Bitcoin and crypto markets are looking to end the year in a cautious equilibrium, with market sentiment remaining cautious despite modest price gains.
The total market capitalization has remained at around $2.97 trillion, reflecting a gradual increase rather than a decisive surge. Although volatility has decreased compared to the October crash, overall market activity suggests the market is in a correction rather than losing momentum.
Bitcoin made a brief recovery today, reaching over $90,000, but that didn’t last long, as the price fell to around $87,000.
As investors focus on the BTC price just two days before the new year, renowned market analyst Il Capo of Crypto has shared his latest analysis.
Il Capo, known as a bearish analyst in the market, said he expects Bitcoin to rise.
The analyst noted that Bitcoin reached a local low ($80,500) on November 21st.
And Bitcoin has been fluctuating between $84,000 and $90,000 for over a month.
The analyst said $90,000 is the most important level for Bitcoin to recover.
If Bitcoin breaks through the important $90,000 level, it could move above $95,000. After that, if Bitcoin maintains its uptrend and experiences a breakout above $95,000, it could rise to $100,000.
“$90,000 is the key level to get back. If that happens, >$95,000. If we can clearly break through that, it will be $100,000.”
I think this is a possible scenario. We expect it to increase.”
*This is not investment advice.
