The Bitcoin price has struggled to reclaim previous price highs above $100,000, with bearish sentiment dominating the market. Currently, the Bitcoin price is retesting the support line of an Ascending Channel after crashing below $95,000. A crypto analyst has predicted that if it can hold this key support level, it could stage a recovery and skyrocket to its next bullish target, aligning with the upper resistance line of the channel. Bitcoin Price Retest Support Line; New Target In Sight In a chart illustrating Bitcoin’s price movement within an Ascending Channel, Trader Tardigrade, a crypto analyst on X (formerly Twitter), revealed that the cryptocurrency has temporarily declined below the lower support line on the channel. The analyst labeled this decline a “False Break,” highlighting that the Ascending Channel remains intact despite the drop. Related Reading: Ethereum Total Value Locked Reaches Highest Level Since 2022 After Crossing $90 Billion, Will Price Follow? As indicated by the red circle in the price chart, the False Break suggests that Bitcoin’s brief move below the support level was short-lived and does not confirm the continuation of its previous downtrend. Trader Tardigrade noted that after Bitcoin’s False break, the cryptocurrency quickly moved back into the Ascending Channel to reclaim the lower support line. Interestingly, Bitcoin’s drop below the False break comes as the pioneer cryptocurrency experienced a sharp price crash below $95,000. Lately, the flagship cryptocurrency has been under significantly bearish pressure, recording notable declines as market volatility intensifies. Despite this bearish performance, Trader Tardigrade has disclosed that Bitcoin is now retesting the channel’s support line again, aiming to break above and trigger a price reversal. The analyst predicts that if Bitcoin can hold this support line, it will likely continue moving upwards within the channel. Consequently, the analyst has forecasted that Bitcoin’s next price target would be the upper resistance line of the Ascending Channel. Looking at the price chart, the channel points upwards towards a range between $110,000 and $112,000. If Bitcoin can successfully recover toward the upper resistance line, it could signal the continuation of a bullish trend within the Ascending Channel. Additionally, a breakout above the resistance line could further validate the bullish momentum, setting up a stage for Bitcoin to potentially target higher price levels and possibly retest its all-time high. Related Reading: Here Are The Major Bitcoin Support Levels To Watch As Bulls Push For $100,000 Again Analyst Says Bitcoin Could Crash To $87,000 Bitcoin is currently in a downward trend, experiencing severe price declines despite analysts’ optimistic projections of a price surge. According to crypto analyst Titan of Crypto, the Bitcoin price could see another decline, with the support level at $87,000 being the next target. However, according to the analyst, a drop to this price low could bring “maximum pain” to both short—and long-term investors. Nevertheless, Titan of Crypto believes this severe price decline could also present a strong foundation for Bitcoin’s next price rally. He emphasized that price movements are rarely linear, highlighting the crypto market’s inherent unpredictability and volatility. Despite Bitcoin’s bearish behavior, Titan of Crypto confidently predicts that a price rally to $110,000 is inevitable. Featured image created with Dall.E, chart from Tradingview.com
The altcoin season could be closer than ever, as the Bitcoin Dominance has entered a historically favorable phase for alternative digital assets. According to a crypto analyst, the altcoin season has officially entered the 140-day Golden Window, a period marked by significant growth for altcoins. This phase is driven by a shift in Bitcoin’s dominance […]
The Bitcoin price is still in a correction phase under $100,000, as it is currently down by 1.93% in the past 24 hours. Nonetheless, crypto analyst Titan of Crypto is sure that the leading cryptocurrency is still maintaining its trajectory to the $110,000 mark. According to the analyst, Bitcoin at $110,000 is inevitable, although there remains the possibility of more price declines in the short term. Bitcoin Price $110,000 Path And Current Correction Phase Bitcoin fell short of the $110,000 mark when it peaked at $108,135 on December 17. However, the cryptocurrency has been on a notable correction path since then and is currently about 12% below this price level. Interestingly, the Bitcoin price even corrected to $92,600 on December 23, which translated to a 14.36% decline in five days from the $108,135 all-time high. Related Reading: Analyst Says XRP Price Will Outperform Bitcoin And Ethereum, Reveals ‘Secret Under The Hood’ Although the Bitcoin price has recovered a bit since then, it has extended its correction below the $100,000 psychological threshold without any sign of a strong break to the upside. However, Titan of Crypto reaffirmed his long-term bullish stance on Bitcoin, stating that the $110,000 price level is “inevitable.” According to his analysis, Bitcoin is only undergoing a correction phase, a necessary consolidation before its next upward movement. Although the correction has largely held up above $90,000, there is still a possibility of a break below during this consolidation phase. With this in mind, Titan of Crypto highlighted that if Bitcoin were to experience further declines, the $87,000 mark could represent the “maximum pain.” This is the lowest threshold that the Bitcoin price can go to in order to keep the bullish sentiment alive among Bitcoin holders. Technical Analysis Shows Cup And Handle Pattern In Play The technical analysis is based off of Bitcoin’s price action after breaking out of the neckline of a cup and handle pattern. According to the chart below, this cup and handle pattern played out throughout the 2022 bear market, the 2023 recovery, and the 2024 bull market. Recent bullish price action in October and November saw the Bitcoin price breaking above the neckline, which opened up the stage for a bullish run. In a prior post immediately after the breakout, Titan of Crypto highlighted a price target of around $110,000, although noting the possibility of a correction before reaching the target. This correction has played out exactly as intended with the recent price decline in the past two weeks. Related Reading: Ethereum Total Value Locked Reaches Highest Level Since 2022 After Crossing $90 Billion, Will Price Follow? At the time of writing, Bitcoin is trading at $95,906. Reaching the $110,000 target would translate to a 15% return on investment from the current price. In another analysis posted on social media platform X, the analyst hinted at the possibility of $120,000 being the peak for Bitcoin this cycle based on Fibonacci Circle analysis. This price target dwarfs in comparison to predictions from other analysts, with projections ranging from $250,000 to $1 million. Featured image created with Dall.E, chart from Tradingview.com
The recent rejection at the $100,000 has prompted a wave of warnings from leading financial analysts, who caution that Bitcoin could be poised for a significant pullback toward the $70,000 region or, in some cases, even $60,000. Ali Martinez (@ali_charts), a crypto analyst, compiled the viewpoints of several market veterans on X , offering a multi-perspective take on the likelihood of an impending correction. Bitcoin Price Crash Incoming? One of the voices in this discussion is Tone Vays, a well-known trader who has expressed grave concerns about Bitcoin’s trajectory. Vays conveyed that Bitcoin trading below $95,000 is “very, very bad” as it heightens the likelihood of a correction to around $73,000. In a shared video, Vays elaborated, “We’re now opening the month day trading below $95,000, […] getting too close to the $92,000 range literally opens like Pandora’s box into a massive crash down to $73,000. Now, I’m not saying it’s going to crash $73,000. I’m saying the possibility has significantly increased that we can easily go to $73,000. You are sitting at the last line of support.” Related Reading: Bitcoin Reserve Idea Sparks Cautious Response From Japan PM: Report Peter Brandt, another prominent analyst, added to the growing concern by discussing the formation of a “broadening triangle” in Bitcoin’s price chart. According to Brandt, this pattern could potentially project a retracement toward the $70,000 zone. Although Brandt was careful to clarify that his statements are not definitive predictions, he emphasized the increased possibility of such a movement. “Hey trolls — this is not a prediction. Just always pointing out possibilities, not probabilities, not ‘certainties’. No screen shot is necessary, BTC right angled broadening triangle could project back into the $70,000s and a test of the parabolic modality,” Brandt stated. Contrasting with these bearish viewpoints, Fundstrat maintains a more optimistic long-term perspective, predicting that Bitcoin could reach $250,000 by 2025. However, Fundstrat’s Global Head of Technical Strategy, Mark Newton, acknowledges the potential for short-term volatility, suggesting that Bitcoin might experience a downswing to $60,000 before embarking on its ascent. In a video shared by