{"id":665727,"date":"2024-12-20T15:30:40","date_gmt":"2024-12-20T15:30:40","guid":{"rendered":"https:\/\/uniquehot.com\/?p=665727"},"modified":"2024-12-20T11:44:18","modified_gmt":"2024-12-20T11:44:18","slug":"bitcoin-price-96000-98000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-price-96000-98000\/","title":{"rendered":"Here’s Why The Bitcoin Price Continues To Hold Steady Between $96,000 And $98,000"},"content":{"rendered":"

The Bitcoin price has dropped below the $100,000 psychological level and is now holding between the $96,000 and $98,000 range. Crypto analyst <\/span>Ali Martinez<\/span><\/a> provided insights into why Bitcoin could be holding well within this range.\u00a0<\/span><\/p>\n

Why The Bitcoin Price Is Holding Steady Between $96,000 And $98,000<\/h2>\n

In an <\/span>X post<\/span><\/a>, Ali Martinez noted that one of the most important support levels for the Bitcoin price is between $98,830 and $95,830, where 1.09 wallets bought over 1.16 million BTC. This explains why Bitcoin is holding steady between $96,000 and $98,000 as <\/span>investors<\/span><\/a> who bought between this level continue to provide huge support for the flagship crypto.\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Trading Volume Rises Over $6.5 Billion As Liquidations Cross $31 Million, What\u2019s Going On?<\/a><\/div>\n

As Martinez suggested, it is important for these holders to continue to hold steady as a wave of sell-offs could send the Bitcoin price tumbling even below $90,000. The flagship crypto <\/span>dropped below $100,000<\/span><\/a> following the Federal Reserve Jerome Powell\u2019s recent speech, in which he hinted at a hawkish stance from the US Central Bank.\u00a0<\/span><\/p>\n

This sparked a massive wave of sell-offs, as a Hawkish Fed paints a bearish picture for risk assets like Bitcoin. However, despite the Bitcoin price drop below, most Bitcoin holders remain in profit, which is a positive for the flagship crypto. IntoTheBlock data shows that 86% of <\/span>Bitcoin holders<\/span><\/a> are in the money, 4% are out of the money, and 9% are at the money.<\/span><\/p>\n

These Bitcoin holders still seem bullish on the leading crypto as they continue to accumulate more BTC. In an X post, Ali Martinez stated that so far in December, 74,052 BTC have been withdrawn from exchanges, and this trend doesn\u2019t seem to be slowing down.\u00a0<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Traders Anticipate A Bullish Reversal\u00a0<\/span><\/h2>\n

Ali Martinez<\/span><\/a> suggested that crypto traders anticipate a bullish reversal for the Bitcoin price from its current level. This came as he revealed that traders on Binance nailed the top, with 62.17% shorting Bitcoin while it was trading at $108,000. Now, Martinez stated that sentiment has flipped, with 55.44% of these trading now longing dips below $96,000.\u00a0<\/span><\/p>\n

Related Reading: This Analyst Predicted The Dogecoin Price Crash 2 Days Ago, Full Prediction Shows A Further 30% Decline<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Meanwhile, it is crucial for the Bitcoin price to hold this $96,000, as Martinez warned that if BTC loses this support, it could drop below $90,000. The analyst stated that based on the Fibonacci level, if Bitcoin loses $96,000, the next point of focus becomes <\/span>$90,000 and $85,000<\/span><\/a>. Meanwhile, from a bullish perspective, crypto analyst Justin Bennett suggested that the $110,000 target is still in focus for the Bitcoin price.\u00a0\u00a0<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

