Can Bitcoin Price Beat Its 2024 Christmas High of $94,000 This Festival Season?
The post Can Bitcoin Price Beat Its 2024 Christmas High of $94,000 This Festival Season? appeared first on Coinpedia Fintech News
Bitcoin is struggling to regain momentum this Christmas, trading below the $90,000 mark despite the festive mood in the market. There are hopes for a holiday rally amid the bearish price action.
At the time of writing, Bitcoin closed near $86,935, slightly lower after failing to hold recent gains. Thin holiday trading volumes, ETF outflows, and a large options expiry have all added pressure on the world’s largest cryptocurrency.
How Bitcoin Performed at Christmas in Recent YearsBitcoin’s Christmas performance has varied sharply over the past three years:
- 2023: $43,665
- 2024: $94,120
Last year’s Christmas rally to above $94,000 set a high bar. This year, Bitcoin is well below that level, raising questions about whether another festive breakout is possible.
Why Bitcoin Is Stuck Below $90,000Bitcoin has been consolidating in a tight range between $85,000 and $90,000 throughout December. Analysts say low liquidity during the holidays has reduced strong price moves in either direction.
ETF-related selling and a major options expiry have also limited upside momentum. However, from a technical perspective, signals are mixed.
Historical #Bitcoin prices on Christmas Eve