The Late-December Santa Rally Conditions are looking interesting, with Bitcoin's price hovering around $90,000. The key factors influencing the market are spot demand, macro clarity, and the $90K reclaim.
Current Market Situation
Bitcoin's price is currently at $87,588, with a market cap of $1.76 trillion.
The cryptocurrency is facing resistance at $90,000, with support at $84,000.
Analysts are divided, with some predicting a rally to $100,000 or even $120,000, while others warn of a potential drop to $70,000
Influencing Factors
Macro Conditions*: The US Federal Reserve's policy and inflation data are impacting market sentiment.
Institutional Investment*: Bitcoin ETFs have seen inflows, indicating growing institutional interest.
Technical Analysis*: The cryptocurrency is consolidating, with a potential breakout above $90,000 or a drop below $84,000