Martinez, Fundstrat CEO Tom Lee elaborated on this outlook: “Bitcoin, one year from now, I think is something around $250,000. […] it is hyper volatile. People don’t like the volatility. Yeah, Mark Newton, our technician, thinks that the cycle of Bitcoin turns a little bit down early next year, so maybe Bitcoin gets to the $60,000s.” Related Reading: Bitcoin Sentiment Still Close To Extreme Greed: More Cooldown Needed For Bottom? Adding to the chorus of caution, Benjamin Cowen, CEO and Founder of Into The Cryptoverse, posits that Bitcoin’s price action could mirror that of the Nasdaq 100 (QQQ). According to Cowen, this alignment could precipitate a “flash crash” to $60,000, potentially coinciding with Donald Trump’s inauguration day. From an on-chain analysis standpoint, Martinez confirms the bearish possibilities. He notes that if Bitcoin falls below $93,806, the path to $70,085 becomes increasingly plausible, describing the area below as “open air all the way down to $70,085.” Martinez identifies the critical support zone between $97,041 and $93,806, emphasizing that failure to maintain these levels could trigger a sharp decline. He observes that market dynamics indicate some investors are preparing for such a downturn, evidenced by the transfer of over 33,000 BTC (valued at more than $3.23 billion) to exchanges in the past week. Additionally, profit-taking appears to be intensifying, with more than $7.17 billion in Bitcoin profits realized on December 23 alone. The proportion of Binance traders with open long positions on BTC has also decreased from 66.73% to 53.60%, suggesting a shift in market sentiment towards a more bearish stance. Ultimately, Martinez underscores the importance of Bitcoin reclaiming the $97,300 support zone to invalidate the bearish forecasts. “Bitcoin recently broke below one of its most significant support zones at $97,300. So, for the bearish outlook to be invalidated, BTC must reclaim this critical area of support and, more importantly, sustain a daily close above $100,000,” he states. Should Bitcoin manage to sustain a daily close above $100,000, Martinez posits the potential for a significant upswing, possibly reaching $168,500 based on the Mayer Multiple. However, the failure to do so leaves the door open for the predicted corrections to materialize. At press time, BTC traded at $96,905. Featured image created with DALL.E, chart from TradingView.com
Bitwise, a leading digital asset management firm, has lodged a new registration statement with the US Securities and Exchange Commission (SEC), dated December 26, 2024, seeking approval for the “Bitwise Bitcoin Standard ETF.” The filing describes a fund that aims to invest in publicly traded companies that hold significant amounts of BTC on their balance […]
Crypto analyst Trade PSH has revealed the major Bitcoin support levels to watch out for as BTC bulls push for a rally to the psychological $100,000 level. The analyst also mentioned what price levels Bitcoin could reach in the short term as it breaks above $100,000. Bitcoin Support Levels To Watch Out For As Bulls Push For $100,000 In a TradingView post, Trade PSH stated that the local maximum is $99,450 as bulls are repeatedly trying to push the price above $100,000. The crypto analyst also mentioned that the nearest key support zone comes in between $95,000 and $96,600. This aligns with a recent Bitcoinist report that highlighted the $96,000 level as a crucial support zone. Related Reading: Possible Deep Correction Could Push Cardano Price To $0.43, Here’s How While the Bitcoin price is moving above this support zone, Trade PSH stated that the primary scenario is continued growth for the flagship crypto. If Bitcoin maintains an uptrend and eventually breaks above the psychological $100,000 level, the crypto analyst predicts that the intermediate growth target is between $102,000 and $102,757. Based on the current price action, the analyst suggested that Bitcoin could rally to $108,366. This would mark a new all-time high (ATH) for the flagship crypto, as its current ATH is $108,268. Meanwhile, Trade PSH mentioned that a drop below $94,300 would invalidate this trade setup. The analyst’s accompanying chart showed that the Bitcoin price could break above $100,000 and reach these short-term targets before the year ends. While that remains to be seen, it is worth mentioning that January 2025 provides a bullish outlook for the flagship crypto. Pro-crypto Donald Trump is set to take office on January 20, which could lead to the creation of the Strategic Bitcoin Reserve. Historically, Bitcoin also enjoyed a price recovery in January 2021 of the last bull run. As such, history could repeat itself again. BTC Is Heading Higher In an X post, crypto analyst Titan of Crypto also provided a bullish outlook for the Bitcoin price, stating that the flagship crypto is heading higher. His accompanying chart showed that Bitcoin could rally to as high as $158,000 by May 2025. The chart also showed a price target above $220,000, suggesting that the flagship crypto could rally even higher. Related Reading: Ethereum Price Prediction: Inverse Head And Shoulders Pattern Says ETH Will Touch $12,000 Titan of Crypto alluded to a bullish pennant, which he suggested was still in play for the Bitcoin price. This massive bull pennant is forming in the monthly timeframe, and if it plays out, the crypto analyst is confident that Bitcoin will enjoy a parabolic rally to this price target. At the time of writing, the Bitcoin price is trading at around $98,100, down in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Over the last few weeks, the Bitcoin price has been on a downward trend, experiencing significant declines that have pushed it below its all-time high above $104,000. Despite this price crash, a crypto analyst has predicted that Bitcoin could recover from this slump and potentially reach a new ATH at $107,000. However, for the pioneer cryptocurrency to make this recovery, it would have to break past a crucial Fibonacci level. Why The Bitcoin Price Could Rebound To $107,000 Crypto analyst CobraVanguard released a chart analysis on TradingView, illustrating Bitcoin’s price movement and potential recovery to $107,000 in the coming days. The analyst’s price chart showed that Bitcoin was previously in a rising wedge, a technical pattern generally viewed as a bearish signal as it indicates the likelihood of a price decline during an uptrend. Related Reading: Dogecoin Price Roadmap To $0.75 ATH: Why The Next Wave Is Bearish And Could Drop To $0.15 True to the pattern, Bitcoin broke below the rising wedge, turning its price significantly bearish and triggering declines. Following this wedge breakout, Bitcoin plummeted from above $100,000 to $94,000 in just a few days. CobraVanguard has noted that the Fibonacci retracement levels at 0.618 and 0.382 are marked on the chart, possibly indicating potential resistance and support zones for Bitcoin. With the price of Bitcoin crashing after breaking the wedge, it is now consolidating close to the 0.382 Fibonacci level between $92,000 and $94,000. Considering Bitcoin’s current bear trend, the 0.382 Fibonacci level may act as support if its price falls again. On the other hand, CobraVanguard has predicted that if Bitcoin can break above the 0.618 Fibonacci level between $98,000 and $100,000, it could indicate renewed bullish momentum, potentially triggering a price recovery towards a new all-time high of $107,000, marked as the “target” zone on the chart. Based on the trajectory of the arrow in CobraVanguard’s chart analysis, it appears that before Bitcoin can hit $107,000, it may face an even steeper decline to $90,000. The trajectory suggests a rebound towards $94,000, followed by a dip to $92,000. From there, Bitcoin is expected to climb to $100,000, experience another major pullback towards $95,000, and then surge to the analyst’s projected ATH at $107,000. Analyst Predicts More Downside For Bitcoin Prominent crypto analyst Jelle has expressed bearish sentiment on the Bitcoin price outlook towards the end of the year. The analyst compared Bitcoin’s current price movements with those of the previous cycle, highlighting similarities in fractals and bearish trends. Related Reading: Bitcoin Price Flashes Major Buy Signal On The 4-Hour TD Sequential Chart, Where To Enter? Jelle predicts that Bitcoin’s price could drop below $90,000 this week from its current market value of $94,192. The analyst has based this projected price decline on low liquidity, highlighting that festive holidays like Christmas often trigger less liquidity for digital assets, leading to potential downside risks. Nevertheless, the analyst forecasts that after the short-term retracement, Bitcoin could resume its upward momentum in 2025. Based on his chart, he projects that the cryptocurrency could surge as high as $190,000 in Q2 next year. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst TradingShot has provided insights into the Bitcoin price recovery to $150,000. He analyzed the Fibonacci levels to provide insights into how Bitcoin could reach this new high, although the analyst suggested that there could be more price correction before that happens. The Bitcoin Price Recovery To $150,000 In a TradingView post, TradingShot stated […]
