10TH DECEMBER LATEST CRYPTO NEWS DIGITAL MAGAZINE

Bitcoin has retreated to around $97,000 as bears continue to strongly defend the $100,000 resistance level. According to Maartuun, a contributor to CryptoQuant, long-term holders have sold off 827,783 Bitcoin since November 8, signaling potential profit-taking. In a detailed thread on X, Maartuun pointed to additional indicators suggesting that Bitcoin might be approaching a local top.

However, this hasn’t deterred MicroStrategy, one of the largest corporate Bitcoin holders, from continuing its aggressive accumulation. Between December 2 and December 8, the company added 21,550 Bitcoin to its holdings at an average price of $98,783.

Bitcoin is struggling to hold above the key psychological level of $100,000, signaling potential exhaustion among bulls. If the price dips further, it could test the 20-day EMA at $95,673. A strong bounce from this level would show that buyers are stepping in on every minor dip, keeping the uptrend intact. This would increase the chances of a retest of the all-time high at $104,088. A breakout above this resistance could ignite the next rally, pushing BTC/USDT toward $113,331 and eventually to $125,000. On the flip side, if Bitcoin slips below the 20-day EMA, it might indicate profit-taking by bulls. This could drag the pair down to $90,000, with further losses potentially targeting the 50-day SMA at $84,719. Ether faced stiff resistance at $4,094 on December 6, showing that bears are actively defending this level. Sellers are now aiming to bring the price down to the 20-day EMA at $3,633, which serves as critical near-term support.

A strong rebound off this level would signal positive market sentiment and enhance the chances of a breakout above $4,094. If bulls manage to clear this hurdle, the ETH/USDT pair could rally to $4,500. However, if the price breaks below the 20-day EMA, it may trigger profit-booking by short-term traders, potentially dragging the pair down to the downtrend line, where further support would be tested.

Lastly please check out the advancement’s happening in the cryptocurrency world

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