Cryptocurrency market today, December 8: Is Bitcoin about to enter an earthquake?

(NLDO) - Experts predict that Bitcoin could rise to the $95,000 range or fall to $80,000 if buying power weakens.

On the evening of December 8, the cryptocurrency market increased sharply. Data from OKX shows that in the past 24 hours, Bitcoin increased by nearly 3%, trading around 91,600 USD.

Other major coins also rose. Ethereum rose more than 3.5% to $3,140; XRP rose more than 3% to $2; BNB rose 2.5% to $908. Solana led the gains with more than 5% to $138.

According to Cointelegraph , Bitcoin opening the week above the $90,000 mark is reinforcing expectations for a year-end rally.

However, strong fluctuations have made traders cautious, as Bitcoin continuously fluctuates in the range of 87,000 - 90,000 USD.

Analysts have two scenarios. One is that Bitcoin could test the $95,000 zone before determining the next trend. Two is that the $80,000 zone remains risky if buying power weakens.

On the other hand, the pressure to collect goods at low price areas is increasing. Many experts believe that if Bitcoin holds above $92,000, the momentum towards the psychological mark of $100,000 is completely possible.

Bitcoin is trading in the $91,600 region Source: OKX

Technically, the $84,000 area is considered an important "boundary" where buying pressure needs to be maintained to protect the long-term uptrend. This is also an area that investors will closely monitor this week.

Macro factors continue to dominate the market. The US Federal Reserve (FED) meeting is the focus, as expectations of interest rate cuts are creating positive sentiment for risky assets. However, the weak inflation and labor market picture makes the FED's decision more unpredictable.

As US stocks approach historic peaks, the cryptocurrency market is less active but still maintains positive signals.

Leverage volumes are now down to their lowest since April, suggesting reduced volatility risks.

Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-8-12-bitcoin-sap-buoc-vao-con-dia-chan-196251208211348963.htm