A crypto analyst has shared a TD Sequential chart indicating that the Bitcoin price is flashing a major buy signal in the 4-hour time frame. This signal suggests that Bitcoin’s bearish momentum could be waning, making this a potentially critical moment to consider entering the market. Bitcoin Price TD Sequential Flashes Buy Signal A TD Sequential is a unique technical indicator that identifies trend exhaustion and price reversals and indicates buy or sell signals. According to an X (formerly Twitter) post by crypto analyst Ali Martinez, Bitcoin’s 4-hour chart showcases a green “9” candle, signaling a potential buying opportunity. Related Reading: Dogecoin Price Above $10: Historical Data Shows How High DOGE Will Go This Bull Cycle Typically, in a downtrend, the green 9 candle is interpreted as a buy signal, indicating that bearish momentum might be reaching exhaustion and prices could be getting ready for a rebound. Martinez also shows an ”A13” marker on the TD Sequential chart, which represents a countdown phase that tracks 13 additional candles and identifies a stronger trend exhaustion. During a downtrend, the appearance of a TD Sequential A13 often signals a potential decline in a cryptocurrency’s sell-off phase, reinforcing the possibility of a price reversal. Bitcoin’s current buy signal emerged as its price exceeded $94,000. This buy signal suggests an optimal time to enter the market, with the $94,915 price point highlighted as a potential entry for traders aiming to capitalize on a possible Bitcoin price rebound. Although the TD Sequential is an indicator used to identify buy and sell signals, market participants can exercise caution by considering additional factors like volatility, broader market sentiment, and more. If the current buy signal holds, Martinez has predicted that a price rebound can be expected. However, a failure to maintain its current price could lead to further downsides, potentially pushing Bitcoin to its next critical support level. BTC Market Top Set At $168,500 In another more recent X post, Martinez presented a chart of Bitcoin’s price movements, predicting a market top above $168,500 based on the Mayer Multiple. The chart shows Bitcoin price performance based on the Mayer Multiple, which compares BTC to the 200-day Moving Average (MA). Related Reading: Bitcoin Price Above $100,000 Again? Why $99,800 Is An Important Resistance To Break The red line, as seen on the chart, indicates the Mayer MultipLe (MM) at 2.4, while the green line showcases MM at 0.8. Additionally, the blue line is the Oscillator, which tracks the Mayer Multiple over time. Historically, the Bitcoin price tops have coincided with the Mayer Multiple reaching the 2.4 level or higher. Currently, Bitcoin’s Multiple Mayer sits at 1.3845 in the chart. However, if its price continues to rise and the MM reaches 2.4 again, Martinez predicts a market top above $168,500 for Bitcoin. As of writing, Bitcoin’s price is $94,692, meaning a surge to $168,500 would require a significant 78% increase from its present market value. Featured image created with Dall.E, chart from Tradingview.com
In his latest video published on December 21, crypto analyst Rekt Capital tried to answer the question “What’s The Worst Case Scenario For Bitcoin Right Now?”. After reaching a new all-time high at $108,374 on December 17, the BTC price is down more than -11%. How Low Can Bitcoin Price Go? Rekt Capital put the Bitcoin price pullback in a historical perspective, underscoring the historical importance of weeks 6, 7, and 8 in a “price discovery uptrend.” Drawing upon past cycles such as 2013, 2016–2017, and 2021, he explained that Bitcoin has a strong tendency to correct during these specific windows, with some dips reaching as steep as 34% or even higher. “Understanding these weeks is crucial because they tend to be problematic for Bitcoin,” Rekt Capital stated, referencing past cycles where significant downturns occurred within this timeframe. For instance, in week 7 of the 2013 cycle, Bitcoin experienced a dramatic 75% pullback over 13 weeks. Similarly, the 2016-2017 period saw a 34% decline in week 8, underscoring the recurring vulnerability during these specific weeks. Related Reading: Is The Bitcoin Top In For This Cycle? On-Chain Signals You Need To Know As of the current cycle, Bitcoin has undergone a 10%+ retracement, bringing its price into a historically critical support zone at $96,537 on the weekly chart. Rekt Capital emphasized the importance of this support level, noting, “This area of historical support has enabled the move to $108,000.” He cautioned that failure to maintain this support could trigger a more severe correction down to $89,830. Examining the price action of the last few days, Rekt Capital pointed out the emergence of a bearish engulfing candle in the weekly timeframe—a technical indicator often associated with potential reversals. “We’re losing resistances that turned into support,” he observed. This loss signifies a potential transition into a corrective period, as the price struggles to maintain its upward trajectory. Related Reading: Analyst Says Bitcoin Price Peak Lies Above $225,000, The Timeline Will Shock You Rekt Capital also pointed out the importance of maintaining the 5-week technical line in his analysis. “If we lose this 5-week technical uptrend and the orange trend line, it would be mounting evidence that we might be transitioning into a corrective period,” he warned. Furthermore, he addressed the CME gap between the $78,000 and $80,000 price levels, a critical area that has remained unfilled. “Delving into 26%, 27%, 28% dips could fill the entire CME gap,” Rekt Capital noted. Historically, CME gaps have the tendency to get filled whereas there are a few ones which have never been filled. Despite all cautionary signals, Rekt Capital maintains a bullish stance in the long-term “These pullbacks are what enable future uptrends in the parabolic phase of the cycle,” he explained. Drawing from previous cycles, he illustrated how corrections have historically provided the necessary “breather” for the market. In the 2021 cycle, for example, Bitcoin experienced a 16% pullback in week 6 and an 8% dip in week 8, yet the overall trend continued upward. Similarly, the current 10% retracement, while significant, could serve as a preparatory phase for the next leg of price discovery. At press time, BTC traded at $95,000. Featured image created with DALL.E, chart from TradingView.com
As of December 21, 2024, the Bitcoin price is trading at around $98,600, reflecting a 3.4% increase from its previous close. This rise is part of a broader trend marked by substantial price fluctuations in the past seven days, which saw Bitcoin breaking below close support levels. Particularly, Bitcoin’s price movement in the past few days has been filled with declines below the $100,000 price level and liquidations across the entire crypto industry. Analyst Predicts Bitcoin Price Surge Above $225,000 By June 2025 Among the many voices weighing in on Bitcoin’s future trajectory is Adrian Zduńczyk, a renowned cryptocurrency analyst better known as CRYPTO₿IRB. While sharing his insights on X, the analyst noted that Bitcoin’s current bull run is already 80% complete, with the remaining 20% expected to be the most exhilarating phase. According to Zduńczyk, this phase will push the Bitcoin price to unprecedented heights in the first half of 2025. Related Reading: Dogecoin Price And Its Weekly Golden Cross: Why The Crash To $0.31 Remains Natural Speaking of the bull run being 80% complete, the current market cycle arguably began in October 2023, when applications of Spot Bitcoin ETFs triggered euphoria among crypto investors. At that time, Bitcoin was trading around $26,000, but the ensuing rally saw it breaking above multiple price resistance levels in quick succession. This, in turn, led to a break above its then all-time high to cross above $70,000 in March 2024, and then the latest break above the $100,000 psychological threshold in December 2024. As CRYPTO₿IRB predicted, the current bull run has played out to about 80% of its trajectory, with only 20% left to play out. Calculations show that Bitcoin has already increased by about 315% since the bull run started about a year ago. However, the analyst’s projection suggests that the leading cryptocurrency is about to make another 110% increase from its current all-time high in the next six months. Particularly, Zduńczyk has projected that Bitcoin will peak at an astonishing price of over $225,000 by June 2025. Altseason To Follow Bitcoin’s Peak, Bear Market Lurks Beyond 2025 Zduńczyk anticipates that a major altseason, which is characterized by explosive gains across the altcoin market, will occur after Bitcoin reaches its projected peak. However, he cautioned investors to remain vigilant, warning that 2026 will likely usher in a bear market and potentially bring in losses between 80% and 90% from the highs of various cryptocurrencies. Related Reading: XRP Price Crash: Analyst Says Don’t Get Distracted As RSI Is Still Above A Bullish 50% His advice to the crypto community is clear: “Realize gains and run before 2025 ends.” The analyst also hinted at a significant development scheduled for December 27, which he cryptically referred to as a “big release,” though details remain undisclosed at this moment. Although CRYPTO₿IRB’s prediction is bullish, it pales in comparison to projections from other crypto analysts, with some putting Bitcoin’s peak above $1 million in the current market cycle. Featured image created with Dall.E, chart from Tradingview.com
