Bitcoin Price Stagnates Near $95,000: Will It Break $100,000?

Bitcoin Price Prediction: Key Resistance Level at $100,000 Amid Rate-Cut Expectations

Bitcoin Price – Bitcoin (BTC) started the week on a weaker note, falling nearly 2% to around $95,000. The cryptocurrency has been trading within a narrow range of $90,000 to $98,000 for the past two weeks, facing persistent resistance near the key psychological level of $100,000. According to BRN analyst Valentin Fournier, despite strong market catalysts and growing investor confidence, Bitcoin continues to struggle with this psychological barrier. Fournier noted, “Profit-taking is evident, and a significant sell wall of over 4,000 BTC, valued at around $384 million, must be cleared before higher levels are achievable.”

Macro-Economic Factors Impacting Bitcoin’s Price

One of the key macroeconomic factors influencing Bitcoin’s price is the U.S. Federal Reserve’s interest-rate decisions. Investors have recently revised expectations, scaling back the likelihood of aggressive rate cuts. The CME FedWatch tool now shows a 61% chance of a 25 basis-point rate cut at the upcoming December 18 Federal Open Market Committee (FOMC) meeting, down from 67% on Friday. This shift in expectations has supported the dollar’s recent rise, putting additional pressure on risk assets like cryptocurrencies. Since the U.S. election on Nov. 5, the U.S. dollar index has climbed from a low of 103.42 to 106.22, according to TradingView data.

Key Economic Data to Watch

This week, investors will closely monitor key economic indicators such as the November non-farm payrolls report and speeches from Federal Reserve officials, including Chair Jerome Powell’s address at the New York Times DealBook Summit. These events could offer insights into inflation trends and provide clues about future monetary policies that could influence both the U.S. dollar and Bitcoin’s price trajectory.

U.S. Stock Market Reaches Record Highs Despite Tariff Concerns

Despite Bitcoin’s price correction, U.S. stock markets have surged to record highs. The Dow Jones and S&P 500 both reached fresh record highs on Friday, with the Dow climbing 7.5% in November. However, concerns over President-elect Donald Trump’s proposed tariffs remain, potentially affecting global trade and the cost of everyday goods.

Optimism for Risk Assets Despite Economic Uncertainty

Despite these concerns, deVere Group CEO Nigel Green remains optimistic about the long-term outlook for risk assets. He predicts an 80% chance of a positive market finish this year, in line with historical trends showing December as a typically favorable month for investor activity.

Disclaimer: This website’s content is for informational purposes only and does not constitute financial advice, with all cryptocurrency purchases carrying inherent risks.