After a day like that of December 5, 2025, many people could express their arguments against a crypto market which often comes under criticism for its movements that are not very predictable and subject to manipulation. Pragmatically, price action punishes excesses in a complete reset of forces.
A historic day in many ways!
It is Friday December 6, 2024 and the price of Bitcoin is moving around $98,000.
This day of Thursday, December 5, 2024 will undoubtedly remain engraved in the memory of crypto speculators. The day started particularly well since from 8 a.m., we were able to follow several livestreams celebrating the long-awaited crossing of 100,000 dollars.
The day saw the asset maintain a high consolidation, suggesting that the breakout could be validated at the daily close. However, the US market decided otherwise since from the opening, BTC showed signals of weakness leading later to a reintegration below $100,000, then to a powerful flash crash.
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During this event, $415 million was liquidated in Bitcoin alone. This is more than the $377 million recorded on August 5, 2024 during the “carry trade” event. To find higher liquidation levels, we must now go back to December 2, 2021.
As a result, the market was very effectively cleaned up, which was necessary given the euphoria generated by a 6-digit Bitcoin. From now on, the uncertainty is clearly depicted on the graph and although the underlying trend remains upward, it would be legitimate to add weight to possible corrective scenarios.
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What to expect after this historic day?
The price of BTC has therefore re-entered its range below $100,000 as we mentioned during the introduction. Reintegration movements offer good probabilities of returning to the opposite terminal. This is exactly what happened in the blink of an eye since in 10 minutes, BTC lost $98,000, touched the lower limit of the range around $91,000 before regaining 95,000.
A very important movement which leaves behind a candle with 2 large wicks and a small body, a water carrier or as crypto traders often like to call it, a “Darth Maul” in reference to the saber of this well-known Sith . This candle generally highlights, like any Doji type candle, indecision, a balance between buyers and sellers who defend their positions.
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We could therefore continue to evolve in the range of 90,000 to 100,000 dollars while Bitcoin digests this movement and redraws a more readable price structure. In addition, with speculative excesses having been partially erased, the asset could resume its growth, driven by spot ETFs which continue to record record purchases ($747 million yesterday).
On the contrary, the asset could lose the confidence of investors, initiate a decline and revisit the lower limit of its range on which it could confirm or not the presence of buyers by relaunching the asset in a new increase towards the opposite limit.
If, however, the $90,000 support were to give way, then Bitcoin could enter a corrective phase and aim, without calling into question the uptrend, for bearish targets close to $80,000..
On these levels, we can find in particular the 50-day moving average which could block prices.
Daily Bitcoin price graph
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In summaryBitcoin has just gone through a historic day in which the emotional elevator was at the rendezvous of a price action worthy of a phase of bull market, euphoria, levers, overexposure and unexpected crash. BTC must now digest this movement and structure the price action.
So, do you think BTC can cross $100,000 again? Don't hesitate to give us your opinion in the comments.
Have a nice day and we’ll see you next week for a new analysis of Bitcoin.
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Sources: TradingView, Coinglass, Glassnode
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Investments in cryptocurrencies are risky. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your capacity to lose part of this savings. Do not invest if you are not prepared to lose all or part of your capital
Analyst at Cryptoast Research for several years, I carry out in-depth monitoring of the crypto market to analyze the next narratives while keeping an eye on the financial markets.
Emmanuel Lazaro
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