{"id":666195,"date":"2024-12-21T22:30:36","date_gmt":"2024-12-21T22:30:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=666195"},"modified":"2024-12-21T14:22:51","modified_gmt":"2024-12-21T14:22:51","slug":"bitcoin-price-above-100000-again-why-99800-is-an-important-resistance-to-break","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-price-above-100000-again-why-99800-is-an-important-resistance-to-break\/","title":{"rendered":"Bitcoin Price Above $100,000 Again? Why $99,800 Is An Important Resistance To Break"},"content":{"rendered":"

The Bitcoin price is approaching the $100,000 level again after <\/span>experiencing significant declines<\/span><\/a> these past weeks. A crypto analyst has pointed out that the critical resistance level at $99,800 is crucial for Bitcoin\u2019s next move. If the pioneer cryptocurrency can break through this level, it could trigger a significant breakout, potentially <\/span>propelling Bitcoin past the $100,000 mark<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Ethereum To Outpace Solana In 2025, Bitwise CIO Asserts<\/a><\/div>\n

Bitcoin Price Faces Resistance At $99,800<\/b><\/h2>\n

Prominent crypto analyst Ali Martinez has<\/span> shared<\/span><\/a> a chart showing an In\/Out of the Money Around Price (IOMAP) analysis of the distribution of Bitcoin wallets based on their purchase price. According to the analyst, the <\/span>Bitcoin price is facing extreme resistance<\/span><\/a> between the $97,500 and $99,800 price levels as it tries to breach $100,000 again.<\/span><\/p>\n

\"\"<\/p>\n

Martinez noted that around this price range, approximately 923,890 wallet addresses had purchased over 1.19 million BTC. This price zone acts as an important resistance level because many Bitcoin holders may look to sell and break even, potentially exerting <\/span>selling pressure<\/span><\/a>.<\/span><\/p>\n

In the IOMAP chart shared by Martinez, the green dots that signal \u2018In the Money\u2019 represent price levels below the current Bitcoin price, where wallet holders are in profit because they bought BTC at a lower value. On the other hand, the red dots that represent \u2018Out of the Money\u2019 show price levels of Bitcoin\u2019s present value, where wallet <\/span>holders are at a loss<\/span><\/a> because they bought BTC at a higher price.\u00a0<\/span><\/p>\n

\"\"
BTCUSD trading at $97,429 on the daily chart: TradingView.com<\/figcaption><\/figure>\n

Lastly, the white dot indicates \u2018At the Money\u2019 and represents the current price of Bitcoin at an average of $98,676, where some crypto wallets see neither profit nor loss.\u00a0<\/span><\/p>\n

Below Bitcoin\u2019s current price, the chart shows strong buying zones, which could provide strong support if the pioneer cryptocurrency experiences a <\/span>potential pullback<\/span><\/a>. Martinez has forecasted that breaking through the critical resistance range between $97,500 and $99,800 would signal the start of a <\/span>bullish rally for Bitcoin<\/span><\/a>, potentially leading it to a new all-time high.\u00a0<\/span><\/p>\n

Currently, the Bitcoin price is trading at $98,652, steadily rising to return to previous highs above $100,000. To a <\/span>new all-time high<\/span><\/a>, Bitcoin will have to surge by over 7%, surpassing its present ATH above $104,000.\u00a0<\/span><\/p>\n

Related Reading: Dormant PEPE Whale Awakens, Moves 2.1 Trillion Tokens Worth $52 Million<\/a><\/div>\n

Bitcoin\u2019s Biggest Gains To Come After Christmas<\/b><\/h2>\n

A popular crypto analyst identified as the \u2018Crypto Rover\u2019 has <\/span>expressed<\/span><\/a> optimism about Bitcoin\u2019s near-term price potential this Q4. According to the analyst, Bitcoin has historically experienced its most <\/span>significant gains right after Christmas<\/span><\/a> during the halving years.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

