Why is Bitcoin Stuck in the $96K to $100K Range—Is It the Opening of a Christmas Rally or the Close of a Hidden Year Coming Soon?

Crypto markets have fallen sharply over the past two days, causing panic among market participants who foresee the end of the bull run. The $100K milestone for Bitcoin was a selling point for most traders, which provided strong impetus for other altcoins such as XRP, ADA, TRX, etc., among others. Moreover, long-term owners began to fix some profits in anticipation of witnessing some results.

Thus, this forced the price of BTC to fall sharply and pushed the entire market into a correction mode. Meanwhile, the correction is not long-lasting, so it cannot be judged as the end of the bull run.

As traders are taking profits and new hands are entering the market, the markets are experiencing a sharp decline. So, it looks like the markets need more time to settle, which could last for another couple of weeks. Until then, the price range of BTC is expected to remain stuck between $96,000 and $100,000.

So what's next? When can we expect it to happen?

Bitcoin's weekly chart suggests that the token is in a higher range and following a strong bullish pattern. However, the price seems to have reached its previous run high and a pullback could be imminent as a result. The weekly MACD is showing a decline in buying pressure after being dominant since the second week of October. Additionally, the RSI is about to break out of the overbought range if it experiences a bearish divergence.

These indicators confirm the bullish claim by predicting a bearish close for the year below $95,000, ending the possibility of a ‘Christmas Rally'. Additionally, the recorded inflows are higher than the previous month, so the EFF storm may prevent over-carrying activity. Moreover, with Trump and the Republicans behind, the bull run is expected to intensify once the new president takes office.

Therefore, the market always faces corrections and this is not the first. So, even if the price of Bitcoin (BTC) shows a new low for the month, it could be another opportunity for accumulation as it starts to mark the high mark above 110 thousand dollars somewhere in 2025.