From cointelegraph by William Suberg
Bitcoin BTC$97,604 returned to $100,000 after the Dec. 11 Wall Street open as on-point United States macroeconomic data fueled a rebound.
Bitcoin traders boost BTC price targets as $100,000 returns
Data from Cointelegraph Markets Pro and TradingView tracked BTC price gains of nearly 4% on the day.
Initially struggling after the daily close, BTC/USD managed to tag the six-figure mark — traders appeared to forget the prior letdown over tech giant Microsoft’s Bitcoin treasury rejection.
Commenting on the latest market movements, popular trader Skew revealed a “passive buyer” lifting price.
“Wide orderbook here between supply & demand,” he noted about liquidity conditions on largest global exchange Binance.
Earlier, Skew noted that the current point of equilibrium (EQ) for the Binance BTC/USDT pair had been $97,000.
An optimistic prognosis came from fellow trader Roman, who, on daily timeframes, eyed a “completely reset” relative strength index (RSI).
The result, he told X followers, should be a “clean move” to the area around $112,000.
The popular trader known as Johnny on X had similar plans, seeing continued strength following Bitcoin’s repeated bounces in the mid-$90,000 zone.
