Does it close the annuity trade above the range?
Has Bitcoin's Bull Run Rekindled? Will BTC price rise and form a new ATH before the end of 2024?
Because market participants want to find these answers, they have been actively monitoring the price movements of crypto markets, especially Bitcoin. Despite varying market dynamics, Star Token failed to gain the necessary buying pressure. However, the recent rise suggests that the bulls tried hard to reach the $100k level, but the bears that seem to have moved to these levels prevented the token from working. Now that the token has seen a Christmas rally, the year-end rally is expected to show new highs.
While the price of BTC continues to show uncertainty, the spot ETFs have seen a significant sell-off. BlackRock sold more than $188 million worth of BTC, one of their biggest sales since inception. Besdies, the total sale peaked at more than $338 million, but the price bounced back from $94,000 to $99,000. Regardless of this, BlackRock and Fidelity hold more than $50 billion in Bitcoin, which may continue the pessimism of the rally.
BTC price has reached oversold levels as Stochastic RSI has reached oversold levels in the short term, suggesting that the price may pull back a bit. So, the levels are about to fall and after a bullish crossover, the DMI levels are about to move into a bearish crossover. Therefore, Bitcoin price is expected to pull back a bit over the next couple of days and drop below $96,000. However, this reversal could be an opportunity to rally on the lower range.
The crypto markets are heading towards the end of the year, which usually attracts a good amount of buying. However, the volume on the platform is low, indicating that bullying participation is currently limited. Therefore, the increase in volume is expected to trigger volatility, which is close to healthy bullish for the year, perhaps above $100k.
