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BTC
$95,168
2.04%
ETH
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USDT
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0.04%
BNB
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XRP
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STETH
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1.25%
TRX
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WBTC
$97,798.12
0.93%
AVAX
$36.57
1.92%
TON
$5.39
1.78%
LINK
$22.05
0.19%
SHIB
$0.00002151
0.54%
DOT
$6.83
1.62%
BCH
$445.09
1.91%
LEO
$9.30
0.39%
NEAR
$5.03
0.78%
BTC
$95,168
2.04%
ETH
$3,279.15
1.57%
USDT
$0.999
0.04%
BNB
$649.65
1.94%
XRP
$2.20
1.35%
SOL
$180.43
0.05%
DOGE
$0.3124
2.24%
USDC
$1.00
0.03%
ADA
$0.8836
2.03%
STETH
$3,275.20
1.25%
TRX
$0.2442
0.26%
WBTC
$97,798.12
0.93%
AVAX
$36.57
1.92%
TON
$5.39
1.78%
LINK
$22.05
0.19%
SHIB
$0.00002151
0.54%
DOT
$6.83
1.62%
BCH
$445.09
1.91%
LEO
$9.30
0.39%
NEAR
$5.03
0.78%
BTC
$95,168
2.04%
ETH
$3,279.15
1.57%
USDT
$0.999
0.04%
BNB
$649.65
1.94%
XRP
$2.20
1.35%
SOL
$180.43
0.05%
DOGE
$0.3124
2.24%
USDC
$1.00
0.03%
ADA
$0.8836
2.03%
STETH
$3,275.20
1.25%
TRX
$0.2442
0.26%
WBTC
$97,798.12
0.93%
AVAX
$36.57
1.92%
TON
$5.39
1.78%
LINK
$22.05
0.19%
SHIB
$0.00002151
0.54%
DOT
$6.83
1.62%
BCH
$445.09
1.91%
LEO
$9.30
0.39%
NEAR
$5.03
0.78%
BTC
$95,168
2.04%
ETH
$3,279.15
1.57%
USDT
$0.999
0.04%
BNB
$649.65
1.94%
XRP
$2.20
1.35%
SOL
$180.43
0.05%
DOGE
$0.3124
2.24%
USDC
$1.00
0.03%
ADA
$0.8836
2.03%
STETH
$3,275.20
1.25%
TRX
$0.2442
0.26%
WBTC
$97,798.12
0.93%
AVAX
$36.57
1.92%
TON
$5.39
1.78%
LINK
$22.05
0.19%
SHIB
$0.00002151
0.54%
DOT
$6.83
1.62%
BCH
$445.09
1.91%
LEO
$9.30
0.39%
NEAR
$5.03
0.78%
USD

Ad
Zoltan Vardai
10 hours ago


BITCOIN SOCIAL SENTIMENT DROPS TO YEARLY LOW, SIGNALING BTC BREAKOUT

Bitcoin could see another week of correction before it manages to recover above
$100,000, based on historical chart patterns.

22701 Total views
38 Total shares
Listen to article
3:19

News
COINTELEGRAPH IN YOUR SOCIAL FEED
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Social sentiment around Bitcoin has hit its lowest point in 2024, which could
signal an incoming recovery above the $100,000 mark for the world’s largest
cryptocurrency.

Bitcoin's BTC $95,168 price is currently down over 10% from its all-time high of
above $108,300 recorded on Dec. 17, trading above $97,150 as of 12:38 pm UTC,
Cointelegraph data shows.

BTC/USD 1-month chart. Source: Cointelegraph

Following the 10% correction, social media sentiment around Bitcoin fell to its
lowest level of 2024, to an average ratio of four to five positive versus
negative Bitcoin-related comments.

However, this low retail investor sentiment could be a sign of an incoming
Bitcoin breakout, wrote market intelligence platform Santiment, in a Dec. 22 X
post:

> “Vocal traders are now showing severe FUD, and that's good news for
> contrarians who know markets move in the opposite direction of retail's
> expectations.”

BTC social media sentiment, comment ratio. Source: Santiment

Other crypto analysts are also expecting an end to Bitcoin’s correction under
$100,000. On Dec. 20, Bitcoin’s daily chart produced three consecutive red
candles for the first time since the first week of November, which
coincidentally was the lead-up period to Donald Trump’s US election victory.

Related: Corporate execs sell stock at record levels as Bitcoin nears 130% YTD
returns


BITCOIN FRACTALS POINT TO UPWARD MOMENTUM, BUT ANOTHER WEEK OF BTC DOWNTREND
STILL IN PLAY

Bitcoin could be gearing up for a recovery before the end of 2024, based on
price fractal patterns that are used in crypto trading to identify key support
and resistance levels and potential trend reversals based on historical data.

Based on emerging fractals on the daily chart, Bitcoin could be set to recover
above $100,000 in the short term, wrote popular analyst Elja Boom, in a Dec. 20
X post:

> “We have seen this before.”

BTC/USD, 1-day chart, fractals. Source: Elja Boom

However, Bitcoin’s correction may extend another week, based on historical data
shared by crypto analyst Rekt Capital, who wrote in a Dec. 21 X post: 

> “In 2017, Week 7 as well as Weeks 8 and 9 were also corrective. In 2021, Week
> 6 and Week 8 were corrective. Bitcoin is currently in Week 7 and slowly
> transitioning into Week 8.”

BTC/USD, price discovery stage. Source: Rekt Capital

Related: Quantum computing will fortify Bitcoin signatures: Adam Back

Yet, Bitcoin’s price trajectory flashes optimistic signs for 2025. Improving
macroeconomic conditions and easing global monetary policy could bolster Bitcoin
price above $160,000 before the end of next year, according to crypto services
provider Matrixport.

How does MicroStrategy buy Bitcoin - Explained in under 3 minutes. Source:
YouTube

Magazine: BTC correction ‘almost done,’ Hailey Welch speaks out, and more:
Hodler’s Digest, Dec. 15 – 21

Explore more articles like this

Subscribe to the Finance Redefined newsletter

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analysis, and uncovers new financial opportunities to help you make smart
decisions with confidence. Delivered every Friday


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 * #Bitcoin
 * #Analysis
 * #Bitcoin Price
 * #Bitcoin Analysis
 * #Adoption
 * #Price Analysis


20 9 9 7 5 5 4
Read more
 * SUI, BGB, ENA and VIRTUAL show strength as Bitcoin looks for direction
 * ad
   Nasdaq-listed crypto firm acquires Liberty Road Capital, partners with Xapo
   Bank
 * Quantum computing will fortify Bitcoin signatures: Adam Back

Ad
Editor’s Choice
 * Trump nominates Stephen Miran as Council of Economic Advisors chairman
 * MicroStrategy Bitcoin purchases surpass 2021 bull market levels
 * BTC correction ‘almost done,’ Hailey Welch speaks out, and more: Hodler’s
   Digest, Dec. 15 – 21
 * Quantum computing will fortify Bitcoin signatures: Adam Back
 * Bitcoin social sentiment drops to yearly low, signaling BTC breakout

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