In an interview with Yahoo Finance, US Senator Cynthia Lummis of Wyoming outlined a proposal to grant the Federal Reserve the authority to hold Bitcoin as part of the United States’ official reserves. She argues that this approach could improve the country’s long-term financial stability, strengthen the global role of the US dollar, and provide […]
The Bitcoin price movements in the past 24 hours have sent the entire crypto market into another state of disarray and liquidations. Particularly, Bitcoin has witnessed a price crash of about 5% in the past 24 hours, which has seen it breaking below the $100,000 psychological price threshold again. Although Bitcoin eventually seems to be […]
The Bitcoin price has dropped below the $100,000 psychological level and is now holding between the $96,000 and $98,000 range. Crypto analyst Ali Martinez provided insights into why Bitcoin could be holding well within this range. Why The Bitcoin Price Is Holding Steady Between $96,000 And $98,000 In an X post, Ali Martinez noted that one of the most important support levels for the Bitcoin price is between $98,830 and $95,830, where 1.09 wallets bought over 1.16 million BTC. This explains why Bitcoin is holding steady between $96,000 and $98,000 as investors who bought between this level continue to provide huge support for the flagship crypto. Related Reading: Dogecoin Trading Volume Rises Over $6.5 Billion As Liquidations Cross $31 Million, What’s Going On? As Martinez suggested, it is important for these holders to continue to hold steady as a wave of sell-offs could send the Bitcoin price tumbling even below $90,000. The flagship crypto dropped below $100,000 following the Federal Reserve Jerome Powell’s recent speech, in which he hinted at a hawkish stance from the US Central Bank. This sparked a massive wave of sell-offs, as a Hawkish Fed paints a bearish picture for risk assets like Bitcoin. However, despite the Bitcoin price drop below, most Bitcoin holders remain in profit, which is a positive for the flagship crypto. IntoTheBlock data shows that 86% of Bitcoin holders are in the money, 4% are out of the money, and 9% are at the money. These Bitcoin holders still seem bullish on the leading crypto as they continue to accumulate more BTC. In an X post, Ali Martinez stated that so far in December, 74,052 BTC have been withdrawn from exchanges, and this trend doesn’t seem to be slowing down. Traders Anticipate A Bullish Reversal Ali Martinez suggested that crypto traders anticipate a bullish reversal for the Bitcoin price from its current level. This came as he revealed that traders on Binance nailed the top, with 62.17% shorting Bitcoin while it was trading at $108,000. Now, Martinez stated that sentiment has flipped, with 55.44% of these trading now longing dips below $96,000. Related Reading: This Analyst Predicted The Dogecoin Price Crash 2 Days Ago, Full Prediction Shows A Further 30% Decline Meanwhile, it is crucial for the Bitcoin price to hold this $96,000, as Martinez warned that if BTC loses this support, it could drop below $90,000. The analyst stated that based on the Fibonacci level, if Bitcoin loses $96,000, the next point of focus becomes $90,000 and $85,000. Meanwhile, from a bullish perspective, crypto analyst Justin Bennett suggested that the $110,000 target is still in focus for the Bitcoin price. At the time of writing, the Bitcoin price is trading at around $97,000, down over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin’s price retracement from its new all-time high of $108,353 on Tuesday to around $96,000 (a -11.5% pullback) has ignited intense speculation about whether the current bull cycle is nearing its peak. To address growing uncertainty, Rafael Schultze-Kraft, co-founder of on-chain analytics provider Glassnode, released a thread on X detailing 18 on-chain metrics and models. “Where is the Bitcoin TOP?” Schultze-Kraft asked, before laying out his detailed analysis. Has Bitcoin Reached Its Cycle Top? 1/ MVRV Ratio: A longstanding measure of unrealized profitability, the MVRV ratio compares market value to realized value. Historically, readings above 7 signaled overheated conditions. “Currently hovering around 3 – room to grow,” Schultze-Kraft noted. This suggests that, in terms of aggregate unrealized profit, the market is not yet at levels that have previously coincided with macro tops. 2/ MVRV Pricing Bands: These bands are derived from the number of days MVRV has spent at extreme levels. The top band (3.2) has been exceeded for only about 6% of trading days historically. Today, this top band corresponds to a price of $127,000. Given that Bitcoin sits at around $98,000, the market has not yet reached a zone that historically marked top formations. 3/ Long-Term Holder Profitability (Relative Unrealized Profit & LTH-NUPL): Long-term holders (LTHs) are considered more stable market participants. Their Net Unrealized Profit/Loss (NUPL) metric is currently at 0.75, entering what Schultze-Kraft terms the “euphoria zone.” He remarked that in the 2021 cycle, Bitcoin ran another ~3x after hitting similar levels (though he clarified he is not necessarily expecting a repetition). Historical top formations often saw LTH-NUPL readings above 0.9. Thus, while the metric is elevated, it has not yet reached previous cycle extremes. Notably, Schultze-Kraft admitted his observations may be conservative because the 2021 cycle peaked at somewhat lower profitability values than prior cycles. “I would’ve expected these profitability metrics to reach slightly higher levels,” he explained. This may signal diminishing peaks over successive cycles. Investors should be aware that historical extremes may become less pronounced over time. 4/ Yearly Realized Profit/Loss Ratio: This metric measures the total realized profits relative to realized losses over the past year. Previous cycle tops have seen values above 700%. Currently at around 580%, it still shows “room to grow” before reaching levels historically associated with market tops. Related Reading: Bitcoin Crashes: Here’s Where The Nearest On-Chain Support Is 5/ Market Cap To Thermocap Ratio: An early on-chain metric, it compares Bitcoin’s total market capitalization to the cumulative mining cost (Thermocap). In prior bull runs, the ratio’s extremes aligned with market tops. Schultze-Kraft advises caution with specific target ranges but notes that current levels are not close to previous extremes. The market remains below historical thermocap multiples that indicated overheated conditions in the past. 6/ Thermocap Multiples (32-64x): Historically, Bitcoin has topped at roughly 32-64 times the Thermocap. “We’re at the bottom of this range,” said Schultze-Kraft. Hitting the top band in today’s environment would imply a Bitcoin market cap just above $4 trillion. Given that current market capitalization ($1.924 trillion) is significantly lower, this suggests the possibility of substantial upside if historical patterns were to hold. 7/ The Investor Tool (2-Year SMA x5): The Investor Tool applies a 2-year Simple Moving Average (SMA) of price and a 5x multiple of that SMA to signal potential top zones. “Which currently denotes $230,000,” Schultze-Kraft noted. Since Bitcoin’s current price is well beneath this level, the indicator has not yet flashed an unequivocal top signal. 8/ Bitcoin Price Temperature (BPT6): This model uses deviations from a 4-year moving average to capture cyclical price extremes. Historically, BPT6 was reached in previous bull markets, and that band now sits at $151,000. With Bitcoin at $98,000, the market is still short of levels previously associated with peak overheating. 9/ The True Market Mean & AVIV: The True Market Mean is an alternative cost basis model. Its MVRV-equivalent, known as AVIV, measures how far the market strays from this mean. Historically, tops have seen more than 3 standard deviations. Today’s equivalent “amounts to values above ~2.3,” while the current reading is 1.7. “Room to grow,” Schultze-Kraft said, implying that by this metric, the market is not yet stretched to its historical extremes. Related Reading: US Strategic Bitcoin Reserve Could Push Price To $500,000: Expert 10/ Low/Mid/Top Cap Models (Delta Cap Derivatives): These models, based on the Delta Cap metric, historically showed diminished values during the 2021 cycle, never reaching the ‘Top Cap.’ Schultze-Kraft urges caution in interpreting these due to evolving market structures. Currently, the mid cap level sits at about $4 trillion, roughly a 2x from current levels. If the market followed previous patterns, this would allow for considerable growth before hitting levels characteristic of earlier tops. 11/ Value Days Destroyed Multiple (VDDM): This metric gauges the spending behavior of long-held coins relative to the annual average. Historically, extreme values above 2.9 indicated that older coins were heavily hitting the market, often during late-stage bull markets. Presently, it’s at 2.2, not yet at extreme levels. “Room to grow,” Schultze-Kraft noted, suggesting not all long-term holders have fully capitulated to profit-taking. 