Bitcoin (BTC) Price Prediction: Will BTC Skyrocket After the Christmas Period?

The price of Bitcoin is still in a sideways trend ranging between $92,000 and $100,000. Past experience of bull markets suggest that this phase normally unfolds just before major trends commence.

The price of Bitcoin continues to trade sideways, with a range of $92,000 to $100,000. This consolidation phase is typically seen at the end of bull markets. However, rallies after Christmas have historically led to large price movements, making this period crucial for the Bitcoin community.

According to YouTuber Crypto Rover, Bitcoin is showing bullish divergence on the hourly chart. Despite the lower lows in the price, the RSI is making higher lows, indicating a potential reversal. This signal aligns with the current price action, as Bitcoin finds strong support at the key $92,000 level. This area, which previously acted as resistance, has now become a crucial support.

Recent institutional activity highlights the growing trust in Bitcoin. Entries from large investors like BlackRock, ARK Invest, and Fidelity amounted to $475 million. The institutional demand was further evident with BlackRock, one of the world’s largest investment firms, purchasing $56.51 million in Bitcoin. Meanwhile, Ethereum ETFs attracted $17 million in investments, indicating the market expansion. These investments suggest that institutions are utilizing the current prices to invest for the long term.

Rover also mentioned that Bitcoin tends to rally after the Christmas period, often skyrocketing. Based on the current data, a similar trend may be observed this year. The consolidation phase suggests BTC is moving from weak to strong hands. Such periods have preceded major price rises, leading many to believe this could be the start of another large bull market.

Other cryptocurrencies are also gaining attention, with analysts predicting the start of altcoin season. Bitcoin’s market dominance chart suggests this possibility, indicating a potential decrease in BTC's dominance, allowing other coins to outshine. For example, Ethereum is seen consolidating in a symmetrical triangle on the weekly chart, which typically precedes price breakouts. Analysts are optimistic about ETH hitting new all-time highs, and 2025 could be the asset's year based on past trends.

As the market shrugs off consolidation and enters a possible expansionary phase, the excitement toward BTC and other cryptocurrencies continues. The technical analysis, institutional money, and historical trends suggest that the crypto asset may be poised for a significant rally, which could propel prices to new record highs in the coming months.