$BTC

Update:

Technical Analysis:

Bitcoin has just tested the 50-day moving average (50MA) – an important indicator that often acts as support or resistance. Maintaining above this level could end the recent price correction and continue the upward trend. Conversely, if it fails to hold, Bitcoin risks a deeper decline.

Market Factors:

Data from CryptoQuant shows that over 48,000 Bitcoins (worth $4.5 billion) have been withdrawn from exchanges in the past 7 days. This indicates that investors are moving money to private wallets for long-term storage, a positive signal for confidence in Bitcoin. Large-scale withdrawal activity may also signal new buying, creating upward pressure in the near future.

Forecast:

Analysts at Bitfinex forecast that Bitcoin could reach $105,000 by January 2025, fluctuating between $95,000 and $110,000. Many experts predict that the price of Bitcoin will peak at $200,000 by 2025, supported by record growth of spot Bitcoin ETFs in the United States, which currently manage nearly $110 billion in assets.