$BTC Bitcoin (BTC) continues its bullish momentum as it reaches new heights in December 2024. Currently trading around $105,000-$106,000, Bitcoin has seen an impressive 77% rally since the bull run began in October. Its price recently hit an all-time high of $106,620, driven by strong institutional adoption, increased whale activity, and favorable macroeconomic factors like anticipated Federal Reserve rate cuts.

Key market observations include:

1. Institutional Interest: Institutional investors are playing a significant role in sustaining Bitcoin's rally. The approval of Bitcoin ETFs earlier in 2024 has brought increased liquidity and confidence to the market.

2. Retail Investor Activity: Retail investors have also shown robust interest, with a surge in small-scale Bitcoin wallets holding less than 1 BTC, reflecting continued accumulation.

3. Market Sentiment: Despite the record highs, analysts remain cautious about potential corrections. If Bitcoin breaks above its resistance level of $107,000, it could aim for $110,000 by year-end. However, support levels around $100,000 and $97,000 provide stability in case of short-term dips.

This bullish trend highlights Bitcoin's resilience and growing adoption, with many experts predicting further growth into 2025. However, investors should remain aware of market volatility and external influences such as macroeconomic policies.