base-pidgin

Bit's exceptional 2024 performance has left everyone wondering if it will soon hit $100K. With a remarkable 129% year-to-date gain, driven by the April halving and macroeconomic factors, analysts are optimistic about further gains.

Bitcoin's post-halving surge has been impressive, with a 85% increase since April, crossing $95,000 in December. This rally has been fueled by a mix of macro and sector-specific factors, including its status as "digital gold" amid inflation concerns and geopolitical instability.

The chart shows a steady uptrend supported by strong on-chain metrics, such as rising active addresses and growing open interest in BTC futures. However, the RSI near 61 suggests the asset is nearing overbought territory, signaling potential short-term consolidation.

While breaking $100K is largely psychological, it represents a critical milestone for market sentiment. Bitcoin's dominance fell to 56.1% on November 30, as investors rotated into altcoins, suggesting the onset of a potential altcoin season.