Bitcoin (BTC) Reclaimed $100,000 After Registering an Increase of Over 4% in the Past 24 Hours

Bitcoin (BTC) reclaimed $100,000 after registering an increase of over 4% in the past 24 hours as the crypto market rallied following the release of the November inflation data.

Bitcoin (BTC) price experienced significant volatility last Thursday as it set a new all-time high before dropping to an intraday low of $92,285, briefly dipping below the 20-day SMA before settling at $97,093. However, it recovered on Friday, registering an increase of almost 3% to climb above $99,000 and settle at $99,695, ultimately falling just short of the $100,000 mark. BTC remained positive over the weekend, registering a marginal increase on Saturday and then rising by 1.32% on Sunday to climb above $100,000 and settle at $101,043.

BTC’s foray above $100,000 was short-lived, as sellers returned to the market on Monday. The crypto market’s sudden crash on Monday saw BTC dip to an intraday low of $94,177 as it slipped below the 20-day SMA. However, it recovered from this level to settle at $97,434, ultimately registering a drop of 3.57% and settling above the 20-day SMA. Sellers retained control on Tuesday as BTC fell to a low of $94,307 before settling at $96,914. The price recovered on Wednesday as markets rallied following the release of November’s consumer price index numbers. As a result, BTC registered an increase of over 4% to reclaim $100,000 and settle at $100,900. The current session sees BTC marginally down as sellers look to push it below $100,000.

If sellers retain control, BTC could slip below $100,000 and drop to $97,000, where the 20-day SMA could prop up the price. On the other hand, if buyers regain the upper hand, BTC could climb to $105,000.

Ethereum (ETH) Price Analysis

Ethereum (ETH) is looking to go above the resistance at $4,000 as it makes a strong recovery from Tuesday’s low of $3,521. ETH experienced significant volatility on Thursday as it rose to an intraday high of $3,957 and fell to an intraday low of $3,644 before settling at $3,787, registering a decline of 1.48%. However, it recovered on Friday, registering an increase of almost 6% to climb above $4,000 and settling at $4,003. ETH registered a marginal drop on Saturday, slipping below $4,000 and settling at $3,999. However, it reclaimed $4,000 on Sunday after a marginal increase pushed the price to $4,007.

ETH could not remain above this level as bearish sentiment intensified on Monday after a sudden crash in the market. As a result, ETH dropped over 7% to an intraday low of $3,504 before recovering to climb above the 20-day SMA and settle at $3,716. Sellers retained control on Tuesday as the price dropped to a low of $3,521 before settling at $3,630 after a drop of 2.32%. ETH made a strong recovery on Wednesday, rising almost 6% and moving to $3,834. The current session sees ETH up nearly 3% as buyers look to push it above $4,000. A move above this level could see ETH push towards $4,400.

Solana (SOL) Price Analysis

Solana (SOL) has rebounded strongly from a low of $203 as it looks to move above the 20-day SMA and the resistance at $240. SOL faced considerable volatility almost all of last week as it attempted to move above the 20-day SMA but was repeatedly pushed back. SOL reached an intraday high of $244 last Thursday as it briefly went past the 20-day SMA. However, buyers lost momentum after reaching this level, and SOL fell back, dropping to $236 and registering an increase of 2.84%. Friday saw SOL push above the 20-day SMA again, but it fell back to $237, registering only a marginal increase.

With resistance persisting at this level, SOL could only register a marginal increase on Saturday before dropping on Sunday to settle at $237 after a drop of 0.48%. Bearish sentiment intensified considerably on Monday as SOL plummeted 8.55%, driven by a broader market crash. As a result, the