As Bitcoin approaches the end of 2024 trading, it finds itself in a pivotal area impacting its latest bull run. Volatility is anticipated in the short term as monthly support levels come into focus. Key macroeconomic data, particularly jobless claims, will be significant in determining market movements, with many traders concerned about potential stagflation in 2025. Current trading patterns show Bitcoin hovering near December lows with expectations of a possible dip to around $90,000. Analysts highlight a lack of momentum during the holiday period, but whale activity suggests potential bullish movement if retail traders remain apathetic. Additionally, Binance's stablecoin reserves have reached near-historic highs, indicating investor confidence despite recent market downturns. The dynamics between short-term holders and market metrics also suggest a nearing point of seller exhaustion. Overall, the market's behavior signals caution as analysts continue to monitor economic indicators that could impact Bitcoin's trajectory going into 2025.

Source 🔗