Bitcoin ETF

Bitcoin

Story

<div id="story-highlight-pattern-block" class="wp-block-group">
 <div id="story-highlights" class="wp-block-group">
  <h3 class="wp-block-heading the-subtitle" id="story-highlights">Story Highlights</h3>  
  <ul class="wp-block-list story-highlights-list">
   <li>The Bitcoin price records a new ATH of $103,900.47 on 05th December 2024.</li>  
   <li>Increased liquidation resulted in the BTC price losing over $12,000 within hours.</li>  
   <li>The technical indicators record mixed price sentiment, indicating uncertain price action.</li> 
  </ul>  
  <p>The Bitcoin price has experienced a strong bearish reversal in its price by recording a correction of ~6%. Notably, the BTC price lost over $12,000 within hours before stabilizing around the $92k mark. However, the crypto token is currently hovering around the $97k mark.</p>  
  <p>With the Bitcoin price reclaiming the $97k during the early Asian trading hours, will the star crypto surpass the $100,000 mark and head toward a new ATH?</p>  
  <h2 class="wp-block-heading" id="h-btc-price-retests-its-lower-support-levels">BTC Price Retests Its Lower Support Levels!</h2>  
  <p>After stabilizing above the $103,000 level, the Bitcoin token experienced a significant pullback by recording a 24-hour low of $91,998.78 with a trading volume of $128.54 billion.</p>  
  <figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/06113255/Bitcoin-Price-Analysis-06th-December-2024-1024x539.webp" alt="BTC Price Retests Its Lower Support Levels!" class="wp-image-389877">
   <figcaption class="wp-element-caption">
    TradingView: BTC/USDT
   </figcaption>
  </figure>  
  <p>The Moving Average Convergence Divergence (MACD) displays a constant red histogram in the daily time frame. Moreover, its averages record a steady decline, suggesting an increase in the bearish sentiment for the BTC token in the market.</p>  
  <p>On the other hand, the SMA indicator constantly supports the Bitcoin price chart in the daily time frame. This suggests a mixed price sentiment for it this week.</p>  
  <h2 class="wp-block-heading" id="h-bitcoin-etf-update">Bitcoin ETF Update</h2>  
  <p>Over the past 24 hours, 9 out of 11 BTC ETFs recorded a positive inflow. With this, the Bitcoin ETF has experienced 6 consecutive days of inflow. Notably, BlackRock’s “IBIT” recorded the highest gains of $770.5 million, followed by Grayscale’s “BTC” of $95.4 million.</p>  
  <figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/06113308/Bitcoin-ETF-Flow-Chart-06th-December-2024-1024x245.webp" alt="Bitcoin ETF Update 06th December 2024" class="wp-image-389878">
   <figcaption class="wp-element-caption">
    Source: SoSoValue
   </figcaption>
  </figure>  
  <p>Moreover, 5 BTC ETFs have displayed a neutral price flow during this period. On the other hand, Grayscale’s “GBTC” recorded the highest outflow of $148.8 million, followed by Bitwise’s “BITB” with $10.2 million. With this, the total flow for the day concluded at +$766.7 million.</p>  
  <h2 class="wp-block-heading" id="h-how-high-can-btc-price-go">How High Can BTC Price Go?</h2>  
  <p>If the bulls reclaim the $100k mark, the Bitcoin price may prepare to retest its ATH during the upcoming hours.</p>  
  <p>On the contrary, if the bears outrun the bulls, the largest cryptocurrency by market cap may retest its low of $90,000.</p>  
  <p>Are you wondering if the BTC price will hit a new ATH? Read CoinPedia’s <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Price Prediction</a> to uncover the potential price targets until 2030!</p>  
  <h2 class="wp-block-heading" id="h-faqs">FAQs</h2>  
  <div class="schema-faq wp-block-yoast-faq-block">
   <div class="schema-faq-section" id="faq-question-1733464813007"><strong class="schema-faq-question"><strong>Will Bitcoin stay at 100k?</strong></strong>
    <p class="schema-faq-answer">If the bullish sentiment sustains, the BTC price may reclaim the $100k mark today.</p>
   </div>
   <div class="schema-faq-section" id="faq-question-1733464814461"><strong class="schema-faq-question"><strong>What will BTC be worth in 2025?</strong></strong>
    <p class="schema-faq-answer">With increased adoption, the Bitcoin token may reach a maximum price of ~$170,000 in 2025.</p>
   </div>
   <div class="schema-faq-section" id="faq-question-1733464815053"><strong class="schema-faq-question"><strong>What is the highest price of Bitcoin in history?</strong></strong>
    <p class="schema-faq-answer">The all-time high of the Bitcoin (BTC) crypto token is $103,900.47.</p>
   </div>
  </div> 
 </div> 
</div>

Bitcoin (BTC) Price Prediction (Dec 06th 2024)

Table of Contents

CoinPedia News

Other articles published on Dec 6, 2024

Bitcoin Breaks 100K Milestone as Trump Names Pro-Crypto SEC Chief

A Comprehensive Overview of Mint Forest’s Current ME Growth Mechanism and Optimization Paths

US Spot Bitcoin ETFs Now Hold More BTC Than Satoshi

Qubetics Presale Surges: Why Analysts Say $TICS is Among the Best Cryptos to Invest in Right Now ...

Understanding Today’s Bitcoin Dip: Critical Levels to Guide Your Next Action

Bitcoin Price Rebounds to $97K: CIFDAQ Founder Predicts Continued Volatility in the Crypto Market

Join our free newsletter for daily crypto updates!