Bitcoin Price Prediction Today (12th Dec 2024)!

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With the U.S. CPI data meeting expectations, the crypto market has experienced a strong bullish recovery. This further led to the BTC price bouncing back above the $100,000 level.

Considering the present market sentiments, will BTC price stay above the $100k mark? Or will the price witness a pullback toward its important support level of $98,000?

BTC Price Stays Above the $100k Mark!

The Bitcoin price has added over 3% to its valuation in 24 hours with a trading volume of $81.601 billion, a change of -17.32%. This has resulted in it reclaiming the $100,000 mark during the early Asian trading hours.

The Relative Strength Index (RSI) displays a sharp rise toward the overbought range in the daily time frame. However, the average trendline acts as a resistance, highlighting mixed price action.

Further, the Moving Average Convergence Divergence (MACD) shows a constant red histogram in the Bitcoin price chart. Moreover, the averages record a downward trend, suggesting a negative outlook.

Will BTC Price Hit A New High Today?

If the bullish price action sustains, the Bitcoin price will retest its ATH of $103,900.47. Maintaining the price above that level could set the stage for this cryptocurrency to achieve a new high.

Contrarily, a bearish sentiment could pull the BTC price below the $100k mark. Further, if the bears gain power, it could test its low of $98,000 during the upcoming hours.

Will BTC Price hit the $200,000 mark this crypto bull run? Read our Bitcoin Price Prediction. Also, subscribe to CoinPedia to stay updated about the latest happenings in the crypto-verse!

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