TL;DR

• After a correction below $94,500, BTC rebounded to almost $99,000, with certain indicators signaling a further push to the north.
• Some analysts see BTC’s next targets ranging from $101,000 to $275,000, supported by bullish technical patterns and market sentiment.

New BTC Rally Incoming?

The primary cryptocurrency became the talk of the town at the start of the month when its price finally conquered the $100,000 psychological level. On December 5, it rallied to a new all-time high of over $103,500, triggering huge enthusiasm across the crypto community. In the following days, BTC passed through enhanced volatility, dancing around the $100K mark. 

The beginning of this week, though, offered a severe correction that suppressed the valuation below $94,500. In the past several hours, however, BTC has recovered some ground and is currently trading at approximately $98,700 (per CoinGecko’s data). 

One important indicator suggests that the leading digital asset might be poised for a much more substantial resurgence in the short term. This is the BTC supply stored at exchanges, which, according to Cry