Originally published on: December 10, 2024
Following a shaky rebound, Bitcoin faced the threat of a breakdown as its price dipped below $96,000 after hitting $98,000. Despite this short-term weakness, the crypto market saw interest from small-volume buyers and institutional investors.
Technical analysis suggested the possibility of another local low near $94,000 before a potential test of $100,000. Despite recent liquidation events, institutional interest remained strong, with multimillion-dollar daily net inflows into US spot Bitcoin ETFs.
Amidst this volatility, tech giant Microsoft was set to vote on a corporate Bitcoin strategy, following MicroStrategy chairman Michael Saylor’s earlier pitch. The market outlook remains uncertain, emphasizing the importance of conducting thorough research before making investment decisions. Stay informed with critical insights and subscribe to the Markets Outlook newsletter today for weekly updates on investment opportunities and trading strategies.
