Can Bitcoin Price Hit $110K in December? Know All Here

Key Insights:

• Bitcoin USD price stayed near the flatline at $91,500 after a robust rally on Thanksgiving Day.
• A top expert expects BTC price to hit a new high, citing hidden bullish divergence trends.
• Another expert hinted towards a potential BTC rally to $112k.

The investors are keeping close track of the Bitcoin USD movements, as the crypto consolidates near the $91,500 mark. This marks a strong recovery of the asset from last week’s massive dump to $80,000, which has triggered a bearish Bitcoin price prediction.

The experts have recently warned of a continuing dip in the asset’s price, potentially to $50,000 or even lower. However, the recent recovery and the current market trends suggest that the crypto might be gearing up to continue its run towards the north.

Notably, the Fed rate cut hopes and the reversal trend noted in the institutional interest have further bolstered market confidence. Besides, the lower price might also continue to attract more traders, buoyed by the recent crash of Bitcoin USD from $126k to $80k.

Amid this, market pundits have shared key insights on the key BTC price levels to watch ahead. Simultaneously, the historical performance in December also suggests that the crypto might witness an upward momentum in the coming days, potentially to $110k or beyond.

Bitcoin Price in Focus Amid Fed Rate Cut Bets

BTC price today stayed near the flatline and traded at $91,639 at the time of writing. It seems that the traders have regained confidence in the asset, as evidenced by the recent Thanksgiving rally in Bitcoin USD price.

However, the trading volume of the asset fell more than 32% to $49 billion, suggesting that traders might be taking a pause. The experts have deemed this a common behavior of market participants, especially after a major move in any asset.

Bitcoin price has recovered from a low of $80,600 to its 24-hour high of $91,897, which further reflects the soaring confidence of traders. Notably, the surge could be attributed to the renewed bets over a potential Fed rate cut in December.

The lower interest rates usually help drive the risk-bet assets like Bitcoin price higher. Having said that, the current 85% odds of a likely Fed rate cut next month might have fueled the price and may continue to support the bullish run ahead.

Bitcoin Price Prediction in December: Here’s Key Levels to Watch

The soaring odds of a Fed rate cut and renewed institutional bets have triggered a bullish Bitcoin price prediction. For context, the US Spot Bitcoin ETF has recorded inflows for the second straight day through November 26.

Over the past two days, the total fund flows into the investment instrument totaled around $150 million. It’s worth noting that BlackRock’s IBIT provided the biggest boost with over $125 million.

Amid this, analyst Michael van de Poppe has shared a bullish Bitcoin price prediction, citing a hidden bullish divergence in the markets. According to van de Poppe, this indicator suggests the trend continues, and the recent Bitcoin USD crash could be setting the stage for a rebound towards new highs.

Experts attribute the rebound to renewed buying interest and improving sentiment across the market. In addition, analyst Ali Martinez said that $112,340 is the “ceiling to watch” for BTC price, citing the UTXO Realized Price Distribution (URPD) chart.

On the other hand, the expert has cited the $84,570 as a key support for the asset. In other words, Bitcoin USD must hold the support to avoid another correction, while the possibility of a run to $112k remains feasible in December.

Besides, the historical data from CoinGlass also showed that BTC tends to provide positive returns in December.

Although historical performance doesn’t guarantee future returns, this year’s November being the greatest example, experts remain bullish given the positive sentiments hovering in the broader financial markets.