12/ The Mayer Multiple: The Mayer Multiple compares price to the 200-day SMA. Overbought conditions in previous cycles aligned with values above 2.4. Currently, a Mayer Multiple above 2.4 would correspond to a price of approximately $167,000. With Bitcoin under $100,000, this threshold remains distant. 13/ The Cycle Extremes Oscillator Chart: This composite uses multiple binary indicators (MVRV, aSOPR, Puell Multiple, Reserve Risk) to signal cycle extremes. “Currently 2/4 are on,” meaning only half of the tracked conditions for an overheated market are met. Previous tops aligned with a full suite of triggered signals. As such, the chart suggests the cycle has not yet reached the intensity of a full-blown peak. 14/ Pi Cycle Top Indicator: A price-based signal that has historically identified cycle peaks by comparing the short-term and long-term moving averages. “Currently the short moving average sits well below the larger ($74k vs. $129k),” Schultze-Kraft said, indicating no crossover and thus no classic top signal. 15/ Sell-Side Risk Ratio (LTH Version): This ratio compares total realized profits and losses to the realized market capitalization. High values correlate with volatile, late-stage bull markets. “The interesting zone is at 0.8% and above, while we’re currently at 0.46% – room to grow,” Schultze-Kraft explained. This implies that, despite recent profit-taking, the market has not yet entered the intense sell pressure zone often seen near tops. 16/ LTH Inflation Rate: Schultze-Kraft highlighted the Long-Term Holder Inflation Rate as “the most bearish chart I’ve come across so far.” While he did not provide specific target values or thresholds in this excerpt, he stated it “screams caution.” Investors should monitor this closely as it may signal increasing distribution from long-term holders or other structural headwinds. 17/ STH-SOPR (Short-Term Holder Spent Output Profit Ratio): This metric measures the profit-taking behavior of short-term holders. “Currently elevated, but not sustained,” Schultze-Kraft noted. In other words, while short-term participants are taking profits, the data does not yet show the kind of persistent, aggressive profit-taking typical of a market top. 18/ SLRV Ribbons: These ribbons track trends in short- and long-term realized value. Historically, when both moving averages top out and cross over, it indicates a market turning point. “Both moving averages still trending up, only becomes bearish at rounded tops and crossover. No indication of a top at this time,” Schultze-Kraft stated. Overall, Schultze-Kraft emphasized that these metrics should not be used in isolation. “Never rely on single data points – confluence is your friend,” he advised. He acknowledged that this is a non-comprehensive list and that Bitcoin’s evolving ecosystem—now with ETFs, regulatory clarity, institutional adoption, and geopolitical factors—may render historical comparisons less reliable. “This cycle can look vastly different, yet (historical) data is all we have,” he concluded. While numerous metrics show that Bitcoin’s market is moving into more euphoric and profitable territory, few have reached the historical extremes that marked previous cycle tops. Indicators like MVRV, profitability ratios, thermal metrics, and various price-based models generally suggest “room to grow,” although at least one—LTH Inflation Rate—raises a note of caution. Some composites are only partially triggered, while classic top signals such as Pi Cycle Top remain inactive. At press time, BTC traded at $96,037. Featured image created with DALL.E, chart from TradingView.com
In a direct address to the public, Ilya Lichtenstein, who pleaded guilty last year to charges connected to the 2016 theft of approximately 120,000 Bitcoin from the crypto exchange Bitfinex, issued a new statement on Thursday refuting alleged third-party involvement in the hack. His five-minute video, posted to X, represents Lichtenstein’s first publicly available statement […]
Germany’s Free Democratic Party (FDP) is intensifying its focus on Bitcoin and crypto policy during the run-up to the country’s parliamentary elections, scheduled for February. The party’s newly released election manifesto, published on December 18, signals a notable pivot towards integrating digital assets such as Bitcoin into the existing financial framework. Notably, the FDP mentions […]
The Bitcoin price action in the past 24 hours saw it breaking below the $100,000 price mark again very briefly before breaking above it again. Particularly, Bitcoin’s price action in the past 24 hours has been between $98,839.87 and $105,306, highlighting the potential corrections that could occur as the cryptocurrency continues to edge upwards. This fluctuation comes amid a broader bull market cycle that analysts like CryptoCon suggest is far from over. Bitcoin Crash Below $100,000 Not The End Crypto analyst CryptoCon has been a consistent voice in tracking Bitcoin’s movements using Fibonacci extensions during the current market cycle. Back in August, when Bitcoin was hovering around $60,000, CryptoCon projected a surge to $109,236 by December. This prediction was based on the 0.618 Fibonacci extension and eventually played out with remarkable accuracy. Related Reading: Cardano Price Eyes Recovery Toward $2 As Million-Dollar Whale Transactions Explode On The Network Since first breaking above the $100,000 mark on December 5, this price point has proven to be a psychological barrier and there have been multiple retests since then. Despite this back and forth, Bitcoin enthusiasts remain strongly optimistic, and the Crypto Feat And Greed Index remains in Extreme Greed. As such, the correction in the past 24 hours is viewed by CryptoCon as a minor event in a larger narrative. According to the analyst, Bitcoin’s rise to $109,000 marked just one step in its ongoing journey. The analyst emphasized that corrections, while inevitable, are becoming less significant in the context of the increasingly well-established bull market. “Corrections are an afterthought. That doesn’t mean they won’t come, it just means they’re not important,” CryptoCon said regarding corrections. The Next Target: $166,000 By February 2025 Looking ahead, CryptoCon has turned attention toward the 5.618 Fibonacci extension as the next key milestone in Bitcoin’s ongoing bull market. This projection aligns closely with a price target of approximately $162,000. According to the analyst, this ambitious target could materialize as soon as February 2025, given Bitcoin’s current rate of price growth. Related Reading: Analyst Who Correctly Predicted The Fantom Breakout Above $1 Reveals What’s Next In The Parabolic Trend At present, Bitcoin is trading at $101,600. For the cryptocurrency to reach the $162,000 level, it would need to register another 60% increase from its current price point. CryptoCon does not see the February 2025 target as the conclusion of Bitcoin’s bull run. In fact, the prediction is accompanied by a detailed multi-year chart outlining Bitcoin’s consistent upward trajectory since November 2023. This chart highlights a pattern of steady 52% gains before encountering resistance at Fibonacci extension levels. The path to $162,000 is viewed as one of some price targets before notable corrections. Interestingly, the analysis also hints at an even loftier price target tied to the 6.618 Fibonacci extension level. If Bitcoin were to reach this extreme milestone, it would translate to a price of around $254,100. For now, Bitcoin appears ready for a steady continued growth above $100,000, with corrections in between. Featured image created with Dall.E, chart from Tradingview.com
In an exclusive interview with Yahoo Finance, Matt Hougan, Chief Investment Officer at Bitwise Asset Management, shared his bullish outlook on Bitcoin, projecting significant price appreciation by the end of 2025. “We expect Bitcoin to be up above $200,000 by this time next year,” Hougan stated, attributing this forecast to three primary sources of demand: exchange-traded funds (ETFs), corporate investments, and governmental acquisitions. Hougan elaborated, “There are ETFs that are vacuuming up Bitcoin, public companies like MicroStrategy are accumulating Bitcoin, and now we’re seeing discussions about governments investing in Bitcoin. It ultimately boils down to supply and demand—there’s too much demand and not enough supply, which drives the price higher.” When probed about the sustainability of such demand, Hougan emphasized the gradual awakening of different investor segments to Bitcoin’s value proposition. “People just wake up to Bitcoin at different paces. We’ve seen retail investors engage first, followed by companies and financial advisors, and now institutions are recognizing that Bitcoin belongs in a diversified portfolio,” he explained. Related Reading: Bitcoin Top Here? What Historical HODLer Selloff Pattern Says “Bitcoin is now a global macro asset worth a few trillion dollars, and virtually every investor should have some exposure. We still have a large number of investors to go, which is why I believe we’re still early in this journey. We have many quarters to go,” he added. How High Can Price Go If The US Buys Bitcoin? A pivotal aspect of Hougan’s forecast hinges on the potential establishment of a US Strategic