The Vancouver City Council approved a motion to explore integrating Bitcoin into its financial operations. The measure, introduced by Mayor Ken Sim and passed at the December 11, 2024 Standing Committee meeting, directs staff to investigate accepting BTC for city taxes and fees and the feasibility of incorporating it into the city’s financial reserves. The […]
In a price prediction shared on X, Tom Dunleavy, Chief Investment Officer (CIO) at MV Global—formerly known as Master Ventures—outlined his bullish projections for major cryptocurrencies in 2025. MV Global is a blockchain-focused venture studio renowned for building infrastructure companies aimed at advancing blockchain adoption, with investments spanning prominent entities such as Coinbase, Kraken, Ripple, Circle, and Bitfinex. Dunleavy’s forecast positions Bitcoin (BTC) at a target of $250,000 and Ethereum (ETH) at $12,000 by the end of 2025. Additionally, he anticipates Solana (SOL) reaching $700. These projections are underpinned by an analysis that draws parallels between historical economic shifts and current policy movements within the United States. Dunleavy draws a comparison to the 1970s in the United States, specifically referencing President Nixon’s termination of the Gold Standard in 1971 as a pivotal economic shift. “If we look at the 1970s in the US, then President Nixon’s ending of the Gold Standard in 1971 could be seen as a similar pivot point as the shift we see with the Trump administration’s embrace of crypto,” Dunleavy stated. Related Reading: Anthony Scaramucci Foresees China Bitcoin Strategic Reserve In 2025 He noted that following Nixon’s move, gold prices surged approximately sixfold within three years before experiencing a retracement, ultimately reaching a peak of twenty times the initial value by the decade’s end. Dunleavy suggests that a comparable trajectory could unfold for Bitcoin and altcoins under the upcoming administration’s policies. Quarterly Bitcoin And Crypto Predictions For 2025 Q1 2025: MV Global anticipates a sharp uptrend fueled by increasing excitement surrounding the new administration. “Trump’s first 100 days lead to a realization that the crypto agenda is actually top of mind,” Dunleavy explained. He expects a rapid market start, facilitated by the Biden administration’s cooperation in the transition process. Significant legislative advancements are anticipated within the first 100 days, particularly concerning market structure and stablecoins. Related Reading: Bitwise Forecast: Bitcoin, Ethereum, And Solana Poised For Record Highs In 2025 “We also place a higher chance on meaningful progress towards a BTC strategic reserve and the game theory of subsequent nation state adoption,” Dunleavy adds. However, a market correction is expected as the US tax season approaches, with March historically being a challenging month for Bitcoin. Q2 2025: The second quarter is projected to witness a gradual yet consistent upward movement as institutional investors increasingly enter the asset class. “ Slow but steady march upward as more institutions come on board,”Dunleavy writes. He highlights the potential approval of Bitcoin and Ethereum ETFs by major Registered Investment Advisors (RIAs) and brokerage firms such as Merrill Lynch and Charles Schwab. “ETH leads as the lack of a SOL ETF is a short-term impediment to institutional flows,” he noted, indicating that Ethereum may benefit more immediately from institutional adoption compared to Solana. Q3 2025: Summer is expected to bring a period of consolidation, with prices experiencing sideways movement. “Summer lull. Prices chop down,” Dunleavy predicts. The introduction of a spot Solana ETF or other crypto ETFs could provide a catalyst to break this stagnation. September is identified by the CIO as a critical month for potential Securities and Exchange Commission (SEC) rulings, which could significantly influence market dynamics. Q4 2025: The final quarter is anticipated to see a robust surge towards the year’s end, culminating in a blow-off top scenario. “Strong flurry into year end. Blow off top that we think bleeds into Q1 2026. This cycle peaks well into 2026 as the passive ETF bid keeps a very strong floor,” Dunleavy concludes. At press time, BTC traded at $100,812. Featured image created with DALL.E, chart from TradingView.com
In a series of public statements, Dennis Porter, CEO and founder of the non-profit advocacy organization Satoshi Act Fund, has raised expectations for what he describes as a landmark announcement related to Bitcoin. Speaking via the social media platform X, Porter indicated that the forthcoming development—scheduled for December 12—could mark a transformative milestone in BTC adoption, […]
A crypto analyst has unveiled uncanny similarities between Bitcoin’s Chicago Mercantile Exchange (CME) chart from late Q4 2024 and 2023. According to the analyst’s report, the 2024 Bitcoin CME chart replicates the price action seen in 2023, experiencing similar technical patterns, wave structures, price movements, and specific key indicators. Bitcoin CME Chart Mirrors 2023 Price Action A comparative analysis of the Bitcoin CME charts from Nov/Dec 2023 and Nov/Dec 2024 reveals striking parallels. The charts, shared on X (formerly Twitter) by crypto analyst and market technician Tony Severino, feature a near-identical Elliott Wave count, showcasing five distinct waves that indicate classical bullish patterns. Related Reading: XRP Price: Analyst’s ABC Correction Forecast Plays Out Perfectly, Second Half Predicts Bullish Impulse To $2.8 The price action in both charts highlights a significant breakout from consolidation, with Bitcoin’s bullish momentum surging as November and December approach. Moreover, the Bollinger Bands for the Bitcoin CME charts are expanding similarly, indicating a potential for an upward trend continuation. Bollinger Bands are unique technical analysis tools for identifying sharp short-term price movements and potential entry and exit points. Looking at Severino’s Bitcoin CME chart for 2023 and 2024, the price is riding the upper Bollinger Band for both years, suggesting a strong bullish trend. Adding weight to the analysis of these parallel CME charts, the analyst has revealed that both charts showcase similar Fibonacci extensions. In 2023, the 4.416 and 6 Fibonacci extension levels served as crucial markers, with BTC rallying to reach their equivalent price levels at $39,265 and $45,250, respectively. These same Fib extension levels have also been highlighted on the 2024 Bitcoin CME chart, suggesting that Bitcoin could repeat history and hit new price targets of $105,465 and $124,125, respectively. Another key factor Severino identified on both Bitcoin CME charts is the presence of gaps. A CME futures gap refers to the differences between the closing and opening prices