Bitcoin saw an 8% daily gain on Wednesday, sparking hope of a local bottom. Analysts predict a stabilisation phase and relief bounce. Bitcoin is currently trading at $91,440, up from its recent low of $82,000 on Nov. 21. The market is now operating on a “leaner leverage base” to prevent sudden drawdowns.

Despite a recent 11.72% drop in the past 30 days, Bitcoin rebounded to nearly $94,000 on Wednesday. A $19 billion loss on Oct. 10 led to a broader sell-off, but the market is now showing signs of stability. The late-year price pullback has disrupted the traditional four-year cycle narrative for Bitcoin.

Bitcoin’s price action is defying historical trends, with November seeing a 17.67% drop despite being historically strong. Some analysts believe the recent rebound could continue into next year. Notable figures like PlanC and Quinten Francois express confidence in Bitcoin’s trajectory, with Tom Lee predicting a $100,000 price reclaim by year-end.

Read more at Cointelegraph: Bitcoin ‘Relief Bounce’ In Sight: Analysts