Today Bitcoin (BTC) is trading around $63,900 to $64,000, showing a slight decline in the last 24 hours but maintaining a 6.6% increase over the past week. The market sentiment for Bitcoin is mixed. On one hand, analysts are optimistic about a potential rally in Q4, driven by historical patterns and the influence of large investors, or "whales," who may soon trigger significant market activity.
However, short-term trends remain uncertain, as Bitcoin is currently trapped in a descending channel, with no clear direction established. Some experts believe this lack of momentum could continue until a significant breakout occurs, possibly triggered by external factors like inflation data or changes in Federal Reserve policies.
Looking ahead, there's a general expectation that Bitcoin could experience a major bull run as we approach the end of the year, with some forecasts even suggesting a new all-time high in the coming years, potentially reaching as high as $200,000 by late 2025.