of BTC on the CME. In 2023, a CME gap was filled during Bitcoin’s price rally, with the 2024 chart also spotlighting a comparable gap near the $124,125 mark. $120,000 BTC Price Target In Sight While delving deep into the price action and key technical indicators of the Bitcoin CME charts of Nov/Dec 2023 and 2024, Severino predicted that Bitcoin could prepare for a bullish move above $120,000. The analyst has based this optimistic projection on the striking similarities between the Fibonacci extension levels of both Bitcoin CME charts. Related Reading: Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible Earlier last week, the price of BTC experienced a sharp surge above $104,000, marking a new all-time high. However, the cryptocurrency quickly corrected to $94,000, with many analysts describing this decline as a “Bitcoin flash crash.” Currently, Bitcoin is trading at $97,638, experiencing a steady price increase from previous lows. If the cryptocurrency can maintain a stable bullish position, it’s possible that Bitcoin could rise back towards its $100,000 ATH. Featured image created with Dall.E, chart from Tradingview.com
Alabama State Auditor Andrew Sorrell has publicly proposed the establishment of a Strategic Bitcoin Reserve (SBR). Sorrell’s call comes amid a growing wave of interest in SBRs among both federal and state-level policymakers, as well as a sharp rise in BTC’s price following the election of President-elect Donald Trump, who campaigned on pro-Bitcoin policies. Speaking […]
Following an earlier prediction of the Bitcoin flash crash to $94,000, a crypto analyst has set a new target for the pioneer cryptocurrency. The analyst anticipates another major decline in the Bitcoin price before it hits a new all-time high. $130,000 Target In Sight After Bitcoin Flash Crash The broader crypto market has undergone a significant correction sparked by the recent Bitcoin flash crash. In the past week, the price of Bitcoin lost $3,000 in less than 30 minutes, dropping from $97,000 to $94,000 before quickly rebounding back above $97,000. This unexpected flash crash triggered widespread liquidations, with more than $1.5 billion in long and short positions wiped out as traders scrambled to mitigate losses. Related Reading: Dogecoin Price Prediction: Here’s What The 91-Day Pattern Says Could Happen Next With Bitcoin currently showing signs of momentum, analysts have voiced expectations of a future price rally. Notably, a TradingView crypto analyst, identified as ‘Setupsfx,’ shared a detailed price chart predicting Bitcoin’s future movements and next target. The analyst accurately forecasted Bitcoin’s flash crash to $94,000 and has now expanded his predictions to include a potential recovery phase. According to his latest analysis, Bitcoin is expected to find strong support around the $96,000 level following a short-term price correction to this key zone. This new support level is seen as a healthy retracement to help build momentum for upward movement. The analyst’s chart depicts an accumulation phase on the left side, during which prices seem to be moving sideways, forming strong lows while filling Fair Value Gaps (FVG). Additionally, order blocks and Breaks of Structure (BOS) can be identified on the Bitcoin price chart. According to the chart, the Bitcoin price successfully broke out of the aforementioned accumulation zone and started a rally that led to its ATH above $100,000. This bullish momentum aligns with the hype from the US Presidential election, which fueled Bitcoin’s rise to a new all-time high. With this in mind, the analyst predicts that Bitcoin will experience another pullback, likely testing the $96,000 zone before a price reversal. This reversal is expected to ignite a fresh rally, potentially pushing Bitcoin toward a new target of $130,000. Update On BTC Price Action At the time of writing, the Bitcoin price is trading at $97,223 after dropping by more than 2% in the last 24 hours, according to CoinMarketCap. The cryptocurrency has been trading below the $100,000 level following a slight pullback after hitting an ATH above $104,000. Related Reading: PEPE Price Hits $0.000027 ATH, On-Chain Data Says These Are The People Driving It The broader market sentiment has also turned bullish despite the recent Bitcoin price decline. Notably, Bitcoin’s trading volume has risen by 99% in the last 24 hours, and its market cap is approaching the $2 trillion milestone. Commenting on Bitcoin’s price action, crypto analyst Jelle disclosed that Bitcoin’s current price action closely mirrors its bullish behavior during the 2020 ATH breakout. Based on these similar price movements, the analyst predicts that Bitcoin could see another breakout soon if it maintains this bullish momentum. Featured image created with Dall.E, chart from Tradingview.com
In a keynote delivered Tuesday at the Bitcoin Mena conference in Abu Dhabi, Eric Trump, executive vice president of the Trump Organisation and the son of US president-elect Donald Trump, made a bold forecast for the BTC price. Trump’s speech touched on Bitcoin’s scarcity, global liquidity, and disruptive potential to the traditional financial sector, culminating […]
On December 9, Google’s CEO Sundar Pichai revealed “Willow,” a quantum computing chip that he claims represents a pivotal milestone in the quest for scalable quantum systems —raising immediate questions about its implications for Bitcoin’s long-term cryptographic security. While quantum computing has long promised breakthroughs, Willow’s reported ability to dramatically reduce error rates and handle […]
Anton Tkachev, a State Duma deputy from the “New People” party, has formally proposed the establishment of a Strategic Bitcoin Reserve (SBR). Tkachev submitted an appeal to the Russian Minister of Finance, Anton Siluanov, advocating for the creation of a Bitcoin reserve analogous to the country’s existing reserves in traditional currencies. The proposal has been […]
