Price analysis

Bitcoin’s rally above $100,000 has improved sentiment, triggering a strong recovery in several altcoins.

Bitcoin (BTC) found support near $94,000 on Dec. 10, and the bulls made a solid recovery on Dec. 11. The price soared back above the psychologically crucial level of $100,000 after November’s inflation report met economists’ projections. According to the FedWatch Tool, the probability of a 25-basis point rate cut in the next meeting has risen to more than 96%. That could prove to be bullish for risky assets.

Bitwise investment chief Matt Hougan and research head Ryan Rasmussen said in a report that Bitcoin could cross $200,000 by the end of 2025. Along with Bitcoin, the duo is also bullish on Ether (ETH) and Solana (SOL), expecting them to rise to $7,000 and $750, respectively.

Crypto market data daily view. Source: Coin360

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Bitcoin price trades above $100,000 again, proving that every minor dip is being purchased.

Bitcoin (BTC) created a historic milestone on Dec. 5, as it reached the psychologically critical level of $100,000. The bears pulled the price back toward $90,000, but the bulls purchased the dip and have succeeded in driving the price above $100,000 on Dec. 6.

Has Bitcoin topped out in the short term, or is every dip still a buying opportunity? This is one of the burning questions in traders’ minds.

ARK Invest founder and CEO Cathie Wood said in a post on X that Bitcoin “is still in early innings” even after breaking out of $100,000. She added that her firm believes “Bitcoin is a much bigger idea than gold.” 

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Bitcoin’s strong recovery shows aggressive buying on every minor dip, but the bulls may struggle to overcome the $100,000 resistance.

Bitcoin’s (BTC) pullback found support at $90,791 on Nov. 26, and the bulls pushed the price back above $96,000 on Nov. 27. BTC Markets head of finance and crypto analyst Charlie Sherry told Cointelegraph that the dip to $92,600 “could be the ‘last flush’ before Bitcoin finally crosses $100K.” 

However, some analysts are not confident that Bitcoin will break above $100,000 in a hurry. Bitget Research chief analyst Ryan Lee told Cointelegraph that Bitcoin could “correct as much as 30% before it reaches its cyclical top.”

Crypto market data daily view. Source: Coin360

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Bitcoin continues its march toward $100,000, and several altcoins could be poised to hit new all-time highs.

Bitcoin (BTC) bulls have kept up the pressure, and the price is trying to climb above $95,000. Options contracts on BlackRock’s spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust ETF (IBIT), launched on Nov. 19, were an instant hit. 

Bloomberg ETF analyst James Seyffart said in a post on X that IBIT options recorded roughly $1.9 billion in notional exposure, and that could be the reason for Bitcoin’s new all-time high on Nov. 19.

Bitcoin’s price is nearing $100,000, but MicroStrategy, the largest corporate holder of Bitcoin, is not showing any signs of slowing down its purchases. The business intelligence firm revealed plans to raise $2.6 billion from senior convertible notes to buy more Bitcoin and for general corporate purposes.

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