Bitcoin Reserve (SBR). Addressing this, Hougan remarked, “If we do get a Bitcoin strategic reserve where the government is buying Bitcoin, as proposed in Senator Lummis’ bill for the government to purchase a million Bitcoin, $200,000 Bitcoin is going to be looking quaint. You’re going to be looking at three four $500,000 Bitcoin. It’s just too big a story because governments all around the world would have to do it.” Hougan admitted that he was first skeptical about Trump suggestions to establish a SBR. “But over the months, it hasn’t gone away in fact we continue to see leaders in the Trump Administration suggest that they’re open to it,” Hougan remarked. The Bitcoin CIO still thinks that the odds of the US government buying Bitcoin is less than 50%, but “it’s not zero,” he added. “If it happens or if we start to see it happening in other countries, you’re going to see a rip up in Bitcoin that will make 2024 look pretty docel in comparison.” Related Reading: Bitcoin Miners Now In Selling Mode For A Year: Should You Be Concerned? Hougan also highlighted the role of institutional platforms, specifically citing Coinbase as a potential major beneficiary in the evolving crypto landscape. “Coinbase is currently about half the size of Charles Schwab, and we believe it could surpass Schwab in brokerage size,” he noted. “Coinbase hasn’t had major competitors bubbling up to challenge it; it’s sort of had a degree of regulatory capture, if you can believe it. As a result, it’s been able to sustain its high margins in brokerages and then layer on things like stablecoins. [..,.] It’ll also help if it gets into the S&P 500; you see institutions buying it broadly. I think it’s a really unique situation driven by the fact that there was so much regulatory uncertainty—it cleared the competitive fat path and now it’s going to reap those rewards and build a really, you know, maybe an unsalable position leading this industry in the US.” Looking ahead to the broader market, Hougan anticipated an influx of crypto-related companies entering public markets. “We can expect firms like Kraken, Anchorage, and Chainalysis to go public, further normalizing the industry,” he stated. “This influx will lead to increased Wall Street coverage and institutional investment, setting the stage for a robust IPO window in 2025.” Despite the optimistic outlook, Hougan acknowledged potential risks that could impede Bitcoin’s growth. “The biggest risk is that politicians don’t deliver on their promises—if we don’t achieve regulatory clarity or fail to establish a strategic reserve, the expected bull market might not materialize,” he cautioned. “Regulatory and political factors are crucial drivers for crypto in 2025, and any setbacks in these areas could pose significant challenges.” At press time, Bitcoin traded at $104,212. Featured image created with DALL.E, chart from TradingView.com
Crypto analyst Charting Guy has provided a major update on the Bitcoin price action as BTC hit a new all-time high (ATH) at $108,000. The analyst drew similarities between the current price and that of 2023 while revealing what could happen next for the flagship crypto. What Next As Bitcoin Price Mirrors 2023 Move In an X post, Charting Guy revealed that the Bitcoin price is still following 2023. The analyst predicted that the flagship crypto could hit the $110,000 to $120,000 area on this leg up, with this surge expected to happen later this week or early next week. Bitcoin looks to already be on its way to this price target, having recently hit a new ATH at $108,000. Related Reading: Analyst Who Correctly Predicted The Fantom Breakout Above $1 Reveals What’s Next In The Parabolic Trend Charting Guy also predicted that the Bitcoin price would tap the resistance on the daily Relative Strength Index (RSI), forming a triple bearish divergence, marking a slight local top for the flagship crypto. Once that happens, the analyst believes that Bitcoin will consolidate between $105 and $115,000 for a few weeks. The Bitcoin price could then record a fakeout move up to the $125,000 to $130,000 range into Donald Trump’s inauguration with a quick dump afterwards. Charting Guy predicts that this dump could maybe lead to a final retest of the $100,000 psychological level. Once that is done, Bitcoin could then begin the final leg up, starting from mid-February to the 1.618 Fibonacci level at around $170,000. The analyst opined that this could mark the final cycle top. What Happens As BTC Consolidates As the Bitcoin price consolidates from around Christmas to Donald Trump’s inauguration, Charting Guy believes that altcoins will go “absolutely insane.” The analyst also predicts that these altcoins will witness another parabolic rally roughly one month after Bitcoin tops in late March. Related Reading: Ethereum Price Crash Incoming? Tron’s Justin Sun Unstakes $209 Million ETH From Lido Finance These altcoins are expected to rally higher while the Bitcoin price makes lower highs. Charting Guy noted that different altcoins could top at different times. Some could happen at the start of next year, some during the Inauguration, and others when BTC tops in March or possibly extend to April. The analyst is confident that all these altcoins will get a major top in the first quarter of next year, with an extension to April possible for some coins. Charting Guy stated that the exact top for these altcoins will depend on each altcoin and its chart structure, wave count, Fibonacci levels, and other technical indicators. Specifically, the analyst highlighted LINK and XRP, stating that both coins could have their wave 3 topping in early Q1, with a wave 4 correction into the summer and a fifth wave higher high into August and September. The analyst added that the fifth wave isn’t really guaranteed and is speculative. Featured image created with Dall.E, chart from Tradingview.com
Ohio State Representative Derek Merrin (R-Monclova Township) introduced new legislation on December 17, 2024, aimed at authorizing the state treasury to invest in Bitcoin as part of its asset portfolio. Known as House Bill 703, the “Ohio Bitcoin Reserve Act” seeks to establish a dedicated BTC fund within the state treasury, providing the State Treasurer […]
French Member of the European Parliament (MEP) Sarah Knafo delivered a high-profile address, urging the European Union (EU) to adopt a “Strategic Bitcoin Reserve” as part of a broader effort to promote financial autonomy and combat inflationary pressures. A French magistrate and member of the Cour des Comptes, Knafo’s background includes public service and political […]
Crypto analyst Tony Severino has drawn a similarity between the current Bitcoin price action and that of the 2017 bull run. Based on these similarities, the analyst raised the possibility of the flagship crypto witnessing an 80% surge from its current level. Bitcoin Price Eyes 80% Surge If History Repeats Itself In an X post, Tony Severino suggested that the Bitcoin price could rally to $190,000 if history repeats itself. This came as the analyst drew a comparison between the 2024 and 2017 Bitcoin Elliott Wave count, which indicated that Bitcoin could replicate the price movement from the 2017 bull run. Related Reading: Time To Sell XRP? Price Completes Head And Shoulder Pattern, Suggesting Crash To $2.2 Is Imminent The analyst’s accompanying chart showed that the Bitcoin price could reach $190,000 on the fifth wave, with this price target marking the peak for the flagship crypto in this cycle. This rally to $190,000 would be similar to how Bitcoin rose from $7,550 in the 2017 bull run to its market peak of $19,000. As to how this Bitcoin price rally to $190,000 will happen, the chart showed that Bitcoin could first retrace to around $104,000, then rally to around $123,000, followed by another price correction to $96,000. Once this price correction is done, Bitcoin will begin a new Elliott Wave count, which could eventually send its price to $190,000 on the Wave 5 impulsive move. In the meantime, the Bitcoin price is completing the Wave count, which began around late October, just before Donald Trump won the US presidential elections. Since then, Bitcoin has enjoyed bullish momentum and continued to reach new highs. The flagship crypto recently surged past $107,000 as optimism grows that Donald Trump’s administration will create the Strategic Bitcoin Reserve. BTC Could Reach $125,000 Before The Year Ends Crypto analyst Justin Bennett predicted that the Bitcoin price could reach $125,000 before the year ends. This came as the analyst stated that Bitcoin is going “full Santa Claus” mode and isn’t showing signs of slowing down. Bennett remarked that pullbacks might be hard to come by through the end of the year. The crypto analyst added that any potential pullback is unlikely, especially given the speculation that Bitcoin will become a US reserve asset under Donald Trump. In line with this, Bennett said he won’t be surprised if the Bitcoin price hits $116,000 or even $125,000 by the end of December. Crypto analyst Titan of Crypto stated that the Bitcoin price continues to ascend to the moon. The analyst predicted that the flagship crypto could rise to as high as $158,000, although his accompanying chart suggested that would happen next year. At the time of writing, the Bitcoin price is trading at around $106,559, up in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin could soar to $180,000 in 2025 if key cycle top indicators remain muted, according to Matthew Sigel, Head of Digital Assets Research at VanEck. Speaking with podcast host Natalie Brunell, Sigel outlined a clear four-year pattern in Bitcoin’s price action that he believes has persisted through multiple market cycles. Why $180,000 Per Bitcoin Seems Plausible Sigel explained that Bitcoin tends to outperform nearly every other asset class for three years out of each four-year halving cycle, followed by a deep correction in the fourth year. Referencing a drawdown typically ranging from 60% to 80%, Sigel said this decline often arrives roughly two years after the BTC halving event. Since Bitcoin’s most recent halving took place in April 2024, Sigel sees 2024 and 2025 as potentially strong years. “That down year typically is the second year after the halving,” Sigel explained. “The Bitcoin halving occurred in April of this year. So 2024 [will be a] strong year, 2025 should be a strong year. I think 2026, unless something changes, would be a down year.” Related Reading: Can Bitcoin Hit $160,000 In 2025? Matrixport Thinks So Drawing on historical data, he recalled the smallest trough-to-peak appreciation in Bitcoin’s previous cycles, which was approximately 2,000%. Even if that figure halves to 1,000%, Sigel pointed out that Bitcoin could rise from a trough of around $18,000 to as high as $180,000 in the current cycle. “So I see an upside to $180,000 this cycle, and I think that’s likely to happen next year,” Sigel added. He also emphasized that Bitcoin’s volatility means the price could overshoot or undershoot that number, but that $180,000 represents a plausible target for 2024 if the pattern holds and no major “red light” indicators appear. Sigel broke down what he sees as the most important topping signals for traders to watch. The first involves derivatives funding rates: if the annualized cost to hold bullish Bitcoin positions on leveraged markets pushes above 10% for longer than a couple of months, Sigel considers that a red flag. “Some of those indicators include the funding rates. When the funding rate for Bitcoin exceeds 10% for more than a couple months, that tends to be a red light,” Sigel warned and explained that recent market activity reset elevated funding rates: “[Last week’s] washout eliminated that as well. So funding rates [are] not really flashing red.” The second is the level of unrealized profits on the blockchain, where on-chain analysis can reveal whether market participants’ cost basis is so low that significant profit-taking might soon create selling pressure. “We’re not seeing scary amounts of unrealized profits [yet],” Sigel noted. Finally, he said anecdotal evidence of widespread retail leverage or speculation could also flash warning lights. He explained that if all these risk indicators were to align at a certain price point—for example, if Bitcoin hit $150,000 and these metrics pointed to a market top—he would be cautious. However, he said that if the price reached around $180,000 without those signals appearing, there might still be room for further appreciation. Related Reading: National Bitcoin Reserve Initiative: MP Satoshi Hamada Urges Japan To Take Action “If we reach $180K and none of those lights are flashing, maybe we let it run. If all those lights are flashing and the price is $150K, I’m not gonna wait,” Sigel added. Next BTC Cycle Predictions He also explored the longer-term growth potential for Bitcoin by comparing it to gold’s market capitalization. Because about half of gold’s supply is used for industrial and jewelry purposes, he reasoned that the other half can be compared more directly to Bitcoin’s function as an investment and store of value. If Bitcoin were to reach a valuation comparable to that half portion of gold’s market cap, Sigel believes the price could trend toward roughly $450,000 per coin over the course of the next cycle. Taking an even more forward-looking perspective, he described VanEck’s long-term model in which global central banks might eventually hold Bitcoin as part of their reserves, even if just at a 2% weighting. Since gold constitutes about 18% of central bank reserves worldwide, Sigel’s assumption is that Bitcoin’s share would be far smaller by comparison. He also factored in the prospect that Bitcoin might one day serve as a settlement currency for global trade, potentially among emerging economic alliances such as the BRICS nations (Brazil, Russia, India, China, and South Africa), which could push its valuation significantly higher. In VanEck’s calculations, this scenario might place Bitcoin at $3 million per coin by 2050: “We also assume that Bitcoin is used as a settlement currency for global trade, most likely among BRICS countries. We get to three million dollars a coin by 2050, which would be about a 16% compound annual growth rate.” At press time, BTC traded at $107,219. Featured image from YouTube / Natalie Brunell, chart from TradingView.com
In an address to the Bundestag on December 16, Christian Lindner (Free Democratic Party – FDP), the former Finance Minister of Germany, delivered a scathing critique of the current government’s stance on Bitcoin and broader crypto regulation. Lindner, who served under Chancellor Olaf Scholz in the outgoing administration, called for urgent policy reforms to position […]
The Bitcoin price has continued its foray above the $100,000 threshold and is currently trading around new all-time highs. Following its recent surge to an all-time high (ATH) above $106,000, the Bitcoin price has played out an interesting pattern on the 1-day candlestick timeframe, which points to an extremely bullish outlook for the leading cryptocurrency. Notably, Master Kenobi, a popular crypto analyst on X, revealed an extremely bullish 88-day pattern on the Bitcoin price chart, drawing parallels to a similar pattern from late 2023. 88-Day Pattern Resembles Historical Symmetry On Bitcoin Price Chart Master Kenobi’s analysis begins with the identification of an 88-day structure that bears a striking resemblance to Bitcoin’s price movements in Q4 2023, just before the current bull market phase began. Taking to social media platform X, the analyst noted that the initial 37 days of the current pattern since November 2024 mimic a similar hidden distribution phase observed last year. Furthermore, both the price action and the daily Relative Strength Index (RSI) indicator align closely with the previous cycle. Related Reading: Dogecoin Fails To Follow Bitcoin’s Recent Uptick: Is A New ATH Still Feasible This Cycle? To visualize this, he connected critical points A1 to A2 and B1 to B2 on the relative strength index, which highlighted the symmetrical nature of the formations. According to Master Kenobi, the symmetry between these sequences suggests that Bitcoin’s ongoing trajectory could mirror its past, particularly in the next 51 days. While the analyst emphasizes that this observation is not a precise prediction, he believes it offers a framework for understanding Bitcoin’s behavior based on past behavior and the current structure. Projection Points To $124,300 By Early 2025 Bitcoin and other cryptocurrencies have been known to repeat their previous price performance from time to time. By analyzing historical price playouts and current patterns, analysts and traders are provided with a context of what to expect. Expanding on his analysis, Master Kenobi ventured into speculative territory by sketching a predicted price path for Bitcoin. Related Reading: XRP Price In Motion: Analyst Reveals The Next Major Supports And Resistances The analyst speculated that the next 51-day sequence could follow a similar trajectory to the past 51 days in late 2023, culminating in a price of $124,300 by January 31, 2025. At the time of writing, Bitcoin is trading at $105,000, having recently reached an intraday high and all-time high of $106,352 in the past 24 hours, according to CoinGecko. The leading cryptocurrency is already up 12% this month, and reaching the projected price target of $124,300 would translate to a further 18% increase. Whether Bitcoin repeats its price pattern in late 2023 remains to be seen, but current price action and crypto market sentiment suggest that the Bitcoin price has a lot of room to run in 2025. Featured image created with Dall.E, chart from Tradingview.com
