Bitcoin (BTC) is currently in a bullish phase, trading around $97,375 with strong upward momentum after reaching a new all-time high of $103,804 earlier this month. Market conditions suggest continued bullishness, driven by institutional demand, ETF inflows, and reduced exchange reserves, which point to a potential supply shortage. Analysts predict price targets of $115,000 to $141,000 by the end of December if this trend continues.
However, short-term corrections are possible. If Bitcoin fails to maintain its upward momentum, support levels could come into play around $97,000 or lower, potentially dipping to $88,000 in a bearish scenario.
Overall, the mid- to long-term outlook remains optimistic, with analysts favoring a bullish trajectory for Bitcoin into the new year. Keep monitoring market trends and news for potential shifts.
