Story Highlights
As of today, Bitcoin price stands at an impressive $101,000*, reflecting an intraday surge of approximately *2%*. Yet, technical indicators offer a *mixed price sentiment on the daily chart. Key resistance and support levels to watch for BTC are $105,000* and *$98,000**, respectively.
In the broader cryptocurrency arena, the market has witnessed a *1.49%* increase over the last 24 hours, boasting a trading volume of $168.88* billion—a shift of *-15.21%*. Currently, the total crypto market capitalization is valued at *$3.65* trillion, with Bitcoin having successfully reclaimed the *$101,000** threshold.
Let’s analyze today’s Bitcoin price movements and explore potential price targets for the weekend.
BTC Price Records Increased Bullish Action!
The price of Bitcoin has gained *1.78%* within the last 24 hours, with a trading volume of $57.854* billion. In addition, BTC has risen *2.53%* over the past week and *13.18%* in the last *30 days.
The Simple Moving Average (SMA) indicator has provided consistent support in the 1D time frame since mid-October, signaling greater buying pressure compared to selling in the crypto market. Conversely, the Moving Average Convergence Divergence (MACD) shows a downward trend in the daily timeframe, suggesting a mixed price action ahead.
Bitcoin ETF Weekly Update
On December *13, there was significant activity in the ETF space. BlackRock’s “IBIT” saw inflows of $393* million, followed closely by *Fidelity’s “FBTC” with $60* million. Other notable gainers included *Bitwise, VanEck, and ARK Invest. In contrast, funds from Invesco, Franklin, and Valkyrie remained neutral, while Grayscale’s “GBTC” faced outflows of $105.8* million. Overall, the net inflow for this day was *+$428.9* million, marking the 12th consecutive day of positive ETF flows—a trend not seen for months.
Will BTC Reach $105,000* This Weekend?*
Should the bullish momentum continue, Bitcoin’s price might retest its all-time high of $103,900.47*. Sustaining above this level could lead the price toward the upper hurdle of *$105,000*. However, if profit-taking increases, we could see BTC slide back toward its support level of *$100,000*. Should bearish sentiments dominate, a drop to *$98,000** becomes a possibility.
Read CoinPedia’s Bitcoin Price Prediction for insights into the long-term outlook of the largest cryptocurrency by market cap. Subscribe to stay informed on the latest happenings!
FAQs
Is Bitcoin still a good investment?
The consensus is that Bitcoin could potentially cross the $1* million* mark by *2040*, indicating it remains a promising long-term investment.
What is 1 BTC currently valued at?
With an intraday increase of *1.78%, the current value of Bitcoin is approximately $101,795.78*.
Will Bitcoin hold value in 2030?
If bullish trends continue and adoption accelerates, it is feasible for BTC to exceed the $600,000* mark by *2030**.
Tags
Bitcoin
Price Analysis
Website: Zcrypto
Read more similar articles at News.
