Will Bitcoin Stabilize Above $100K: Altcoin Season Over?

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![](https://img.gateio.im/social/moments-3a9d845fab7d396b705b0936546c513c)Bitcoin![](https://img.gateio.im/social/moments-7030c92548383e5b9fa3bf8ae27bb87c)CryptocurrencyLast updated:December 21, 2024 05:33 EST![](https://img.gateio.im/social/moments-f4ba3ac4b130f0ff14daabef859bb0a4)Crypto WriterArslan Butt![](https://cimg.co/authors/791/image-2023-01-10t15-56-36-418z.jpg)Crypto Writer Arslan Butt About AuthorArslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis... Author Profile Share![](https://cryptonews.com/wp-content/themes/cryptonews/images/socials/purple-share.svg)![](https://cryptonews.com/wp-content/themes/cryptonews/images/socials/purple-x.svg)![](https://cryptonews.com/wp-content/themes/cryptonews/images/socials/purple-linkedin.svg)![](https://cryptonews.com/wp-content/themes/cryptonews/images/socials/purple-tg.svg)![](https://cryptonews.com/wp-content/themes/cryptonews/images/socials/purple-email.svg)![](https://cryptonews.com/wp-content/themes/cryptonews/images/socials/purple-copy.svg)CopiedLast updated:December 21, 2024 05:33 EST![](https://cryptonews.com/wp-content/themes/cryptonews/images/logo.svg)Why Trust CryptonewsCryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about CryptonewsAd DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. ![Bitcoin Price Analysis](https://img.gateio.im/social/moments-597083d990df71214ba218ddc04234fe)Bitcoin Price AnalysisBitcoin’s dominance in the cryptocurrency market is on the rise as it regains critical support levels, leaving altcoins struggling to maintain momentum. Trading at $98,466, Bitcoin shows a 4.30% recovery in the last 24 hours, driven by renewed investor interest and higher trading volumes. This upward movement reflects a strong buy-in sentiment, as the cryptocurrency eyes the $100,000 mark.## Bitcoin’s Technical Outlook: Resistance at $99,500Bitcoin faces a key resistance level at $99,500, a point where a downward trendline intersects with recent price activity. The formation of a tweezers top pattern on the 2-hour chart further adds to selling pressure at this level.A breakout above $99,500 could signal the beginning of a bullish continuation, targeting the next critical resistance levels at $102,650 and potentially $105,400.![](https://img.gateio.im/social/moments-fff66bce573ef070fff702811a65ae10)On the downside, Bitcoin finds support at $95,675, with further safety nets at $92,230 and $89,850. The 50-day Exponential Moving Average (EMA) at $97,800 provides nearby technical support, while the Relative Strength Index (RSI) at 50 indicates neutral market conditions. This balance suggests the market is at a tipping point, with a breakout or rejection at $99,460 likely to determine its next direction.## Bitcoin Dominance Surges: End of Altcoin Season?The attached chart underscores Bitcoin’s rising dominance, as altcoins lose ground amidst waning investor confidence. Altcoin season, represented by declining Bitcoin dominance earlier this year, seems to have ended as BTC regains market traction. ![](https://img.gateio.im/social/moments-4e600824f03817349dd985a567e2bc02)The blue curve representing Bitcoin dominance has steadily climbed, aligning with a price recovery, while the red altcoin dominance line falters.A tweet by @Negentropic\_ encapsulates the sentiment:  *“Is This the End of Altcoin Season? Bitcoin dominance surges, leaving altcoins lagging. A BTC breakout could change the game.”*> Is This the End of Altcoin Season? ⚠️  >   > Bitcoin dominance is surging after dipping below $100K, while altcoins are losing critical supports. Dominance has risen and resumed its upward trend, signaling a stronger BTC environment. 📈  >   > If BTC stabilizes above $100K, we might see a… pic.twitter.com/hnU3uHS9um> > — 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic\_) December 20, 2024This narrative reflects a broader market shift as traders prefer Bitcoin’s relative stability during uncertain conditions. For altcoins to regain momentum, Bitcoin would need to stabilize above $100,000, creating space for parallel growth in the market.## What This Means for InvestorsBitcoin’s price action at $99,460 is a make-or-break moment. A breakout above this key resistance could trigger a renewed rally, targeting $102,650 and beyond. However, failure to clear this level might lead to consolidation or a retest of the $95,675 support.> 🚨 Bitcoin's Key Resistance at $99,460! 🚨  > BTC eyes a breakout as it tests a critical trendline. Tweezers top pattern hints at selling pressure, but a move above $99,460 targets $102,650+!  > Support: $95,675 | RSI: 50.49 | EMA: $97,811  > Can Bitcoin break through?   > Chart analysis 👉 pic.twitter.com/YiAJio9wYk> > — Arslan Ali (@forex\_arslan) December 21, 2024For altcoin enthusiasts, the market’s direction hinges on Bitcoin’s ability to maintain dominance. The chart highlights altcoin stagnation, signaling that this is not the ideal time to overleverage on altcoins. Instead, investors might consider accumulating undervalued assets in anticipation of the next cycle.**Key Insights**:* **Critical Resistance**: Bitcoin faces a pivotal challenge at $99,460, with targets at $102,650 and $105,380.* **Support Levels**: Downside risk exists with supports at $95,675, $92,230, and $89,852.* **Dominance Shift**: Bitcoin dominance rises, signaling an end to altcoin season.–You might also like**Bitcoin Price Prediction 2024 – 2034**## $BEST Wallet Raises $5.22M: Final Hours to InvestBest Wallet continues revolutionizing Web3 by supporting thousands of cryptocurrencies across 50+ major blockchains, including Bitcoin and Ethereum. Offering seamless options to buy, sell, and swap both same- and cross-chain assets without requiring KYC verification, the platform is gaining significant traction.The $BEST token presale has now raised an impressive $5,219,590.17, with only 5 hours until the next price increase. 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