Renowned macro analyst Alex Krüger posits that Bitcoin is “highly likely” in a supercycle. Krüger articulated his perspective via X, emphasizing the distinct trajectory Bitcoin is currently undertaking compared to previous market cycles. A Bitcoin supercycle is a theoretical phase wherein Bitcoin’s price is anticipated to ascend extraordinarily, surpassing its traditional boom-and-bust cycles. This concept implies a prolonged period of growth fueled by increased mainstream adoption, leading to a significantly stronger and more enduring upward trajectory than the typical four-year halving cycle that Bitcoin historically follows. Is Bitcoin In A Supercycle? With regard to President-elect Donald Trump‘s pro-Bitcoin U-turn and his plan to establish a strategic Bitcoin reserve, Krüger remarked: “Do yourself a favor and stop comparing this cycle to prior cycles. Bitcoin is highly likely in a supercycle. The crypto industry has just experienced its most dramatic change in history, a fundamentally driven 180 degree turn,” the analyst stated. Related Reading: Bitcoin Nears $100,000: Market Expert Predicts $200K Surge Amid Retail FOMO And Volatility Krüger also referred to the rapid evolution of the Bitcoin and crypto sector, noting that it transitioned “from a barely legal pariah detested by the state, to one of the top industries embraced by the state” within weeks—a change he describes as “so extreme it’s hard to find comparables in modern times.” Drawing parallels to historical financial shifts, Krüger highlighted the transformative impact of the 1970s on gold. “Maybe gold in the 1970s is one. The 1970s was a transformative decade for gold. Nixon’s ending of the Gold Standard in 1971, dismantling Bretton Woods, sent gold surging from $35 per ounce to $850 in 1981,” he explained. Krüger also addressed the timing of Bitcoin’s potential peak, suggesting that expecting a major local top around March is reasonable based on his previous analyses. “This would be heavily dependent on the slope of ascent, funding rates, and the broader economy. But one should not equate a major local top with the beginning of the bear market,” he noted. While acknowledging the possibility of a bear market, he emphasized that “the conditions for it are not yet there. It’s also too soon to be expecting a top. Bitcoin bull-runs always last for many months. It’s only been 33 days since Trump unleashed the Kraken.” Related Reading: Bitcoin Rally To Continue If This Level Holds, Is $110,000 The Next Stop? Highlighting the precarious nature of market sentiment, Krüger added a cautionary note: “The moment you all finally believe what I just wrote, then it will [be] the top.” With this statement Krüger underscores the psychological factors that often influences market dynamics, particularly the collective belief in market peaks. X user Paradox Parrot (@Paradoxparrot) commented on Krüger’s assertion, stating, “Agree. But, ‘this time is different’ is a good way to round trip back down.” In response, Krüger acknowledged the cyclical skepticism surrounding altcoins, asserting, “Sure. Alts will round trip most of it. It’s the nature of the beast. Mind this time has already been proven different multiple times at many levels. I’ve anticipated and covered that here in detail since mid 2023. Btw alts round trip for 2 reasons. A) lack of fundamentally driven demand. And more importantly B) illiquidity (that’s also why they go up in such a vertical manner).” Despite Krüger’s optimistic outlook, not all experts concur with the supercycle hypothesis. Chris Burnsike, partner at Placeholder VC, offered a contrasting view on X on December 7: “Bookmark it for later: a supercycle is never real – everything is cyclical, though cycles can vary. […] Buying into the idea of a supercycle is how you never sell and roundtrip. Ask anyone who never sold in 2021.” At press time, BTC traded at $98,287. Featured image created with DALL.E, chart from TradingView.com
Crypto analyst Tony Severino has revealed that the Bitcoin price bull run could end as soon as January 2025. The analyst further projected that BTC will top below $150,000 as its bull run ends by next month. Bitcoin Price Could Top By January 2025 Below $150,000 In an X post, Tony Severino reaffirmed his theory that the Bitcoin price could top as soon as January 20, 2025. He shared an accompanying chart showing that BTC follows a textbook example of a “complete” market cycle. The chart showed that Bitcoin could top below $150,000 as it reaches the market top next month. Related Reading: Technical Analysis Puts XRP Price Above $5 In Next 3 Days, Whales Buy $288 Worth Of XRP The chart shows that the Bitcoin price is on the last leg of this market cycle’s motive wave. Once this motive wave is done, possibly as soon as January 2025, the corrective wave of this market cycle will begin. This wave, which ushers in the bear market, could last until mid-2027 and cause BTC to retrace to as low as $50,000. Donald Trump’s Pro-Crypto Moves May Already Be Priced In In a detailed blog post, Tony Severino provided more insights on why the Bitcoin price bull run could top this early. He noted that Donald Trump’s victory in the US presidential elections is the narrative that has caused a market-wide takeoff. Thanks to his pro-crypto stance, BTC broke out of a resistance level the night he was declared the winner and has since rallied to $100,000. Related Reading: Ethereum Price Breaks Above Massive Triangle – Next Target: $10,000 However, Severino remarked that Trump’s pro-crypto world is the new paradigm this time around. He acknowledged that market participants cannot envisage a world where the Bitcoin price doesn’t rise much higher, considering that the president-elect has promised to create a Strategic Bitcoin Reserve, which could create a lot of FOMO among other nation-states. However, the crypto analyst asked market participants to consider the fact that the Efficient Market Hypothesis says that the market is forward-looking and prices in all information the moment it is available. Severino believes that BTC could have already priced into Trump’s pro-crypto moves. If so, he predicts this “new paradigm” could create the perfect atmosphere of euphoria and a cyclical peak when Trump finally takes office. In other words, Donald Trump’s inauguration could mark the top for the Bitcoin price bull run, and the corrective wave could begin as soon as he takes office. The Last Two ‘New Paradigm’ Became Cycle Peaks Tony Severino alluded to what happened the last two times the term “new paradigm” was regularly used. According to him, those events became the cyclical peaks for the Bitcoin price. First, he noted that when CME Futures were about to launch, many expected that the fact that institutions could have exposure to BTC would bring a lot of capital. However, that wasn’t the case, as it kicked off a bear market instead. The same thing happened with Coinbase going public, sparking optimism that the Bitcoin price could easily cruise to $100,000. However, that wasn’t the case, as that event marked the cyclical peak for the Bitcoin price bull run. At the time of writing, the Bitcoin price is trading at around $99,200, down in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Shareholders of Amazon.com, Inc. (NASDAQ: AMZN) have submitted a proposal urging the $2.3 trillion technology conglomerate to consider adding Bitcoin to its balance sheet. The measure, submitted by the National Center for Public Policy Research and slated for discussion at Amazon’s 2025 annual shareholder meeting in April, calls on the company’s Board to assess whether […]
