Bitcoin has seen a minor decrease of less than 2.5% in December, as traders anticipate the closing of both monthly and yearly candles. Even with significant selling in recent days, BTC/USD is still up nearly 50% for Q4 and is currently only 2.4% below its December opening level. December is known for its volatility, offering both substantial gains and losses. Analyst Titan of Crypto highlighted a crucial rising trend line that could support Bitcoin's price, suggesting there’s no cause for concern as long as BTC stays above this line. Some market participants are witnessing similarities between the current market behavior and last year, indicating a fractal pattern. Additionally, there's speculation that Bitcoin may recover after hitting the realized price of short-term holders, currently around $86,000. Analysts note that any price droppings above this point might not be significant, but losing this support could prompt a reevaluation of the market's trajectory. Nevertheless, this discussion underscores the overall bullish sentiment towards Bitcoin in 2024.

Source 🔗