At the time of writing, the Bitcoin price is trading at around $97,000, down over 3% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price drops to $93,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price has dropped below the $100,000 psychological level and is now holding between the $96,000 and $98,000 range. Crypto analyst Ali Martinez provided insights into why Bitcoin could be holding well within this range.\u00a0 Why The Bitcoin Price Is Holding Steady Between $96,000 And $98,000 In an X post, Ali Martinez noted that one of the most important support levels for the Bitcoin price is between $98,830 and $95,830, where 1.09 wallets bought over 1.16 million BTC. This explains why Bitcoin is holding steady between $96,000 and $98,000 as investors who bought between this level continue to provide huge support for the flagship crypto.\u00a0 Related Reading: Dogecoin Trading Volume Rises Over $6.5 Billion As Liquidations Cross $31 Million, What\u2019s Going On? As Martinez suggested, it is important for these holders to continue to hold steady as a wave of sell-offs could send the Bitcoin price tumbling even below $90,000. The flagship crypto dropped below $100,000 following the Federal Reserve Jerome Powell\u2019s recent speech, in which he hinted at a hawkish stance from the US Central Bank.\u00a0 This sparked a massive wave of sell-offs, as a Hawkish Fed paints a bearish picture for risk assets like Bitcoin. However, despite the Bitcoin price drop below, most Bitcoin holders remain in profit, which is a positive for the flagship crypto. IntoTheBlock data shows that 86% of Bitcoin holders are in the money, 4% are out of the money, and 9% are at the money. These Bitcoin holders still seem bullish on the leading crypto as they continue to accumulate more BTC. In an X post, Ali Martinez stated that so far in December, 74,052 BTC have been withdrawn from exchanges, and this trend doesn\u2019t seem to be slowing down.\u00a0 Traders Anticipate A Bullish Reversal\u00a0 Ali Martinez suggested that crypto traders anticipate a bullish reversal for the Bitcoin price from its current level. This came as he revealed that traders on Binance nailed the top, with 62.17% shorting Bitcoin while it was trading at $108,000. Now, Martinez stated that sentiment has flipped, with 55.44% of these trading now longing dips below $96,000.\u00a0 Related Reading: This Analyst Predicted The Dogecoin Price Crash 2 Days Ago, Full Prediction Shows A Further 30% Decline Meanwhile, it is crucial for the Bitcoin price to hold this $96,000, as Martinez warned that if BTC loses this support, it could drop below $90,000. The analyst stated that based on the Fibonacci level, if Bitcoin loses $96,000, the next point of focus becomes $90,000 and $85,000. Meanwhile, from a bullish perspective, crypto analyst Justin Bennett suggested that the $110,000 target is still in focus for the Bitcoin price.\u00a0\u00a0 At the time of writing, the Bitcoin price is trading at around $97,000, down over 3% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":656443,"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":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-665727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nHere's Why The Bitcoin Price Continues To Hold Steady Between $96,000 And $98,000<\/title>\n<meta name=\"description\" content=\"The Bitcoin price has dropped below the $100,000 psychological level and is now holding between the $96,000 and $98,000 range.\" \/>\n<meta name=\"robots\" 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Here’s Why The Bitcoin Price Continues To Hold Steady Between $96,000 And $98,000","url":"http:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-price-96000-98000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-price-96000-98000\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin-from-Unsplash-4.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin-from-Unsplash-4.jpg?fit=3000%2C1894"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-12-20T15:30:40Z","datePublished":"2024-12-20T15:30:40Z","dateModified":"2024-12-20T15:30:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Here’s Why The Bitcoin Price Continues To Hold Steady Between $96,000 And $98,000\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin\\\/bitcoin-price-96000-98000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin\\\/bitcoin-price-96000-98000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/Bitcoin-from-Unsplash-4.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/Bitcoin-from-Unsplash-4.jpg?fit=3000%2C1894\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-12-20T15:30:40Z\",\"datePublished\":\"2024-12-20T15:30:40Z\",\"dateModified\":\"2024-12-20T15:30:40Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin-from-Unsplash-4.jpg?fit=3000%2C1894","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/665727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=665727"}],"version-history":[{"count":1,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/665727\/revisions"}],"predecessor-version":[{"id":665842,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/665727\/revisions\/665842"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/656443"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=665727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=665727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=665727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}