The post Bitcoin ($BTC) Bears Halt Christmas Rally: Crypto Market Insights appeared on BitcoinEthereumNews.com.

A $7,000 rally, which took the Bitcoin ($BTC) price to within touching distance of $100,000, was stopped in its tracks by the Bitcoin bears on Thursday. Currently back at just above $95,000, what do the last few days of 2024 hold for the king of the cryptocurrencies? No more rally into end of year? As we enter the last gasps of 2024 a Christmas rally has perhaps been wiped off of Santa’s Christmas to-do list once and for all. While there could potentially be one more surge from the bulls, which could take the price back to the top of the ascending channel and a new all-time high, the clock is starting to run down, and this latest reversal may have some more legs in it yet. U.S. Spot Bitcoin ETF outflow continues On the buy and sell side of things, the U.S. Spot Bitcoin ETFs have recorded a fourth straight trading day of net outflows. 3.57K BTC left the ETFs on Wednesday, making this an outflow total of 15.5K BTC (around $1.5 billion) for the period of these four days. MicroStrategy aiming to provide rocket fuel for Bitcoin price With this said, many Bitcoin bulls across social media are still predicting higher prices going into Q1 of 2025. This might be in part due to MicroStrategy calling a special shareholder’s meeting where the board seeks to increase the authorised Class A common stock from 330 million to 10.33 billion, and preferred shares from 5 million to 1.005 billion. The vote is very likely to be positive for the company, given that Chairman Michael Saylor holds nearly 50% of the voting power. The resulting authorisation would allow MicroStrategy to go ahead with a future massive buying spree which has the potential to create a virtuous buying circle that forces the…

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Filed under: News - @ December 26, 2024 9:25 pm