Cryptocurrency

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-steadily-holds-at-98200/" data-wpel-link="internal">Bitcoin Price Steadily Holds at $98,200</a> 
Bitcoin (BTC) is currently fluctuating around $98,200 as we approach the middle of December. While a six-figure BTC price has long seemed like a distant dream, it has finally materialized this month. However, <a href="https://en.coin-turk.com/crypto-market-slump-bitcoin-leads-the-dip-as-market-value-retreats-to-1-19-trillion/" data-wpel-link="internal">cryptocurrency</a> enthusiasts are aiming for more, as the current BTC price reflects market sentiment. What do cryptocurrency experts project for the market as of December 11? 
<h2 style="text-align: justify" id="december-11-cryptocurrency-markets">December 11 Cryptocurrency Markets</h2> 
Today, a significant U.S. economic indicator is set to be released. Following disappointing October inflation data, concerns have arisen regarding potential interest rate cuts at upcoming Fed meetings. The rising inflation after several months suggests a deviation from the 2% target, indicating that rate cuts could stall. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-413840 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/12/abd-enflasyon-orani.png" alt="" width="1070" height="488"> 
However, it is unlikely that the Fed will alter its position based on a single data point. Consequently, the direction of the upcoming November inflation data is crucial. 
<h2 style="text-align: justify" id="comments-from-cryptocurrency-experts">Comments from Cryptocurrency Experts</h2> 
Analysts focusing on yesterday’s Microsoft decision wrote optimistically for 2025 in their previous comments. This optimism is justified as next year will see Trump fulfilling his promises regarding <a href="https://en.coin-turk.com/crypto-market-sees-positive-trends-as-bitcoin-surpasses-71000/" data-wpel-link="internal">cryptocurrencies</a>. QCP Capital analysts noted in today’s market commentary: 
<blockquote> 
 “After a modest 3% drop to $94,500, Bitcoin rebounded and remained resilient at $97,500. The sales occurred shortly after Microsoft shareholders firmly rejected the proposal to allocate 1% of their total assets to BTC as an inflation hedge. 
 Despite Michael Saylor’s attempts to influence opinions, Microsoft maintained its stance due to concerns over BTC’s volatility. 
 Meanwhile, MicroStrategy doubled its $2.1 billion BTC purchase last week, marking its fifth consecutive week of accumulation. This move signals strong support against downward trends and strengthens their $42 billion strategy, suggesting more purchases on the horizon. 
 The cryptocurrency lobby intensified its efforts against <a href="https://en.coin-turk.com/elon-musk-criticizes-biden-administrations-immigration-policies/" data-wpel-link="internal">SEC</a> Commissioner Caroline Crenshaw, who is seen as anti-crypto, ahead of a Senate committee vote. The timing of Crenshaw’s vote is viewed as a last-minute effort by Republicans to counter Trump’s agenda of reshaping the SEC into a pro-innovation advocate for digital assets. 
 As a high-risk battle is poised, the future of digital assets hovers at a turning point.” 
</blockquote> 
If Republicans can unite, Trump may fulfill his promises and initiate the real bull market that the markets crave. Insider reports (AXIOS Report) suggest Trump cares about the BTC price and aims to see it reach $150,000. 
The post <a href="https://en.coin-turk.com/bitcoin-price-steadily-holds-at-98200/" data-wpel-link="internal">Bitcoin Price Steadily Holds at $98,200</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Price Steadily Holds at $98,200

Table of Contents

COINTURK NEWS

Other articles published on Dec 11, 2024

Cardano Faces Critical Test After $1.20 Break: What’s Next for ADA?

Why XRP Price Dropped 10%: Profit-Taking and Korean Influence Explained

Toncoin (TON) Wallet Profitability Dips as Market Volatility Increases

Ex-Celsius CEO Alex Mashinsky Pleads Guilty in Major Crypto Fraud Case

Optimism Boosts Ethereum with Innovative Solutions

Grayscale Joins Race for Spot Solana ETF

Join our free newsletter for daily crypto updates!