In a December 5 appearance on CNBC’s “The Exchange,” Galaxy CEO and founder Mike Novogratz offered insights into Bitcoin’s meteoric rise while making a striking comment that has reignited curiosity about the mysterious figure behind it all: Satoshi Nakamoto. A Historic Milestone For Bitcoin With Bitcoin hitting the symbolic $100,000 milestone—an extraordinary ascent from a […]
The Bitcoin price recently achieved a monumental milestone, crossing the $100,000 threshold for the first time in its history. While the breakthrough is a significant achievement for the BTC price, it also raises the question of where it goes from here. The consensus among many analysts is of a continued bullish price action for Bitcoin. However, a crypto analyst on TradingView has issued a stark warning, labeling this price point as a “dangerous zone.” According to their technical outlook, reaching $100,000 could cause a massive correction in the Bitcoin price up to the $72,000 price level. Why $100,000 May Be A Turning Point For The Bitcoin Price After four failed attempts to breach the $100,000 mark, Bitcoin has finally broken through the psychological threshold and is now open to uncharted price territory. Although the Bitcoin price retraced below $100,000 in the hours after, many investors remain optimistic, viewing this retracement as a temporary setback and believing that Bitcoin’s journey above $100,000 is far from over. Related Reading: XRP Downtrend Is Only Temporary: Analyst Gives Reasons Why Price Is Headed For $3.2 The optimism, however, is met with a contrasting perspective from an analysis of the TradingView platform, which offers a more cautious and bearish outlook. The analyst highlights the $100,000 level as a “magnet” that has consistently drawn price activity over the past few weeks, serving as a critical zone of attraction and resistance. With this in mind, the analyst’s outlook is of bearish price action, essentially predicting a retest of $94,000. From here, the analyst expects the occurrence of a market structure break (MSB), which in turn would trigger a broader correction for the BTC price. Interestingly, the analyst predicted that breaking below the $94,000 price level would lead to a retest of $88,000. Should Bitcoin break below the $88,000 support, the analyst foresees further price declines that would drive the Bitcoin price toward an ideal target zone just above $72,200. Bullish Sentiment Outweighs Bearish Sentiment If the bearish scenario outlined by the analyst comes to pass, it could plunge the crypto market into another bear market, with other cryptocurrencies mirroring Bitcoin’s downward trajectory and erasing recent price gains. Related Reading: Dogecoin Price Continues Trading Sideways But Bullish Pennant Says Get Ready For $1.30 However, this remains a prediction rather than an assessment of the current crypto market dynamics. Presently, the crypto market continues to bask in bullish sentiment, as evidenced by the Fear & Greed Index, which is currently at an extreme greed level of 81. A few analysts have suggested that Bitcoin’s price may still have room to climb, with some forecasting potential highs near $140,000. At the time of writing, the Bitcoin price is trading at $98,350. Interestingly, the recent break above $100,000 led to a retest of $94,000 in the past 24 hours. However, the Bitcoin price rebounded from $94,000 instead of breaking below. Despite this rebound, the leading cryptocurrency might not be out of the woods yet. Featured image created with Dall.E, chart from Tradingview.com
In a post shared on Thursday via X, Lloyd Blankfein, the former Chief Executive Officer of Goldman Sachs, acknowledged a potential competitive dynamic between Bitcoin and the US dollar in the context of global reserve currencies. Blankfein, who previously held skeptical views on digital assets, acknowledged that BTC’s growth may place it in direct competition […]
Bitcoin experienced extreme volatility yesterday after reaching a new all-time high of $104,088 on Wednesday. What followed was a textbook “Darth Maul” candle on the daily chart, as BTC plummeted from $103,550 to as low as $90,500 before stabilizing. While some observers initially read the move as a harsh rejection at the psychologically significant $100,000 level, leading analysts suggest this could represent a routine market flush-out rather than a cyclical peak. Could This Be The Bitcoin Cycle Top? Traders and analysts on X present a unified narrative: the abrupt spike and subsequent plunge were likely orchestrated by large players capitalizing on high-leverage traders. Veteran trader IncomeSharks (@IncomeSharks) stated, “Bitcoin – Classic Darth Maul. Correct me if I’m wrong but I don’t think we’ve seen an asset top with that kind of candle. Usually that’s the punish late longers, trap the shorters, and send it higher candle.” Another crypto analyst known as Astronomer (@astronomer_zero) added, “It’s just whales using the ‘rinse high leverage button.’ Before continuing whatever it was meant to do. I would want to see the downside of that wick cleared, but that could be it too.” Related Reading: Hut 8 Unveils $750 Million Initiative To Establish Strategic Bitcoin Reserve Tony “The Bull” Severino, CMT, underscored the scale of these moves, noting: “An $11K ‘Darth Maul’ on the Bitcoin daily chart. Stops on both sides were run. Incredible intraday volatility in Bitcoin. Welcome to what it’s like for BTC to be $100K. $10,000 moves in a day are now a thing.” He followed up, “$100K Bitcoin is the new $10K,” sharing comparative charts from the 2020–2021 bull run and drawing parallels to the current price environment. Charles Edwards, founder of Capriole Investments, reinforced this historical context: “Bitcoin. Yes, this is normal.” Edwards posted a similar chart, recalling the volatility when BTC was at $10,000 as well as $1,000 in early 2017. Key indicators also remain suggestive of further upside. According to Matthew Sigel, head of research at VanEck, top signals are scarce at these levels. “Aside from funding rates, which can stay elevated for some time, very few of our ‘top signals’ indicators say the cycle is peaking. The path of least resistance is still higher, in my opinion.” Related Reading: Bitcoin On Track To Replace Gold In 10 Years, Trading Firm Predicts Sigel referenced four key metrics: the MVRV Z-Score (still below 5), the Bitcoin Price SMA Multiplier (indicating room for further growth), subdued Google Trends, and Crypto Market Dominance at a mid-range level. These data points collectively imply that the current cycle may not be approaching its apex. Macro analyst Alex Krüger (@krugermacro) delivered another perspective: “Being asked if that was the top so allow me to share my view. In my book the first levered flush out of a strong bull run, particularly one driven by strong fundamentals, does not mark the top.” He noted that while the move was widely anticipated in general terms—albeit not precisely timed—it does not alter the underlying strength of Bitcoin’s rally. Krüger added that the sudden retail pivot to older, “dino” altcoins might have signaled a local top for those assets, but not necessarily for Bitcoin: “Nothing really has changed imo. Would have liked to see funding also reset on alts. Alas, we can’t get it all.” At press time, BTC traded at $98,146. Featured image created with DALL.E, chart from TradingView.com
