Originally published on: December 16, 2024
Bitcoin surged to fresh all-time highs as the trading week kicked off on Wall Street with a bang. The price of BTC jumped by nearly $2,000 in just one hour, catching the attention of traders and investors alike.
One of the driving factors behind this price spike was the news that MicroStrategy, a business intelligence firm, had added an additional $1.5 billion worth of Bitcoin to its corporate treasury. This move increased the firm’s total BTC holdings to 439,000, equivalent to $46.38 billion.
Experts believe that MicroStrategy’s recent inclusion in the Nasdaq 100 index could pave the way for future capital raises involving Bitcoin. This development has excited the market, with traders closely monitoring the order book behavior for potential price movements.
The short-timeframe volatility of Bitcoin’s price has been on the rise, with spot buyers showing interest at current levels. Analysts predict that the price could hit $108,000 to $111,000 in the short term, attracting further attention from investors.
Looking ahead, there are indications that a longer-term consolidation range might form around $150,000, based on signals from whales on the Kraken exchange. As Bitcoin continues to surge, altcoins could potentially steal the spotlight, offering new investment opportunities for traders.
Despite Bitcoin leading the pack in terms of daily gains among the top 10 cryptocurrencies, other altcoins are also showing promising signs. Ether, for instance, has seen a 1.2% increase, reaching around $3,950.
It’s important to note that this article does not offer investment advice. Readers are advised to conduct their own research before making any financial decisions. Stay informed and subscribe to our newsletter for more insights on market trends and investment opportunities.