According to Tony Severino, a crypto analyst on X (formerly Twitter), the Bitcoin price could surge significantly to $120,000 by next week. The analyst has grounded his bullish projection on Bitcoin’s daily Bollinger Bands (BB), highlighting that these indicators are expanding while BTC displays a similar price action observed in 2023. BTC Price Targets $120,000 ATH On December 12, Severino shared a chart demonstrating a technical analysis of Bitcoin using the Bollinger Bands and a historical correlation of late 2023 price behavior. The analyst predicted that if history repeats itself, the Bitcoin price could reach a $120,000 all-time high by next week. Related Reading: Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green Severino disclosed that Bitcoin’s daily Bollinger Bands are expanding, while its current price action reflects a similar bullish trend observed in 2023. Looking at the analyst’s 2024 price chart, Bitcoin’s upper and lower Bollinger Bands are represented by a respective red and green trend line. Typically, an expanding Bollinger Band indicates increasing price volatility. Bitcoin could start a bullish trend if it breaks above the upper band or enter a bearish phase if it drops below the lower band. Bitcoin has also tested the lower Bollinger Band at $92,560 and is now steadily approaching the upper band at $102,323. Additionally, the analyst has placed Bitcoin’s Bollinger Band basis at $97,442. Severino observed that the Bitcoin price chart on the right shows a historical instance in late 2023 when BTC broke above the upper Bollinger band and followed with a substantial price rally as it walked the bands higher. This historical trend is currently being replicated in Bitcoin’s 2024 price setup, indicating a potential for a significant upward price movement if similar conditions seen in 2023 are met. If Bitcoin’s price closes above the upper Bollinger Band with a buy signal, it could spark a rally toward $120,000. Currently trading at $100,219, Bitcoin would need to increase by 20% to reach the analyst’s projected target by next week. Analyst Confirms Bitcoin Bollinger Band Bullish Signal Also commenting on Bitcoin’s recent price action, Trader Tardigrade, an analyst on X, revealed that BTC’s Bollinger Bands and Bollinger Band Width (BBW) are signaling the potential for a strong uptrend continuation. Sharing a price chart, the analyst noted that Bitcoin previously dipped to the middle of the band but quickly recovered, underscoring the supportive nature of the mid-band. Related Reading: Dogecoin Price On Its Way To $1: Why A Retest Of $0.48 Is More Important Than Anything Trader Tardigrade has revealed that Bitcoin’s BBW has hit a lower contraction, while its recent price movements resemble those of early November, just before its price skyrocketed from $70,000 to $100,000. If Bitcoin’s price maintains its current bullish trend, the analyst predicts a surge that could drive the cryptocurrency to a new all-time high at $136,000. This substantial price increase would represent a massive 36% rally from Bitcoin’s current price. Featured image created with Dall.E, chart from Tradingview.com
Dan Morehead, founder and managing partner of Pantera Capital Management, has reiterated his bullish stance on Bitcoin, predicting that the pioneering cryptocurrency could eventually command a $15 trillion market cap. Morehead’s comments came during a recent interview on CNBC’s “Squawk Box,” where he also highlighted Pantera’s original Bitcoin fund surpassing a 1,000x return since its […]
Singapore-based crypto service provider Matrixport predicts that Bitcoin may reach as high as $160,000 by 2025. In a newly released report, titled Matrix on Target (Issue #2024-112), the firm outlines a scenario in which increased institutional adoption, macroeconomic evolution, and broadening global liquidity could push the leading cryptocurrency to unprecedented levels. Why Bitcoin Will Reach $160,000 In 2025 Matrixport’s research team notes that Bitcoin’s performance in 2024 exceeded multiple key price projections and validated their previous analytical frameworks. According to the report, this strength has been propelled by institutional investors who embraced the Bitcoin ETF market. These investors have “realized substantial gains, incentivizing further allocation as we move into 2025,” states Matrixport. The report highlights Bitcoin’s emergence as a portfolio component, underscoring that “our analysis recommends a 1.55% allocation to achieve optimal diversification while maintaining portfolio stability.” This approach reflects Bitcoin’s gradual integration into traditional investment strategies, as well as its evolving status as a macro-relevant asset. Related Reading: Bitcoin To $250,000, Ethereum To $12,000: Here’s When, Says VC CIO Looking ahead, Matrixport’s analysis emphasizes the approaching “8% adoption threshold” that could signal a turning point for Bitcoin. Drawing parallels to other technologies that experienced exponential growth once this threshold was crossed. “Historically, technologies that cross this mark, such as smartphones and social media, experience exponential growth driven by network effects and broader accessibility. As Bitcoin gains mainstream acceptance, it is poised to transition from a niche asset to a core component of global financial markets,” the firm forecasts. Matrixport also details a shift in market dynamics. Historically, Bitcoin’s cycles were defined by steep 80% retracements, but this pattern may be diminishing. The firm reports “a growing base of dip buyers and institutional support,” which it says reduces the probability of severe corrective phases. While temporary consolidations remain a part of market structure, Matrixport anticipates these to be “less pronounced, reflecting Bitcoin’s maturation as an asset class.” Regarding specific price forecasts, Matrixport outlines a “+60% upside” as the market progresses into 2025, culminating in a $160,000 price target for Bitcoin. The report attributes this target to “sustained demand for Bitcoin ETFs,” supportive macroeconomic conditions, and an expansion in global liquidity. Related Reading: Australia’s Biggest Pension Fund Makes Historic $17M Bitcoin Investment, A National First Matrixport’s proprietary Greed & Fear Index—a barometer for market sentiment—indicates stable conditions. The report claims that “the current consolidation phase may be shorter than previous ones,” with stabilized funding rates and normalized market conditions. In turn, the analysts see “the stage … set for renewed upward momentum.” Matrixport also calls attention to Bitcoin’s recent resilience, noting that “the swift recovery from recent overheated conditions” supports the notion that BTC price is well-positioned for another growth cycle. The overarching view remains optimistic. Matrixport concludes that “the outlook for 2025 remains bullish,” with Bitcoin’s track record as “an inflation hedge, and its integration into institutional portfolios suggest a transformative year ahead.” The firm concludes: “As adoption accelerates and the market matures, Bitcoin is positioned to achieve new all-time highs, further solidifying its role as a cornerstone of the global financial landscape.” At press time, BTC traded at $100,371. Featured image created with DALL.E, chart from TradingView.com
Crypto analyst Master Kenobi has provided extensive analysis, which discusses the Bitcoin price dominance and altcoin season. In his analysis, Master Kenobi also revealed what this sudden volatility means for the market. Where The Bitcoin Price Dominance Is Headed In an X post, Master Kenobi stated that the Bitcoin price dominance was meant to have begun its decline yesterday. However, the drop started 20 days earlier than anticipated. The crypto analyst added that. Having recorded three consecutive red weeks, Bitcoin’s dominance has entered a phase of volatility that could last for some time. Related Reading: XRP Price Flashes Falling Wedge Pattern, Why $2.8 Is A Possible Target From Here The analyst’s accompanying chart showed that the Bitcoin price dominance experienced this volatility phase for 136 days. If history were to repeat itself, this volatility won’t end until April 6 next year. Master Kenobi opined that the market is currently in the first and likely the most critical stage of capital rotation from Bitcoin profits. Once the market moves past this period of capital rotation, Master Kenobi predicts that a massive drop in dominance will follow, which, on the other hand, can be interpreted as the start of the altcoin season. Master Kenobi stated that even if the bull market extends beyond April 6, this period will likely be the most prolific for most altcoins. Master Kenobi noted that the bottom in the Bitcoin price dominance on May 14, 2021, coincided with the first peak of the crypto market during the 2021 bull run. The analyst expects a similar pattern to unfold this time around. Meanwhile, the analyst indicated that the bottom in the dominance could happen at the beginning of March instead of April 6. From The Bitcoin Halving Perspective Master Kenobi also used the Bitcoin halving date as a reference point to prove that the Bitcoin price dominance could move along with these timelines. He noted that in the previous cycle, there was a short interval (four days) between the one-year anniversary of the Bitcoin halving on May 11 and the first major bottom in dominance on May 15. Related Reading: Dogecoin Price On Its Way To $1: Why A Retest Of $0.48 Is More Important Than Anything In line with this, the analyst remarked that the timeline for the bottom in the Bitcoin price dominance (which would also mark the peak for the crypto market) can extend beyond April 20 to April 23, 2025. Master Kenobi cautioned that the exact date for the market peak cannot be pinpointed at this moment. However, as time passes, he believes that there is a likelihood that he will be able to pinpoint with greater accuracy the date when the first phase of the bull market will end. At the time of writing, the Bitcoin price is trading at $100,300, down in the last 24 hours, while its dominance is at 55.13%, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com