$BTC recently achieved an all-time high of $108,319.87on December 17, 2024. However, it experienced a sharp dip due to profit taking till around $104,000.

Despite this volatility, institutional demand for Bitcoin remains strong, fueled by developments like BlackRock's Bitcoin spot ETF.

On December 18, 2024, the Federal Reserve reduced its benchmark interest rate by 25 basis points to a target range of 4.25% to 4.5% marking the third rate cut of the year. Currently, $BTC is trading within a bullish trend channel in the short term, signaling the potential for further upward momentum.

Key Takeaways

1. The price of $BTC remains volatile, yet it continues to demonstrate resilience despite ongoing regulatory challenges.

2.Institutionals demand in Bitcoin has significant drive towards Bitcoin's performance.

3.The Federal Reserve's recent rate cut influenced market liquidity and investor sentiment, potentially impacting Bitcoin's price dynamics.

4.Technical indicators and market analyst suggest a bullish trend, but traders should closely monitor key support and resistance levels.

Cryptocurrency prices are highly volatile and can fluctuate significantly over short periods.

Disclaimer:This is a general summary and should not be considered financial