Rally

Solana

Bitcoin

The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-maintains-consolidation-will-it-miss-the-santa-rally-or-prepare-for-the-2024-bull-run/" rel="noopener noreferrer nofollow">Bitcoin Price Maintains Consolidation: Will It Miss the Santa Rally or Prepare for the 2024 Bull Run?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The market participants have intensified their action as the trading volume soars reasonably. Regardless, the top cryptos hover within a narrow region, uncertain about the impending trend. The bitcoin price remains stuck around $43,000, displaying fewer chances of a bullish breakout when the yearly close is on the horizon.
A few weeks before, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> soared beyond the pivotal resistance, displaying the possibility of a bullish breakout. However, a significant shift in momentum caused the bulls to focus on other tokens, which had already triggered a massive bull run. Hence, it appears that the Bitcoin price may miss the ‘Santa Rally’ that has elevated the Solana price beyond a three-digit figure.
Regardless of the bearish narrative, renowned analysts, bulls, and whales appear to be bullish on Bitcoin. As mentioned above, the Bitcoin price surged high and transformed the multi-year support levels back into resistance. A similar pattern was witnessed back in December 2020, when the markets were at the foothills of the 2021 bull run. However, the BTC price has already surged close to 200%, marking a new ATH close to $69,000.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/OisvXrHUNkVyx3D2mHWsCqVmwHfPpd6yiyO_VKBStt-LVT9GYw9YKOhZxKQiwoZl-Bpif-ddKeEu-rrAuTKYXHwFy9bxuiEsdIRE3l7QiXJLVDRGG2aAiufPygWb3YxbvSb1vDgfpCSyKZKx5Q9FPek" alt="">
</figure>
The BTC price appears to be ready for the next price action, and if it surges with similar intensity and strength, then the rally may find its next ATH somewhere around $95,000 by the end of 2024 or early 2025. However, the milestone at $100K continues to remain distinct, as the road towards $90,000 may also not be smooth enough to sail.
Therefore, now that the BTC dominance is plunging every day, the altcoins are expected to enjoy maximum attention for a while. On the other hand, the Bitcoin mining difficulty skyrockets to an ATH of 72 trillion, a nearly 7% jump. This surge displays the incredible resilience and growth of the Bitcoin network amid a massive $600 million investment in ASIC this month. With this optimism, the BTC price is expected to rise, positively impacting its value in the coming days.

Bitcoin Price Maintains Consolidation: Will It Miss the Santa Rally or Prepare for the 2024 Bull Run?

CoinPedia News

Other articles published on Dec 25, 2023

Dogecoin, Cardano, And Chainlink Get Special Listing From Binance

Tether treasury boosts crypto market with 1 billion USDT mint

ADA Price Set To Explode: Analyst Identifies Indicators That Predict A Massive Rally

Ekosistem Kian Ramai, Harga SHIB Berpeluang Sentuh US$$0,00002

Epic Games Reopends to Blockchain Games with Change in Policy

China’s Strategic Pursuit of AI Secrets Unveiled Amidst Heightened U.S. Allegations

Join our free newsletter for daily crypto updates!