The analyst shared a price chart showing Bitcoin\u2019s market performance during each <\/span>halving cycle<\/span><\/a>. In the 2012 halving year, Bitcoin started a significant price rally, which extended into the following year. The same bullish trend occurred in the next halving years in 2016 and 2020, with Bitcoin hitting exponential price highs.\u00a0<\/span><\/p>\n

Based on this historical trend, Crypto Rover projects that Bitcoin could witness a similar bullish surge before the end of 2024, with the rally potentially continuing into 2025.\u00a0\u00a0<\/span><\/p>\n

Featured image from Bloomberg Images, chart from TradingView <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price is approaching the $100,000 level again after experiencing significant declines these past weeks. A crypto analyst has pointed out that the critical resistance level at $99,800 is crucial for Bitcoin\u2019s next move. If the pioneer cryptocurrency can break through this level, it could trigger a significant breakout, potentially propelling Bitcoin past the $100,000 mark.\u00a0 Related Reading: Ethereum To Outpace Solana In 2025, Bitwise CIO Asserts Bitcoin Price Faces Resistance At $99,800 Prominent crypto analyst Ali Martinez has shared a chart showing an In\/Out of the Money Around Price (IOMAP) analysis of the distribution of Bitcoin wallets based on their purchase price. According to the analyst, the Bitcoin price is facing extreme resistance between the $97,500 and $99,800 price levels as it tries to breach $100,000 again. Martinez noted that around this price range, approximately 923,890 wallet addresses had purchased over 1.19 million BTC. This price zone acts as an important resistance level because many Bitcoin holders may look to sell and break even, potentially exerting selling pressure. In the IOMAP chart shared by Martinez, the green dots that signal \u2018In the Money\u2019 represent price levels below the current Bitcoin price, where wallet holders are in profit because they bought BTC at a lower value. On the other hand, the red dots that represent \u2018Out of the Money\u2019 show price levels of Bitcoin\u2019s present value, where wallet holders are at a loss because they bought BTC at a higher price.\u00a0 Lastly, the white dot indicates \u2018At the Money\u2019 and represents the current price of Bitcoin at an average of $98,676, where some crypto wallets see neither profit nor loss.\u00a0 Below Bitcoin\u2019s current price, the chart shows strong buying zones, which could provide strong support if the pioneer cryptocurrency experiences a potential pullback. Martinez has forecasted that breaking through the critical resistance range between $97,500 and $99,800 would signal the start of a bullish rally for Bitcoin, potentially leading it to a new all-time high.\u00a0 Currently, the Bitcoin price is trading at $98,652, steadily rising to return to previous highs above $100,000. To a new all-time high, Bitcoin will have to surge by over 7%, surpassing its present ATH above $104,000.\u00a0 Related Reading: Dormant PEPE Whale Awakens, Moves 2.1 Trillion Tokens Worth $52 Million Bitcoin\u2019s Biggest Gains To Come After Christmas A popular crypto analyst identified as the \u2018Crypto Rover\u2019 has expressed optimism about Bitcoin\u2019s near-term price potential this Q4. According to the analyst, Bitcoin has historically experienced its most significant gains right after Christmas during the halving years.\u00a0 The analyst shared a price chart showing Bitcoin\u2019s market performance during each halving cycle. In the 2012 halving year, Bitcoin started a significant price rally, which extended into the following year. The same bullish trend occurred in the next halving years in 2016 and 2020, with Bitcoin hitting exponential price highs.\u00a0 Based on this historical trend, Crypto Rover projects that Bitcoin could witness a similar bullish surge before the end of 2024, with the rally potentially continuing into 2025.\u00a0\u00a0 Featured image from Bloomberg Images, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":666196,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,1119,1144,6664],"class_list":["post-666195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-btc","tag-btcusd","tag-crypto"],"acf":[],"yoast_head":"\n$100k Bitcoin: Why $99,800 Is An Important Resistance To Break<\/title>\n<meta name=\"description\" content=\"The Bitcoin price is approaching the $100,000 level again after experiencing significant declines these past weeks. 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