Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
As the year ends, a renowned analyst suggested that Bitcoin (BTC) could have a New Year rebound after the flagship crypto surged by 4.2% to retest a key level. Related Reading: Altcoins To Explode In Early 2025: Analyst Says \u201cGrand Finale\u201d Is Around The Corner Bitcoin Sees End-On-Year Slowdown Bitcoin has struggled to hold the mid-zone of its one-month price range as the crypto market experiences an end-of-year slowdown. In December, BTC surpassed the $100,000 barrier for the first time, reaching a new all-time high of $108,353 mid-month. Over the last 30 days, the flagship crypto has moved between $90,000 and $108,000, hovering between $96,000 and $102,000 for most of the month. Nonetheless, Bitcoin has registered a 10.5% decline since hitting its ATH, failing to hold the $98,000 level over the last two weeks. The largest cryptocurrency by market capitalization saw a brief recovery on December 25 but quickly lost its Christmas rally gains. Since then, BTC\u2019s price recorded its deepest retrace since the start of December. Bitcoin fell below the crucial $92,000 support zone on Monday, dipping to $91,530 before recovering, raising concern about BTC\u2019s monthly close. However, New Year\u2019s Eve started with a 4.2% surge throughout the morning, fueling end-of-year optimism about a price rebound. The cryptocurrency\u2019s price moved from $92,000 to $96,000 before retracing to the $95,000 support zone. As the BTC\u2019s price climbed, crypto analyst Ali Martinez noted that the TD Sequential showed a buy signal on the 12-hour chart, potentially signaling a New Year\u2019s Day price bounce. ‘All Is Well’ For BTC\u2019s Rally Martinez suggested that \u201ca sustained close above $94,700 could lead to a rebound to $97,500.\u201d As the analyst previously pointed out, this level is one of BTC\u2019s most significant support zones, and reclaiming it is key for the cryptocurrency\u2019s short-term rally. On the contrary, \u201closing $92,500 as support will invalidate the bullish signal,\u201d Martinez added. Losing this level could also send BTC to the $70,000 level based on the UTXO Realized Price Distribution (URPD) chart. The analyst has stated that a 25% crash to the $70,000 mark is possible, as the URPD chart shows minimal support below the key support wall. Related Reading: Ethereum\u2019s Large Consolidation Trend Points To Possible Price Explosion To $8,000 Meanwhile, James Van Straten noted that \u201call is well\u201d despite BTC\u2019s current price action. The analyst highlighted that \u201cthis cycle as with the previous three cycles for BTC, all saw corrections at this point after the halving,\u201d adding that the \u201ccorrections are starting later and finishing later. Maybe, to do with elongated cycles.\u201d As of this writing, Bitcoin is trading at $94,949, a 1% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":602298,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,84434,679,6481,1119,78790,26263,25757,10923,93291,89756],"class_list":["post-669043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-correction","tag-bitcoin-price","tag-bitcoin-rally","tag-btc","tag-btcusdt","tag-crypto-analyst","tag-crypto-bull-run","tag-crypto-market","tag-crypto-market-correction","tag-crypto-trader"],"acf":[],"yoast_head":"\n
Bitcoin Retests $95,000, Is A New Year Rebound Coming?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n