Bitcoin’s recent price movements have sparked optimism among analysts, with predictions of a potential 15% rise in the near term followed by consolidation.
After rebounding to $107,000 on Tuesday, the cryptocurrency demonstrated strong technical resilience, according to Markus Thielen, head of research at 10x Research.
Thielen highlighted the breakout as a key signal for traders, offering what he described as a “low-risk, high-reward” opportunity. He also noted a recurring pattern of price increases in $16,000 to $18,000 increments since the approval of U.S. spot Bitcoin ETFs last year. If this trend holds, Bitcoin could reach $122,000 by February, with the potential for even higher levels before stabilizing.
Bitfinex analysts echoed this sentiment, praising Bitcoin’s strength compared to traditional markets and attributing the recovery to growing market enthusiasm, particularly following Donald Trump’s inauguration on January 20. They emphasized that Bitcoin’s ability to test and hold critical resistance levels around $101,000 has reinforced investor confidence.
Additional support for the bullish outlook came from Keith Alan, co-founder of Material Indicators, who identified a “cup-and-handle” formation on the weekly chart. Alan suggested this pattern could drive Bitcoin toward its all-time highs if key levels are maintained. While optimism is high, analysts caution that maintaining momentum above $106,000 is crucial for confirming the upward trajectory.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.
BlackRock is making another assertive move into digital assets, quietly expanding its crypto portfolio with sizable purchases of both Bitcoin and Ethereum.
In a move that signals changing tides in traditional finance, JPMorgan is preparing to accept Bitcoin ETF holdings as collateral for loans—starting with BlackRock’s iShares Bitcoin Trust, according to insiders familiar with the plan.