US investors drive up the Bitcoin price

On December 18, 2024, the US Federal Reserve shocked the market with its strict expectations for 2025. As a result, BTC began to correct sharply: the price fell from 108,000 to 91,000 USD, and concerns about a possible end of the bull market began to spread.

American investors seemed to temporarily lose interest in BTC, but the tide now seems to be turning.

Are American investors driving up the Bitcoin price?

How can we even determine which investors are responsible for the rise in the Bitcoin price ? After all, on an exchange you cannot see which countries the buyers come from.

That’s true, but the so-called Coinbase Premium at least gives a rough indication of this. A positive Coinbase Premium means that the Bitcoin price on the US exchange Coinbase is higher than on Binance.

Since the end of December, we have seen a negative premium, meaning that BTC was cheaper on Coinbase than on Binance. But now the premium has almost neutralized again.

This shows that interest in BTC among American and institutional investors is returning. This is a positive signal for the digital currency.

Breaking the 100,000 USD mark is a good signal for Bitcoin

According to pseudonymous analyst Scient, the BTC price is at least back on track at 100,000 USD.

In the tweet below, Scient explains that BTC needed to break through the 99,000 USD mark, which it has managed to do. However, this mark now needs to be turned into support. Whether this is successful will become clear in the next few days.

$BTC, Unless we breach $99k and flip it to support, I think we will see lower prices in Jan.

Pretty simple triggers for me here: Break and flip $99k or retest or $90-88k zone.#BTC #BTCUSDT pic.twitter.com/YaiQIonmvT

— Scient (@Crypto_Scient) January 4, 2025

If this succeeds, there is no reason to worry, according to Scient. However, if the price falls below the 99,000 USD mark again, there could be a drop to the 90,000 to 88,000 USD range.

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Margharet Tess

Editor, Developer at Cryptheory Labs

I have been active in the cryptocurrency world for over 6 years, during which I have written countless articles about this sector. What fascinates me most about cryptocurrencies is their technological aspect and the problems they aim to solve. In the past three years, I have ventured into app development and am currently working on a larger project called P2E Buzzer. Stay tuned for the surprise. 🙂 My previous experiences: Business2Community.com, TradingPlatforms.com

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