Explore how Bitcoin’s new all-time high above $106,000 solidifies its position in six-figure territory and what it needs to maintain the momentum.

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	Forwarded this email? Subscribe here for more Bitcoin’s Six-Figure Rally: What’s Next After Breaking $106,000? Explore how Bitcoin’s new all-time high above $106,000 solidifies its position in six-figure territory and what it needs to maintain the momentum. Bitcoin Magazine Pro Dec 16   READ IN APP   Today’s headlines: Bitcoin sets a new all-time high above $106,000 MicroStrategy joins Nasdaq-100 Microsoft shareholders reject Bitcoin investment Trump reaffirms he expects to create a strategic Bitcoin reserve Early Bitcoin investor sentenced to prison for tax evasion What Google’s quantum computing leap means for Bitcoin’s security $BTC has convincingly broken through its $100,000 resistance level, rallying to above $106,000 after we temporarily dipped to close to $94,000 last week, providing over +13% weekly low-to-high returns. This new all-time high once again results in Bitcoin having 100% profitable days for every buyer and holder throughout history. Figure 1: Bitcoin rallied to above $106,000 and is once again at 100% profitable days. View Live Chart 🔍 Bitcoin now needs to ensure our prior resistance is converted into support to keep the price in six-figure and price discovery territory. $BTC has continued to set higher highs and higher lows in this uptrend which does provide confidence that investor demand is still far outpacing available supply from those locking in profits. Figure 2: Bitcoin needs to now flip the former $100,000 resistance into support. The Big Story MicroStrategy Joins Nasdaq-100 Index MicroStrategy ($MSTR), a software company turned Bitcoin powerhouse, has achieved a significant milestone by securing a spot in the Nasdaq-100 Index. As of December 23, MicroStrategy will stand alongside tech giants like Apple, Microsoft, and Tesla. Figure 3: MicroStrategy have accumulated over 423,000 BTC, and counting. View Live Chart 🔍 Under the leadership of Michael Saylor, a long-time Bitcoin advocate, the company began its Bitcoin journey in 2020. Today, MicroStrategy holds over 423,000 bitcoin, over 2% of the circulating supply, valued at over $44 billion. Figure 4: MSTR Bitcoin purchases over the years from saylortracker. Being part of the Nasdaq-100 brings significant advantages. Large investment inflows are expected from Exchange Traded Funds (ETFs) that track the index. For example, the Invesco QQQ Trust, managing $325 billion in assets, must now include MicroStrategy in its portfolio. Key Chart BTC vs DXY Throughout the history of Bitcoin, we’ve seen an inverse correlation between the $BTC price and US Dollar Strength (DXY). As the relative value of USD has increased, we’ve seen Bitcoin struggle to rally substantially higher and often experience price declines. During all of Q4 so far, we’ve seen DXY move significantly higher, and Bitcoin has rallied to new all-time highs. This has outlined the demand for $BTC even in less than favorable macroeconomic conditions for more volatile assets and leaves us wondering how high pthe rice could go when we see a USD strength begin declining once again. The BTC vs DXY chart is available for Bitcoin Magazine Advanced members here. You can subscribe to be a member here. Bitcoin Magazine Pro. Bitcoin Magazine Pro For more detailed Bitcoin analysis and to access advanced features like live charts, personalized indicator alerts, and in-depth industry reports, check out Bitcoin Magazine Pro. Make Smarter Decisions About Bitcoin. Join millions of investors who get clarity about Bitcoin using data analytics you can't get anywhere else. GO TO FREE CHARTS SIGN UP NOW We don't just provide data for data's sake, we provide the metrics and tools that really matter. So you get to supercharge your insights, not your workload. Take the next step in your Bitcoin investing journey: Follow us on X for the latest chart updates and analysis. Subscribe to our YouTube channel for regular video updates and expert insights. Follow our LinkedIn page for comprehensive Bitcoin data, analysis, and insights. Explore Bitcoin Magazine Pro to access powerful tools and analytics that can help you stay ahead of the curve. Invest wisely, stay informed, and let data drive your decisions. Thank you for reading, and here’s to your future success in the Bitcoin market! Subscribed 🎁 Special Offer: Use Code: BMPRO For 10% OFF All Bitcoin Conference Tickets Disclaimer: This newsletter is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions. We sincerely appreciate your support and hope you found this content valuable. Please leave a like and let us know your thoughts in the comments section; we always welcome feedback from our audience! Share Like & Comment Share Bitcoin Magazine Pro   Like Comment Restack   © 2024 BTC Inc. 438 Houston Street, Suite 257, Nashville, TN 37203 Unsubscribe