In 2024, Bitcoin struggled to break out until the US presidential election, after which the wider cryptocurrency market entered a bull run. Bitcoin reached a new all-time high of over $106,000 on December 16, but has since declined below $100,000. Overall, Bitcoin prices increased by 119.03% in 2024. Currently, Bitcoin is finding support at $92,600 but is struggling to stay above $95,000. Investors are starting to lock in their gains, leading to a surge in short positions. However, Bitcoin's Relative Strength Index (RSI) has not yet peaked, indicating potential further short-term moves. Institutional investors like BlackRock and popular investors like Robert Kiyosaki remain bullish on Bitcoin, but the market may be shifting towards altcoins in the short term.



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