As of December 31, 2024, Bitcoin (BTC) is trading at approximately $94,035, reflecting a slight decrease of about 0.36% over the past 24 hours.

Throughout 2024, Bitcoin has experienced significant growth, more than doubling in value. This surge is largely attributed to the approval of spot exchange-traded funds (ETFs) by U.S. regulators and optimism surrounding President-elect Donald Trump's administration, which is perceived as crypto-friendly. These developments have attracted substantial institutional investment, propelling Bitcoin to new heights.

Analysts remain optimistic about Bitcoin's trajectory, with some predicting that it could reach $200,000 by late 2025, driven by increased institutional, corporate, and nation-state adoption. However, in the short term, Bitcoin has exhibited volatility, recently peaking at over $100,000 before experiencing a pullback. This fluctuation is typical in the cryptocurrency market, where rapid price changes are common.

Given the current market conditions and inherent volatility, it's crucial to approach short-term trading with caution. Here are some strategies to consider over the next few hours:

1. Monitor Key Support and Resistance Levels: Keep an eye on significant price levels. Analysts suggest that Bitcoin must break above certain resistance levels to retest previous highs, and failure to do so could lead to a bearish trend, pushing support levels to the low $90,000s.

2. Stay Updated with Market News: Market sentiment can shift rapidly based on news events. For instance, recent political developments and regulatory decisions have significantly impacted Bitcoin's price. Staying informed can help anticipate market movements.

3. Utilize Risk Management Techniques: Implement stop-loss orders to mitigate potential losses and consider limiting the size of your positions to manage risk effectively.

4. Avoid Overtrading: In highly volatile markets, it's easy to make impulsive decisions. Stick to your trading plan and avoid making trades based on emotions.

5. Consider the Broader Market Context: Be aware of the overall market environment, including traditional financial markets, as they can influence cryptocurrency prices.

Remember, the cryptocurrency market is highly unpredictable. While short-term trading can be profitable, it also carries significant risk. It's essential to conduct thorough research and consider your risk tolerance before making any trading decisions.