Major altcoins are experiencing significant year-end selling pressure while Bitcoin traders position for potential movement within the $80,000 to $100,000 range. The question on everyone’s mind: can Bitcoin break through to six figures as altcoins struggle?
Altcoin Weakness Deepens
Ethereum, Cardano, and Solana have slipped notably during thin year-end trading sessions. Bitcoin currently hovers around $87,300, down approximately 3%, while altcoins show even steeper declines as volumes remain suppressed.Trading volumes have thinned noticeably in recent sessions, amplifying price moves and reinforcing a defensive market tone. This pattern typically characterizes late December as traders close positions before year-end and institutional desks reduce activity for holidays. At Shelbit, we help traders navigate these low-liquidity periods by providing tools that identify when thin volumes create exaggerated price movements versus genuine trend shifts.
The $80K-$100K Bitcoin Range
Despite current weakness, Bitcoin traders continue eyeing range play between $80,000 and $100,000. This range has defined Bitcoin’s action for weeks, with resistance preventing sustained breaks above six figures while support around $80,000 has held firm. Asian stocks cooled after a seven-day winning streak, while global equities dipped for the first time in eight sessions, creating additional headwinds for risk assets including crypto. However, some analysts believe year-end positioning could create unexpected volatility.
Why Year-End Matters
December historically sees profit-taking as traders lock in gains for tax purposes or portfolio rebalancing. This selling pressure concentrates in altcoins more than Bitcoin, which maintains relatively stronger positioning as institutional interest remains focused on BTC through ETF vehicles. The year-end dynamic creates opportunities for contrarian traders. When fear dominates and everyone sells, patient buyers often find attractive entry points. However, timing remains crucial because thin liquidity can trigger sharp moves in either direction. For traders using cryptocurrency platforms like Shelbit, understanding seasonal patterns helps distinguish temporary year-end effects from structural market shifts requiring different strategies.
AI Predictions Vary Widely
ChatGPT forecasts Bitcoin at $92,000 by December 31, representing a 4.5% gain from current levels. This optimistic view assumes year-end momentum and continued ETF inflows drive prices higher. For Ethereum, ChatGPT projects $3,200, while Solana could reach $195. Claude offers more conservative predictions, placing Bitcoin at $90,000, Ethereum at $3,100, and Solana at $185 by year-end. This cautious stance weighs downside risks like profit-taking and thin holiday liquidity more heavily. DeepSeek positions between the two, forecasting Bitcoin essentially flat at $88,000, Ethereum at $3,300, and Solana at $200. All three AI models cluster within relatively tight ranges, suggesting consensus that dramatic moves are unlikely in the final days of 2024.
Can Bitcoin Actually Hit $100K?
Several factors support a potential Bitcoin surge to $100,000. Spot Bitcoin ETFs continue attracting institutional capital despite market volatility. Exchange reserves remain at multi-year lows, indicating supply is locked away rather than available for selling. Technical patterns show Bitcoin consolidating rather than breaking down. However, significant resistance exists at psychological round numbers. Bitcoin briefly touched $108,000 in mid-December before retreating, demonstrating that selling pressure intensifies as prices approach six figures. The path to $100,000 requires either: sustained institutional buying that overwhelms selling pressure, a catalyst that triggers FOMO among sidelined investors, or thin liquidity that allows large buyers to push prices higher with relatively small volume.
At Shelbit, we provide real-time market analysis tools that help traders identify when conditions favor breakouts versus when resistance likely holds.
Trading Strategy for Year-End
Given thin volumes and heightened volatility, traders should adjust strategies. Use tighter stop-losses during low-liquidity periods when price swings amplify. Reduce position sizes to account for unpredictable moves that thin trading can produce. Focus on Bitcoin over altcoins if seeking relative stability, as BTC typically maintains better liquidity. Watch for volume confirmation before chasing breakouts. Year-end rallies built on thin volume rarely sustain once normal trading resumes in January. Position for range-bound trading rather than directional bets unless clear catalysts emerge. The year-end selling hitting ETH, ADA, and SOL creates potential opportunities for patient buyers, but Bitcoin’s ability to reach $100,000 likely depends on broader market conditions improving and institutional demand accelerating rather than thin year-end positioning alone.
