Bitcoin reached a new annual high of $44,700 a few days ago, with a weekly yield of 9.58%. This increase in the price of bitcoin was due to the simultaneous strengthening of the US dollar and the growth of stock indices. As a result, bitcoin has closed eight consecutive weeks in the green zone.

The dollar index reached 104.05 points due to positive statistics and an increase in government bond yields. This indicates that markets are postponing expectations for monetary easing by the Federal Reserve in March 2024.

Bitcoin's growth was also supported by favorable economic statistics, including average monthly wages, unemployment rate and the number of new jobs in the United States. These data have increased the interest of the Federal Reserve System in a possible increase in interest rates.

The next important point in the development of events is the presentation of the general and basic consumer price indices (CPI) for November on December 12, which will influence the decisions of the Federal Reserve System. In addition, institutional players such as Fidelity and BlackRock are actively working with the SEC to launch exchange-traded funds (ETFs) for bitcoin, which indicates the growing interest in cryptocurrencies from traditional financial institutions.

Consequently, high volatility in the bitcoin market is expected this week. Approaching the $45,000 mark and waiting for the SEC's decision on the bitcoin ETF, as well as the meeting of the Federal Reserve System and the publication of inflation data, can cause significant fluctuations in the price of bitcoin. Support levels are at $41-42,000 and resistance levels are at $48,000. Given the planned publication of the SEC's decision in early January 2024, it is expected that growth in the cryptocurrency market will continue.