The Bitcoin price has soared above $100,000 for the first time ever, sparking optimism among market participants. In line with this development, crypto analyst Xanrox has provided insights into whether more gains lie ahead for Bitcoin or whether this rally above $100,000 could be a potential bull trap. What Next For Bitcoin Price Following Rally To $100,000 In a recent TradingView post, Xanrox suggested that the Bitcoin price will unlikely enjoy a sustained rally for now. He explained that this is unlikely because a sustained rally could easily put Bitcoin at $600,000 by December 2025, which is impossible. As such, he believes that BTC would need to slow down. Related Reading: Dogecoin Price Continues Trading Sideways But Bullish Pennant Says Get Ready For $1.30 The analyst further noted that the Bitcoin price hasn’t made any bigger correction in the past weeks, which is one reason why he is not looking to buy BTC anytime soon. Xanrox remarked that the market needs to see a shakeout and a flash crash first before anything else. He suggested that Bitcoin could drop to as low as $85,000 when this correction finally happens. Xanrox stated that the $85,000 level is a very reasonable support because it is the end of the massive FVG (fair value gap) on the daily candles. He added that this target is also the start of the first price action on the volume profile. The crypto analyst revealed that this is the level at which he is looking to buy Bitcoin. The crypto analyst indicated that this Bitcoin price rally to $100,000 is a bull trap, as he highlighted a symmetrical triangle on the four-hour chart. He said this looks like a bull trap for retail traders because everyone would buy the breakout. As such, he envisages that Bitcoin would make a last push to sweep liquidity. A Major Correction Might Not Come Anytime Soon On the other hand, crypto analyst Ali Martinez has offered a diverging opinion, suggesting that a major correction might not come anytime soon for the Bitcoin price. In his recent X post, he alluded to a previous post in which he stated that the current bullish cycle is very similar to the ones in 2017 and 2020. Related Reading: Bitcoin Price To $100,000: Why Reclaiming The $96,400 Level Is Very Important For Another Rally If this pattern holds true, Martinez predicts that the Bitcoin price won’t suffer its first major correction of between 15% to 30% until its hits $135,000 or even $159,000. Meanwhile, the accompanying chart put the market top for Bitcoin at $240,000, indicating that it will still have more room to move the upside even after this correction. At the time of writing, the Bitcoin price is trading at around $102,800, up over 6% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
In an exchange on X, Tesla CEO Elon Musk described El Salvador’s Bitcoin holdings as “impressive” after President Nayib Bukele shared an update on the country’s BTC wallet. El Salvador, the first nation to adopt Bitcoin as legal tender in September 2021, has witnessed significant growth in its BTC investments year-to-date. Elon Musk Is Impressed […]
In an unprecedented turn of events, Bitcoin received endorsements from two of the world’s most influential leaders yesterday. US Federal Reserve Chair Jerome Powell and Russian President Vladimir Putin independently acknowledged the cryptocurrency’s growing significance during separate events on December 4, 2024. Their remarks signal a potential paradigm shift in the global financial landscape, as […]
The Bitcoin price has recently attempted to reclaim the $96,400 level as support after breaking above the bearish trend line. A crypto analyst has underscored why this support level is crucial for Bitcoin’s next price rally, as it could set the stage for a potential retest above the $100,000 All-Time High (ATH). Bitcoin Price Retests $96,400 To Trigger Surge To $100,000 Prominent crypto analyst Rekt Capital took to X (formerly Twitter) on December 4 to inform his over 518,000 followers about the current Bitcoin price action and future direction. The analyst suggested that if Bitcoin successfully tests the $96,440 support level, it could trigger a price increase to $100,068. Related Reading: Cardano Next In Line After XRP? ADA Price Targets $4.88 In Epic Breakout Sharing a price chart, Rekt Capital revealed that Bitcoin has persistently retested its series of Lower Highs, establishing them as a key support level. In his Bitcoin price chart, “Lower Highs” means that each successive high point is lower than the previous point. This development is typically observed during a downtrend. However, with Bitcoin now treating these lower highs as support, it indicates a potential shift in the market, suggesting that prices may be stabilizing after declining. Rekt Capital also highlighted that Bitcoin is producing longer downside wicks, indicating that its price declined significantly during the time frame, but buyers stepped in. The analyst emphasized that Bitcoin is currently grabbing liquidity at lower prices without breaking below the key support trendline. A liquidity grab occurs when large volumes of orders at key price levels are triggered unexpectedly. In the case of Bitcoin, “grabbing liquidity” refers to the market dipping into levels where buy orders are clustered, enabling large players to execute trades. Rekt Capital has disclosed that, as long as this trend continues, Bitcoin will eventually move back up to reclaim the $96,440 level. Recovering this crucial support will allow Bitcoin to reach and even surpass the $100,000 milestone. Related Reading: Analyst Says Dogecoin Price At $1.3-$1.5 Is Still Possible, Here’s Why Bitcoin’s Bear Case Scenario Looking at the price chart presented by Rekt Capital, several support levels are highlighted, indicating price levels that Bitcoin could fall to if it fails to reclaim the $96,440 mark. While current Bitcoin price action indicates that it could potentially reach $100,000, the analyst has suggested that if the pioneer cryptocurrency fails to hold the $96,440 support, it might retest a lower support level of around $91,070. As indicated by the red line on the price chart, $91,070 is a critical price level for Bitcoin. If the cryptocurrency also falls below this level, it could crash to new lows around $87,325. As of writing, the price of Bitcoin is trading at $96,737, marking a 3.24% increase over the past week. A drop below the $87,300 level would represent more than a 10% crash from Bitcoin’s current value. Featured image created with Dall.E, chart from Tradingview.com
