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Bitcoin shrugged off concerns about a major price drop during the year’s last options expiry. Instead of falling, it climbed to $97,330 shortly after the event.
Here’s What You Need to Know
Big Expiry Event: On Dec. 27, $14.2 billion in Bitcoin options expired. Many expected prices to drop to the “max pain” level of $85,000, but Bitcoin held its ground.
What’s Next? Analysts say Bitcoin could hit $110,000 in January, thanks to global liquidity trends.
ETFs Are Driving Bitcoin’s Momentum
ETF Comeback: Bitcoin ETFs bounced back on Dec. 26, pulling in $475 million in new investments. These ETFs have been a big part of Bitcoin’s success, driving 75% of new money into the market in 2024.
Breaking $98K: Bitcoin faces resistance at $98,000. If it breaks through, it could trigger $885 million in short position liquidations.
Looking Forward to 2025
Institutional Money Returning: With the holidays over, big investors are expected to jump back in, potentially pushing Bitcoin above $105,000.
Big Predictions: Some analysts think Bitcoin could hit $160,000 next year, thanks to better economic conditions and supportive policies in the U.S.
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