Bitcoin Price Recovers to $98,374 After Weekend Dip Below $96,000, Is $100K Within Reach?

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Bitcoin made a shocking comeback after a sharp fall below $95,900 as investors prepared for Thanksgiving. The massive drop triggered one of the largest crypto liquidation events in the last six months, wiping out over $500 million in just 24 hours! 

But here’s the twist: crypto analysts are now saying that Bitcoin’s long-term holders are showing signs of growing greed, and this could mean a massive price surge is just around the corner

Bitcoin’s Recovers From Weekend Drop

Bitcoin, the world’s largest cryptocurrency, saw a dramatic drop to $96,000 recently after failing to break the crucial $100,000 level. This dip caused liquidations to skyrocket, reaching a massive $360 million in long positions and $129 million in shorts.

However, analysts are confident that the demand for Bitcoin from both retail and institutional investors will stay strong, despite these ups and downs.

QCP Capital believes that as central banks continue easing monetary policies, Bitcoin’s price will likely stay supported through the rest of the year. 

Adding to the excitement, investor sentiment is being boosted by the incoming Donald Trump administration, which has promised to push a strong crypto agenda. This could mean big things ahead for Bitcoin!

Bitcoin Holders Are Getting Greedy

Bitcoin holders are showing signs of growing confidence, and crypto analyst Ali Martinez believes this could signal a massive price surge in the near future! Historically, when holders start to get “greedy,” Bitcoin tends to skyrocket to new all-time highs.

Long-term #Bitcoin holders are showing signs of growing greed! Historically, this behavior suggests it could take 8-11 months for $BTC to hit a market top. If the trend holds, we might see a potential peak between June and September 2025! pic.twitter.com/UacfaQb5VW

— Ali (@ali_charts) November 24, 2024

Martinez suggests that we could see a huge price spike within the next 8 to 11 months, possibly sending Bitcoin to unimaginable heights. Experts predict that this peak could happen between June and September 2025, setting the stage for an explosive rise.

Bitcoin Price Analysis

With Bitcoin’s dominance now at 56.2% of the entire crypto market, valued at a massive $3.46 trillion, this dip might just be a brief pause before an even bigger breakout. 

Despite the recent correction, Bitcoin has surged nearly 44% since early November, showing it is unstoppable. As of now, Bitcoin is currently trading at $98,374, just shy of its all-time high of $99,645.