In an interview with Natalie Brunell, Luke Gromen, a renowned macroeconomic analyst and founder of FFTT LLC, shared his insights on former President Donald Trump’s potential influence on the Bitcoin price. The discussion centered around Trump’s campaign promise that he will establish a strategic Bitcoin stockpile and his comparison to oil. Bitcoin As ‘The New […]
In the latest episode of The Milk Road Show, Charles Edwards, founder of crypto hedge fund Capriole Investments, provided an in-depth analysis of Bitcoin’s current state, its future trajectory, and the potential conclusion of the traditional 4-year Bitcoin cycle. Edwards posits that Bitcoin’s journey to $100,000 could be the catalyst for an unprecedented price acceleration. He suggests that once this psychological and technical barrier is breached, Bitcoin could potentially double in value within weeks. Drawing parallels with gold’s recent performance, Edwards stated, “If you look at gold this year, it went up 33% in 16 weeks—that’s a $3.8 trillion move in a really old asset. For Bitcoin to go from $100K to $200K, that’s just $2 trillion on an asset that trades 24/7 and is more accessible globally.” He emphasizes that Bitcoin’s relatively smaller market capitalization compared to gold allows for more rapid price movements. Historically, after surpassing previous all-time highs, Bitcoin has experienced significant and swift appreciations, entering periods of price discovery where supply constraints can lead to vertical price increases. When Will Bitcoin Price Double? The $100,000 mark is not just a round number; it represents a significant resistance level due to several factors. Edwards highlighted the presence of a substantial sell wall at this price point, noting, “We have the biggest sell wall we’ve ever seen in the order books for Bitcoin at $100,00. I think just yeah once that’s cleared out, that’s when you know everyone who wanted to sell has sold and you have these really sharp rapid vertical price appreciation moves because there’s just no more supply left.” Related Reading: MicroStrategy Continues Bitcoin Buying Streak: 15,400 BTC Added This Monday Additionally, many investors who entered the market at lower prices may view $100,000 as an optimal point to realize profits, potentially creating selling pressure. However, Edwards remains optimistic that this barrier will be surpassed, especially within the next few months, given the seasonal strength observed in Bitcoin’s price movements during Q4 and Q1. “We are [at a point] in the cycle where we are seasonal and this is kind of like the optimal two to four month period, […] maybe a five to six month period every four years. After each Halving every four years, you have about 12 to 18 months where you get 90% to 95% of all the cycles returns out of every four years. So most of it happens in that one year alone. If you look at Q4 and Q1 that again is the majority of the returns […] once you have a strong monthly breakout above all time,” the hedge fund CEO stated. While Edwards is bullish on Bitcoin’s prospects, he cautions investors about the inherent volatility of the market. He pointed out that corrections of 20% to 30% are normal during bull markets and that investors should be prepared for such fluctuations. “It’s normal to have 30% drawdowns every few months in a Bitcoin bull market,” he noted. Factors such as increasing leverage in the market could exacerbate price swings. Edwards mentioned that if leverage and funding rates continue to rise without chipping away at the existing sell wall, Bitcoin could revisit lower support levels, potentially around $80,000. However, he emphasizes that such volatility is a natural part of Bitcoin’s growth cycle and not necessarily indicative of a long-term downturn. The End Of The Traditional 4-Year Cycle? A significant point of discussion was whether the traditional 4-year cycle, largely driven by the halving events, is reaching its conclusion. Edwards believes that as Bitcoin matures and integrates more deeply with traditional financial systems, the impact of the halving on market cycles will diminish. “As Bitcoin’s inflation rate decreases and it becomes more integrated with traditional finance, the four-year halving cycles may become less impactful. The large 80% drawdowns we’ve seen in the past might not happen in future cycles,” he stated. This maturation process could lead to more stable growth patterns and reduced volatility. Edwards suggests that future cycles may see shallower corrections, possibly around 60% rather than the dramatic declines of previous years. Related Reading: Data Shows Selling Pressure Mounts On Bitcoin: Is The Bull Run at Risk? Notably, several potential catalysts could propel Bitcoin’s price to unprecedented levels. Edwards mentioned the possibility of the US government establishing a Strategic Bitcoin Reserve under President-elect Donald Trump. While he estimates the probability of this occurring in 2025 to be around 30%, he acknowledges that such an event would be a game-changer. “Assuming [the U.S. government] doesn’t sell their existing holdings is great, but it’s probably not going to help the cycle a lot. Actively buying Bitcoin could be a game-changer,” he remarked. Corporate adoption is another significant factor. The potential for major corporations to add Bitcoin to their balance sheets could drive substantial demand. Edwards highlighted the upcoming vote by Microsoft on this matter, saying, “Let’s hope it’s Microsoft [on December 10].” Furthermore, the success of spot Exchange-Traded Funds (ETFs) has opened the doors for institutional investors. The sustained demand from ETFs has been absorbing Bitcoin supply steadily. Edwards observed, “The ETFs have just been sucking Bitcoin out of the system ferociously.” Bitcoin Price Predictions Edwards provided a base and an optimistic scenario for the Bitcoin price in this cycle. He stated, “I’d be surprised if we don’t get to $140,000.” This base case assumes steady market conditions without any extraordinary positive events. In a more optimistic scenario, he believes Bitcoin could reach $200,000, especially if significant catalysts, such as government or corporate adoption, materialize. “We could easily get to $200,000. Once we clear those all-time highs, Bitcoin does multiples very quickly,” he explained. He concluded: “”Once we’re above $100,000, people who aren’t in Bitcoin just cannot comprehend Bitcoin above $100,000 […] That’s when you see the real switch flick and the flows happen.” At press time, BTC traded at $94,814. Featured image created with DALL.E, chart from TradingView.com
