{"id":109698,"date":"2024-12-19T21:22:00","date_gmt":"2024-12-19T17:22:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=109698"},"modified":"2024-12-20T01:04:41","modified_gmt":"2024-12-19T21:04:41","slug":"bitcoin-attempts-to-recover-despite-recent-selloff","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/bitcoin-attempts-to-recover-despite-recent-selloff\/12\/19\/market-updates\/","title":{"rendered":"Bitcoin Attempts to recover Despite Recent Selloff"},"content":{"rendered":"\n<p>The Bitcoin market demonstrated resilience on Thursday, recovering some of its losses from the previous day&#8217;s decline. Prices stabilized near the $100,000 level, with a notable rebound of approximately $2,000, suggesting a strong underlying demand for the cryptocurrency. The most famous cryptocurrency traded at $102,300 earlier on Thursday, before sliding to $96,181 at the time of writing. <br><br><strong>Market Sentiment Remains Bullish<br><\/strong><br>Despite the recent pullback, market sentiment towards Bitcoin remains largely bullish. Investors appear to be adopting a &#8220;buy the dip&#8221; strategy, accumulating Bitcoin during periods of price weakness. This bullish sentiment prevails despite the Federal Reserve&#8217;s recent hawkish stance, which typically exerts downward pressure on risk-linked assets.<br><br><strong>Technical Factors<br><\/strong><br>Support Levels: Significant support levels exist near $95,000 and the 50-day EMA around $92,000, providing a cushion against further downside.<br><br>Upside Potential: The market is likely to continue its upward trajectory, with a potential target of $110,000.<br><br>Volatility: Expect continued volatility in the near term, especially with the holiday season approaching, which may see reduced trading activity from some institutional investors.<br> <br>The recent price action suggests strong underlying demand for Bitcoin. Despite the Fed&#8217;s hawkish stance and potential for near-term volatility, the overall market sentiment remains bullish, with investors continuing to accumulate Bitcoin during periods of price weakness.<br><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin market demonstrated resilience on Thursday, recovering some of its losses from the previous day&#8217;s decline. Prices stabilized near the $100,000 level, with a notable rebound of approximately $2,000, suggesting a strong underlying demand for the cryptocurrency. The most famous cryptocurrency traded at $102,300 earlier on Thursday, before sliding to $96,181 at the time &hellip;<\/p>\n","protected":false},"author":13,"featured_media":101614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[],"class_list":["post-109698","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=109698"}],"version-history":[{"count":5,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109698\/revisions"}],"predecessor-version":[{"id":109706,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109698\/revisions\/109706"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/101614"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=109698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=109698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=109698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}