Bitcoin (BTC) is currently trading around $96,000, showing signs of consolidation as it aims for the psychological milestone of $100,000. Analysts remain optimistic about a potential breakout this December, driven by institutional demand, particularly through Bitcoin Exchange-Traded Funds (ETFs).
Key Highlights:
Institutional Influence: A surge in Bitcoin ETF inflows is boosting market confidence. Analysts suggest this could push Bitcoin above $100,000.
Resistance Levels: The key levels to watch are $99,588 (current resistance) and $105,000, which could act as a short-term cap if reached.
Market Sentiment: Despite some recent pullbacks to $92,000, accumulation by major holders continues, signaling bullish sentiment.
Challenges remain in the form of potential selling pressure, which could see prices dip below current levels if key supports fail.