Dennis Porter, CEO and Co-Founder of the Satoshi Act Fund, has announced that ten US states are poised to introduce legislation to establish a Strategic Bitcoin Reserve (SBR) at the state level. Notably, the Satoshi Act Fund was instrumental in Pennsylvania’s first-ver introduction of the Bitcoin Strategic Reserve Act, which permits the state to invest […]
Crypto analyst TradingShot had predicted before that the Bitcoin price could rally to as high as $150,000 in this bull run. With the flagship crypto now close to the $100,000 milestone, the analyst has charted Bitcoin’s current price action and provided insights into how the crypto could reach this $150,000 target by 2025. The Current Bitcoin Price Action And Road To $150,000 In a TradingView post, TradingShot stated that the Bitcoin price is now off the 0.786 to 1.0 Fibonacci range, where it consolidated from March 2024 until October 2024. The analyst noted how the breakout in October was largely thanks to the US presidential elections and the euphoria after Donald Trump won. Related Reading: Fantom Price Breakout: Analyst Shares Anatomy Of FTM’s 18,000% Move To $150 By 2025 TradingShot said that the Bitcoin price is only one month outside this range and is already much higher. He noted that last month’s candle was similar to November 2020 and May 2017. Coincidentally, those periods were when the “most aggressive rallies of those bull cycles started.” The crypto stated that the Bitcoin price was at a 71.5° angle between May and December 2017. In the 2021 cycle, Bitcoin was at a 68.5° angle (3° lower) between November 2020 and April 2021. If this happens to be a trend, TradingShot remarked that it is safe to assume that the 2024/2025 parabolic rally could be at a 65.5° angle (-3° from the previous cycle). In line with this, TradingShot said that this gives the Bitcoin price a potential target of $300,000 as early as May 2025 if the crypto records a double top cycle as in 2021. Meanwhile, the crypto analyst asserted that the $150,000 target is “very plausible” from a technical analysis perspective since it is just below the top of a multi-year channel he highlighted on the chart. BTC’s Next Move Still Unclear Amid this bullish prediction for the Bitcoin price, crypto analyst Kevin Capital has suggested that BTC’s move is still unclear. He stated that while Bitcoin has a lot of liquidity to the downside of about $88,000, the real bulk of liquidity is still around the $100,000 to $103,000 range. Based on this, the analyst stated that it is best to sit back and watch what comes next. Meanwhile, crypto analyst Mikybull Crypto has suggested that the Bitcoin price may experience a cooling-off period in the meantime. This came as he revealed that the sell signal has flashed on Bitcoin’s dominance for the first time since 2020. In line with this development, he stated that it is officially altcoin season. Related Reading: Crypto Analyst Says Litecoin Is About To Pull An XRP, Here’s What He Means Blockchain center data shows that it is indeed altcoin season. In the last 90 days, 75% of the top 50 coins by market cap have outperformed the Bitcoin price. With this being altcoin season, Bitcoin could cool off while altcoins record parabolic rallies. At the time of writing, the Bitcoin price is trading at around $95,600, down in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Considering Bitcoin’s steady bullish momentum following Donald Trump’s win in the US Presidential elections, a crypto analyst believes that continuing this upward trend could see the Bitcoin price hit $245,000 this cycle. The analyst has provided the timeline for this mega price leap, utilizing logarithmic chart patterns and historical data to back his optimistic projection. When Bitcoin Price Will Hit $245,000 TradingView crypto analyst Behdark has released a report that provides a technical overview of the recent Bitcoin price trends and potential future movements. This detailed analysis is based on a two-week (2W) time frame on a chart that presents complete data on the Bitcoin price action. Related Reading: Crypto Analyst Says Litecoin Is About To Pull An XRP, Here’s What He Means Looking at the Bitcoin chart, Behdark highlighted that the pioneer cryptocurrency was moving within a valid price channel, where the midline and resistance trend lines of the channel are drawn from previous highs. These trendlines point to a potential price target between $245,000 and $250,000 by 2025. The analyst acknowledged that he had previously set a medium—to long-term price target of $169,000 for Bitcoin, but has modified his projection to $245,000. At the time of writing, Bitcoin is trading at $95,107, marking a slight 2.18% decline in the last 24 hours. If the cryptocurrency increases to $245,000, it would represent a massive 157% price surge from its current value. Behdark’s optimistic projections of Bitcoin are based on analysis from logarithmic charts and price channels, which are particularly useful in analysing cryptocurrencies. These charts help identify sustainable market trends for a cryptocurrency over medium—to long-term periods. Moving forward, the analyst revealed that Bitcoin has successfully broken and surpassed critical resistance levels between the $77,000 and $78,000 range, indicating a shift in market sentiment. This previous resistance range has now transitioned into a price floor, which will act as a support level for Bitcoin. If Bitcoin’s price drops, Behdark has revealed that the cryptocurrency will likely retest this broken resistance level. Moreover, the Bitcoin price action is exhibiting a Chicago Mercantile Exchange (CME) gap of around $77,000, which, if filled, could reinforce bullish sentiment and reactivate Bitcoin’s upward momentum. Trump Presidency To Influence Crypto Market In his Bitcoin price analysis, Behdark also indicated that a Trump presidency could significantly influence Bitcoin’s future trajectory. The analyst noted that Trump’s support for cryptocurrencies and his upcoming four-year Presidential regime could have a favorable impact on the crypto market. Related Reading: Shiba Inu Burns Spike 7,418% In 1 Week – Can SHIB Price Continue Pushing To New Highs? Behdark believes that favorable political conditions could boost the adoption of cryptocurrencies and significantly trigger a sharp increase in the market capitalization of digital assets like Bitcoin. He further suggested that there would be considerable profit-making, but investors should be mindful and patient regarding risk management during his bull cycle. Featured image created with Dall.E, chart from Tradingview.com
Michael Saylor, Executive Chairman of MicroStrategy and a prominent Bitcoin evangelist, has held his 3-minute presentation to the Microsoft (MSFT) Board of Directors and CEO Satya Nadella, articulating why the company should adopt BTC as a reserve asset. Why Microsoft Should Adopt Bitcoin: Saylor Saylor, who was invited to present his insights, emphasized the critical […]
