Bitcoin (BTC) Fall Below $97,000 Could Open Doors for New Buyers, Data Suggests

BE[IN]CRYPTO12-25 08:00

Bitcoin (BTC) price has fallen by 12% in seven days, trading below $95,000 due to rising selling pressure. Drops like this have previously attracted new buyers, as reflected in declining profit-taking...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin (BTC) Fall Below $97,000 Could Open Doors for New Buyers, Data Suggests\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-25 08:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beincrypto.com/new-bitcoin-buyers-to-come/><strong>BE[IN]CRYPTO</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin (BTC) price has fallen by 12% in seven days, trading below $95,000 due to rising selling pressure.\nDrops like this have previously attracted new buyers, as reflected in declining profit-taking...</p>\n\n<a href=\"https://beincrypto.com/new-bitcoin-buyers-to-come/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4594","symbol_name":"比特币ETF概念","start_time":0,"source_url":"https://beincrypto.com/new-bitcoin-buyers-to-come/","article_id":"2494615300","we_media_id":null,"thumbnails":["https://beincrypto.com/wp-content/uploads/2024/04/BIC_bitcoin_highs_alltimehigh-covers-850x478.png"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2494615300","pubTimestamp":1735084800,"columns":[],"sourceInfo":{"source_id":"beincrypto_highlight","name":"BE[IN]CRYPTO"},"weMediaInfo":null,"summary":"Bitcoin  price has fallen by 12% in seven days, trading below $95,000 due to rising selling pressure.Drops like this have previously attracted new buyers, as reflected in declining profit-taking and volume.BTC support sits at $92,888 and $95,871, with potential upward targets at $104,299 within a short period.Despite numerous forecasts that Bitcoin’s  price could surge to $120,000 before year-end, the coin has encountered a setback, now trading below $97,000. However, historical data indicates that such pullbacks often present an opportunity for new Bitcoin buyers to accumulate.If this pattern holds true, Bitcoin’s price could close the year on a higher note. This on-chain analysis reveals how this scenario might play out.Furthermore, the rate of profit-taking among Bitcoin holders also supports this outlook. On December 16, the on-chain transaction volume in profit was over 250,000 BTC.However, with green histogram bars appearing, BTC could evade another notable decline and trade high","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4594":"比特币ETF概念","BK4601":"加密货币现货ETF","BTC":"Grayscale Bitcoin Mini Trust","BK4585":"ETF&股票定投概念","IBIT":"iShares Bitcoin Trust","BK4588":"碎股"},"translate_title":"数据显示，比特币(BTC)跌破97,000美元可能为新买家打开大门","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTC":1,"IBIT":1},"content_text":"Bitcoin (BTC) price has fallen by 12% in seven days, trading below $95,000 due to rising selling pressure.\nDrops like this have previously attracted new buyers, as reflected in declining profit-taking and volume.\nBTC support sits at $92,888 and $95,871, with potential upward targets at $104,299 within a short period.\n\nDespite numerous forecasts that Bitcoin’s (BTC) price could surge to $120,000 before year-end, the coin has encountered a setback, now trading below $97,000. However, historical data indicates that such pullbacks often present an opportunity for new Bitcoin buyers to accumulate.\nIf this pattern holds true, Bitcoin’s price could close the year on a higher note. This on-chain analysis reveals how this scenario might play out.\nBitcoin Presents a Rare Chance Again\nBitcoin’s price has dropped by 12% over the past seven days, likely due to increased selling pressure as the holiday season ramps up.\nThis pressure is reflected in the sharp decline of the Coinbase Premium Index, which gauges buying and selling activity in the US. A rising index signals strong buying pressure, while a decline indicates heightened selling.\nCurrently, the index points to significant selling pressure. However, in previous cycles, intensified selling often attracted new buyers eager to purchase Bitcoin at a discount. If this pattern repeats, BTC could experience renewed accumulation and potentially climb higher.\nBitcoin Coinbase Premium Index. Source: CryptoQuant \nInterestingly, crypto analyst MAC_D also agrees with the sentiment, noting that the cryptocurrency might soon experience a bounce.\n\n“Historically, this phenomenon has been temporary during bull markets, often attracting new buyers who saw it as an opportunity. While it’s uncertain whether the price following this sharp decline represents the bottom, if the bull market continues, a bottom may form soon, potentially leading to a rebound.” MAC_D pointed out on CryptoQuant.\n\nFurthermore, the rate of profit-taking among Bitcoin holders also supports this outlook. On December 16, the on-chain transaction volume in profit was over 250,000 BTC. \nAs of this writing, the value has decreased to 58,1000, indicating that the decline in Bitcoin’s price has forced investors to keep HODLing instead of liquidating their assets. Should this value continue to decrease, then a BTC rebound could likely occur.\nBitcoin Daily On-Chain Transaction Volume in Profit. Source: Santiment \nBTC Price Prediction: Back Above $100,000 Soon\nBased on the 4-hour chart, Bitcoin has found support at $92,888. As a result, the price has found another stronger support at $95,871. However, the Awesome Oscillator (AO) has remained negative, which suggests bearish momentum.\nHowever, with green histogram bars appearing, BTC could evade another notable decline and trade higher. If that is the case, Bitcoin’s price could reach $104,299 in the short term. In a highly bullish market condition, the value could rise to $108,386.\nBitcoin 4-Hour Analysis. Source: TradingView \nOn the other hand, a decline below the support level mentioned above could invalidate this prediction. If that were to happen, Bitcoin’s price might decline to $92,144.\n\n\n\n\n🎄Best crypto platforms in Europe | December 2024\n\n\n\neToro\nExplore\n                      \n\n\n\n\n\nCoinrule\nExplore\n                      \n\n\n\n\n\nUphold\nExplore\n                      \n\n\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\n3Commas\nExplore\n                      \n\n\n\n\n\n\n\n\n🎄Best crypto platforms in Europe | December 2024\n\n\neToro\n\n\n\n\n\n\n\n\nCoinrule\n\n\n\n\n\n\n\n\nUphold\n\n\n\n\n\n\n\n\nCoinbase\n\n\n\n\n\n\n\n\n3Commas","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2494615300"}