Ethereum

bullish

Bitcoin

Daily

<ul class="wp-block-list"><li>Bitcoin has experienced a modest 0.49% price dip in the last 24 hours.&nbsp;</li><li>Investors anticipate whether the cryptocurrency will hit $100K this month.</li></ul>The cryptocurrency market has remained bullish in the last 24 hours, as indicated by the market cap showing a 1.12% increase. However, signs of monthly first-week slumber can be detected, particularly in the leading assets. On the other hand, the market itself has remained quite active, with Michael Saylor’s Bitcoin advocation and altcoins surging.&nbsp;&nbsp;Meanwhile, the largest cryptocurrency, Bitcoin, has incurred a modest price dip of 0.49% in the past day. This downward trend has caused the token to fall back to the $95K level. Bearish candles have pulled Bitcoin’s price down by almost a thousand dollars. At the time of writing, BTC was trading at $96,119, as per CMC <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">data</a>.&nbsp;&nbsp;This price activity reflects a prolonged consolidation in Bitcoin price activity. The digital asset’s weekly chart further highlights the phase while showing a modest price increase of 1.67%.&nbsp;Seven days ago, Bitcoin’s price was just recovering from its $92K slump caused by the liquidations of long-term holders. Looking for reassuring insights from the community, market expert Ali (@ali_charts) states that Bitcoin must hold above $96,175. In such a case, the bulls are in favor.&nbsp;&nbsp;<div><blockquote class="twitter-tweet">As long as <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> holds above $96,175, the odds favor the bulls! <a href="https://t.co/18097DlAPF" rel="noopener noreferrer nofollow">pic.twitter.com/18097DlAPF</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1863297462678532574?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 1, 2024</a></blockquote></div>Although the cryptocurrency seems to have bounced back, it shows strong resistance at $97,000 after this recent dip. Additionally, in the past day, fueled by Michael Saylor’s <a href="https://thenewscrypto.com/michael-saylor-advocates-for-bitcoin-adoption-to-the-microsoft-board/" rel="noopener noreferrer nofollow">proposing</a> Bitcoin to Microsoft the token tested $97K.&nbsp;&nbsp;<h3 class="wp-block-heading" id="h-is-bitcoin-price-waiting-for-bullcember-to-hit-100k-nbsp">Is Bitcoin Price Waiting For Bullcember to Hit $100K?&nbsp;</h3>The cryptocurrency’s technical indicator RSI stands at 63.59 after leaning towards an overbought situation earlier as per TradingView <a href="https://www.tradingview.com/symbols/BTCUSDT/?exchange=BINANCE" rel="noopener noreferrer nofollow">data</a>. This is suggestive of a neutral investors’ sentiment indicating possibilities for incoming bull runs. Additionally, Bitcoin is also trading closer to Ali’s predicted price of $96,175 in the past hour.&nbsp;<div class="wp-block-image"><figure class="aligncenter"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXf0-MR_IFI-dchy39e6dVHZkybcX9HZsbbQvkzFWVdc1iwlRYdhNoPHhjlMnSfrtq7hFH2EYcnA8vKTVmgOBfX8G7Wn_cfC8OvUz8ods1lWk81mLd8VwBgx2Hi7TsmpOerJqpJA8w?key=pCjrbXw8VEnP9SW5VfZ_yZHd" alt=""><figcaption class="wp-element-caption">BTC/USDT Daily Price Chart (Source: <a href="https://www.tradingview.com/symbols/BTCUSDT/?exchange=BINANCE" rel="noopener noreferrer nofollow">TradingView</a>)</figcaption></figure></div>Moreover, the asset’s long-term bull power indicator value is 11.67, while the bear power indicator value is -1.29. This shows that Bitcoin still holds an opportunity to stage its bull run.&nbsp;Additionally, historic data elucidates several consolidation phases between bullish cycles as reflective of current market conditions. Meanwhile, <a href="https://thenewscrypto.com/bernstein-predicts-ethereum-etf-staking-yield-approval-under-trump-administration/" rel="noopener noreferrer nofollow">Ethereum</a> has also shown a modest price dip in the past day.&nbsp;Highlighted Crypto News Today:&nbsp;<a href="https://thenewscrypto.com/xrp-hits-six-year-high-of-2-71-amid-156b-market-cap-surge/" rel="noopener noreferrer nofollow">XRP Hits Six-Year High of $2.71 Amid $156B Market Cap Surge</a>

Will Bitcoin Price Break Out of Its Consolidation Phase at $96K?

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