The price of Bitcoin closed Monday with a dragonfly Doji candlestick, signaling a potential bullish sentiment in the coming weeks. After reaching a low of $89,171, the price rallied over 6 percent to trade at $96.5k on Tuesday. Market trader Peter Brandt believes this rebound indicates that Bitcoin is ready for a rally beyond $100k. The upcoming inauguration of US President-elect Donald Trump, who has shown support for cryptocurrencies, is expected to further boost bullish sentiment. Additionally, institutional investors, such as BlackRock and MicroStrategy, continue to accumulate Bitcoin as a hedge against inflation and fiat devaluations. Overall, these factors suggest a Bitcoin price rally in the coming months.



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