Bitcoin Price Is Repeating December 2023 Scenario, Is a Breakout Coming?

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Bitcoin Repeats History: Is a New Price Boom Near?

Bitcoin (BTC) is testing the $100,000 support level , after falling to $98,000 during the recent sharp move.

Many experts say that the current price movement is similar to the end of 2023, raising expectations of a major breakout.

Similar to December 2023 Scenario
The cryptocurrency market has just undergone a sharp correction after the Fed cut interest rates by another 25 basis points and signaled a slowdown in the pace of interest rate adjustments in 2025.

Bitcoin fell as much as 9.2% from its all-time high of $108,135 , falling below $99,000 , but quickly recovered to $100,000 on Thursday morning. BTC is now hitting resistance at $102,000 , up slightly by 2% .

Famous trader Follis believes that this price action is very similar to the December 2023 scenario.

At that time, Bitcoin also fluctuated between $40,000 - $45,000 before breaking out strongly in January 2024, reaching a 47% increase and setting a new peak at $73,000 .

According to him, Bitcoin could drop to $88,000 before rising to new highs.

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Slow and Steady: Bitcoin Is “Gathering Energy”
Analyst Daan Crypto Trades agrees with this prediction, saying that BTC is in a “slow climb” phase before a real breakout.

Daan emphasized that the short-term chart may not be positive, but the long-term trend remains positive.

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According to Rekt Capital , the $100,000 support level is key to sustaining the uptrend. If Bitcoin fails to hold this level, the price could fall below $98,000 , breaking the previous important resistance level.

Conversely, if it closes the day above $101,000 , Bitcoin will maintain its momentum and prevent further declines.

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Rekt Capital warns that this is the first correction phase after the “parabolic price increase cycle” after the halving and could last 6-8 weeks . However, after this correction, there is a high possibility of a “second price increase.”

Current Situation
As of writing, Bitcoin is trading at $98,900 , down 5.1% over 24 hours .

Despite facing many challenges, the market still expects recovery and a new boom in the coming time.

Will Bitcoin continue to repeat its historical pattern and set new highs, or is this a sign of a larger correction cycle? Investors should be cautious as they watch key support levels.

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