Although currently undergoing a brief correction after almost touching the $100,000 price level, technical analysis has shown the emergence of a bullish pattern on the Bitcoin price chart. Notably, the correction has given rise to the formation of a bullish pennant on the 3-day candlestick Bitcoin price chart. This development might be the bullish momentum needed to eventually break past the $100,000 price threshold. However, the anticipated breakout is not just above $100,000, but a run that would send the cryptocurrency to $145,000. Bullish Pennant Emerges On Bitcoin Price Chart Recent price action in the past 24 hours has seen the Bitcoin price returning to the $96,000 price level after spending the majority of the week on a correction path. Particularly, this correction saw the Bitcoin price hitting a low of $91,000 as many traders took profit. Related Reading: Analyst Maps Out Dogecoin Price Arc To $3 Using A Logarithmic Scale Notably, this back-and-forth movement of the BTC price has given rise to the formation of a small bull pennant. Crypto analyst Trader Tardigrade, known for his technical analyses, pointed out this formation on social media platform X. In his post, he stated, “Small Pennant Big Target,” while pointing to the formation on the 3-day candlestick Bitcoin price chart. A bullish pennant is a continuation pattern that often emerges during strong uptrends. It begins with a sharp price movement (the flagpole), followed by a consolidation phase (the pennant), before potentially breaking out in the same direction as the initial trend. The emergence of this bullish pennant on Bitcoin’s 3-day chart suggests that the cryptocurrency may be gearing up for another leg higher. However, the formation suggests that the Bitcoin price could still continue to consolidate for a while as the liquidity in the pennant is yet to be filled. Nonetheless, Trader Tardigrade’s analysis highlights the longer-term implications of this formation. According to his projections, once Bitcoin completes its consolidation and breaks out of the pennant, it could surge toward an ambitious price target of $145,000. The $145,000 price target has become somewhat recurring among crypto analysts. For instance, this price target also made its way into an analysis by crypto analyst Tony Severino, whose analysis pointed to the Bitcoin price top for this cycle at around $145,000. $100,000 Price Target Still In Play At the time of writing, the BTC price is trading at $96,070 and is up by 0.5% in the past 24 hours but down by 3.3% in the past seven days. The possibility of the Bitcoin price reaching the $100,000 price mark is not a matter of if at this point but of when. Related Reading: Bitcoin Price Rejection At $99,000: Temporary Or End Of The Bull Rally? Speaking of when, the BTC price is about to witness another catalyst that could finally send it above $100,000. Bitcoin is about to undergo its largest monthly options expiry of 2024 on Friday, involving a total exposure of $13.6 billion. This expiry event could provide the momentum needed for bullish traders to drive Bitcoin’s price past the $100,000 milestone in the coming week. Featured image created with Dall.E, chart from Tradingview.com
The UK Court of Appeal has firmly rejected Craig Steven Wright’s (CSW) application to appeal his case asserting he is Satoshi Nakamoto, the creator of Bitcoin. The dismissal of Wright’s appeal effectively nullifies his claims, reinforcing the prevailing consensus that he is not the individual behind the pseudonym. In May this year, the UK High […]
Crypto analyst TradingShot recently discussed the Bitcoin price rejection at $99,000, providing insights into whether this was temporary or marked the end of the bull rally. His analysis indicated that this price rejection was temporary and that Bitcoin would still reach the $100,000 mark and possibly surpass it. Bitcoin Price Rejection At $99,000 Likely Temporary In a TradingView post, TradingShot suggested that the Bitcoin price rejection at $99,000 is likely temporary. As to what could have caused this price rejection, the analyst noted that this could be due to the exhaustion of the post-election euphoria, as the market has fully priced into the fact that pro-crypto Donald Trump will be the next US president. The analyst added that there is also the psychological weight of the $100,000 barrier, possibly because investors tend to take profit around such levels. From a technical analysis perspective, the analyst explained what could be causing this Bitcoin price rejection at the $99,000 level. TradingShot highlighted a Fibonacci channel that has been going on through the last three cycles, including this one. He noted that this pattern started with a strong rebound that formed the December 2013 top for the Bitcoin price. That cycle top was on the 0.236 Fib level of the cycle, which is a level that has rejected rallies during subsequent cycles. This Fib level rejected the Bitcoin price uptrend on November 22 and is acting as this ‘1st Real Resistance of the Bull Cycle.’ TradingShot stated this is the first major rejection level a bull cycle faces before the eventual market top. The analyst added that the high during the last two cycles has been on the 0.0 Fib level, which is technically at the top of this channel. The analyst’s accompanying chart showed that the target at the top of this channel for the Bitcoin price is above $200,000. However, TradingShot mentioned that the red spot on the current cycle in late 2025 doesn’t represent a projection but is simply an illustration for comparison purposes. When The Market Top Could Happen TradingShot also provided insights into when the Bitcoin price could top in this market cycle. The analyst noted that the past bull cycles have been roughly 150 weeks (1050 days). Therefore, a repeat of this pattern would mean that the Bitcoin top for this cycle could come around late September or early October. The analyst stated that it is much better to try to time the market top and sell rather than put an actual price tag on it. TradingShot added that even though the Bitcoin price is on a technical rejection, the current rally started on the August 5 low, which is exactly in the 1-week 50-day moving average. As long as this trendline holds, the analyst remarked that the cyclical bullish wave should stay intact. Featured image created with Dall.E, chart from Tradingview.com
In a research note titled “Bitcoin’s Road to $100K – Tear Down This Wall,” Alex Thorn, Head of Firmwide Research at Galaxy Digital, provides an analysis of Bitcoin’s recent performance and the factors influencing its trajectory toward the $100,000 milestone. Bitcoin has not traded below $90,000 for the past week, fueling anticipation that it will […]