Bitcoin (BTC), the largest cryptocurrency by market capitalization, has experienced a remarkable uptrend over the past three weeks, inching close to the elusive $100,000 mark.\u00a0<\/p>\n
This follows Donald Trump\u2019s victory<\/a> in the presidential election over Democratic Party candidate Kamala Harris, which boosted investor confidence in a new era for the broader industry.<\/p>\n This has led to increased adoption of the leading crypto, with major corporations worldwide adopting it as a strategic reserve asset<\/a>. In addition, inflows into exchange-traded funds (ETFs) have increased, further contributing to the bull run.<\/p>\n However, after its recent 7% correction, the Bitcoin price fell to around $91,000. Then it regained the $96,000 mark, raising questions about its ability to break through the psychological $100,000 barrier<\/a> before the end of the year.<\/p>\n The peak price of $99,540 achieved last week has left investors wondering whether Bitcoin can sustain its momentum or if selling pressure <\/a>will lead to further consolidation.\u00a0<\/p>\n Despite the uncertainty, Glassnode founders Yann Allemann and Jan Happel have provided insights into Bitcoin\u2019s potential trajectory as December approaches. They acknowledge the challenges ahead but maintain that the $100,000 target remains feasible.<\/p>\n In a social media post<\/a> on X (formerly Twitter), Allemann and Happel outlined critical levels to watch in Bitcoin\u2019s price action.\u00a0<\/p>\n They noted that while Bitcoin is currently in a bullish channel, resistance at $97,200 has yet to be overcome. Should this resistance hold firm, a retest of the $92,700 support level\u2014aligned with the Daily 20 Simple Moving Average<\/a> (SMA)\u2014is likely.\u00a0<\/p>\n This support zone is deemed crucial by the two founders for maintaining the bullish channel and keeping the $100,000 target within reach.<\/p>\n Adding to the bullish sentiment, crypto analyst Ali Martinez highlighted <\/a>historical trends indicating that Bitcoin has typically surged in December following US presidential elections.\u00a0<\/p>\n In the last two cycles, Bitcoin recorded gains of 30% and 46%, leading Martinez to speculate that if history repeats itself, Bitcoin could close out the year in the range of $125,000 to $140,000.<\/p>\nCritical Support At $92,700<\/h2>\n
Bitcoin Could Surge To $125,000\u2013$140,000 By Year-End<\/h2>\n