Bitcoin: the $100K again in 2025
The Holiday season on the Western markets impact the lower trading volumes and lower volatility on the crypto market. This came as a short rest, after extremely volatile November and December. Regardless of a recent drop in value, still year 2024 was excellent for BTC and the crypto market, as the coin managed to reach additional milestones. The first BTC exchange traded fund was approved by the SEC in 2024, when BTC was further included into the mainstream market. The second milestone was a break of the 100K level, which was the next milestone for the price of BTC. The all time highest level for BTC was achieved in December, at the level of $107.800. The futures market continues to be optimistic when it comes to the price of BTC in the year ahead, implying a possibility that the BTC might reach a new ATH during the next year. Of course, there are always unpredictable moments, so the sensitivity of BTC will continue to hold and in this sense, its higher volatility.
During the previous week BTC was trading in a relatively shorter price range, from $93,7K up to $99,7K. Still, during most of the time, BTC was testing the 95K support level. It could be expected that the BTC will close this year by testing this level. The RSI moved further from the strongly overbought market side, down to the level of 45. This is indication that the market is slowly eyeing the oversold market side, which might occur somewhere at the beginning of 2025. The MA50 continues to strongly diverge from MA200, without any indication of a potential slowdown in the coming period.
For the week ahead, it should not be expected to have any kind of high volatility on financial markets. The New Year short holiday is ahead, in which sense, trading volumes will not be the ones which could move the market to one or another side. Still, two weeks from now a new trading season is starting and a new fight for higher grounds.
During the previous week BTC was trading in a relatively shorter price range, from $93,7K up to $99,7K. Still, during most of the time, BTC was testing the 95K support level. It could be expected that the BTC will close this year by testing this level. The RSI moved further from the strongly overbought market side, down to the level of 45. This is indication that the market is slowly eyeing the oversold market side, which might occur somewhere at the beginning of 2025. The MA50 continues to strongly diverge from MA200, without any indication of a potential slowdown in the coming period.
For the week ahead, it should not be expected to have any kind of high volatility on financial markets. The New Year short holiday is ahead, in which sense, trading volumes will not be the ones which could move the market to one or another side. Still, two weeks from now a new trading season is starting and a new fight for higher grounds.
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