Key highlights:
- A powerful rebound pushes Bitcoin above $93K after a sudden crash.
- Analysts say one key zone could unlock a run toward $100K.
- Indicators suggest the latest correction may have already bottomed.
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Bitcoin climbed back above $93,000 following its sharp December 1st pullback, recovering all of its two-day losses. The Bitcoin price reached a peak of $93,958 at the start of trading on December 3rd.
The price action in the Bitcoin price market also attracted traders in the traditional markets, as options on BlackRock’s IBIT Bitcoin ETF broke into the top 10 as one of the most traded options contracts in the United States.
Recovery signals strength returning to the market
Michaël van de Poppe, founder of MN Fund, said on December 2 that Bitcoin’s rebound looks promising after what he called a “strange drop” at the beginning of the month. He noted that maintaining strength above the $92,000 level is essential for a larger move.
BTC/USD 3-hour chart. Source: Michael van de Poppe via X
“If that breaks, then I’m sure we’ll start to see a new all-time high and a test at $100K,” van de Poppe said.
The analyst also compared the recent decline to major market crashes of previous years, pointing out that indicators reached extreme levels, surpassing readings from the Luna, FTX, and COVID-related sell-offs.
According to him, this strongly suggests that the correction may have already found its bottom.
Key support zone holds as traders watch for a breakout
Before Bitcoin’s rebound, analysts highlighted the $86,000–$88,000 range as a critical support zone that had already survived dozens of tests in recent months.
Crazzyblockk, an analyst, emphasized that holding this level reduces selling pressure and keeps bullish momentum intact.
Source: Crazzyblockk via CryptoQuant
“Trading above shows reduced selling pressure as active traders maintain profitable positions,” he said, adding that the upcoming week could determine whether Bitcoin maintains its upward structure.
What comes next for Bitcoin
Experts warn that a drop below the key support zone could ignite a shift from accumulation to profit-taking among large market participants, opening the door to deeper downside levels. For example, some analysts have suggested that $55,000 would be a “worst case” bottom for Bitcoin in the event that the market breaks down.
But as long as Bitcoin holds above $92,000, analysts believe the path toward $100,000 and a bullish Bitcoin price prediction remains firmly in play.
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Source:: Bitcoin Recovers to $93K and Analysts See a Run Toward $100K