#2024withBinance
Bitcoin's performance in December 2024 has been marked by notable milestones and volatility. After a strong November with gains of 37-39%, Bitcoin reached and briefly surpassed the $100,000 mark early in December. However, this was followed by a sharp correction, with the price oscillating between $98,000 and $104,000 in the first week of the month.
Key factors driving market trends include:
1. **Institutional Inflows**: Bitcoin ETFs have seen significant investment, with over $31 billion in inflows this year. This has created a supply shortage as long-term holders remain unwilling to sell despite high prices.
2. **Market Dynamics**: Exchange reserves are at historic lows, indicating reduced selling pressure. However, high market volatility, driven partly by leveraged trading, has led to substantial liquidations, including a $1 billion flash crash.
3. **Sentiment and Historical Trends**: December has historically been a strong month for Bitcoin, particularly in election years. Analysts predict that prices could close the year between $115,000 and $141,000, depending on momentum.
Despite the volatility, Bitcoin's market structure remains bullish, supported by steady institutional participation and reduced availability on exchanges. The outlook for the rest of the month hinges on maintaining support above $90,000 while breaking resistance near $100,000.
