Bitcoin (BTC) has been hovering just below the crucial $100,000 mark for over a week, sparking discussions among crypto analysts about its next major move. According to Dr. Sean Dawson, Head of Research at Derive, there is an almost 50% chance that Bitcoin could surge to $125,000 by late June, with the odds improving to 44.4% from 41.9% in recent reports.
Despite the optimism, Bitcoin’s price action has been far from predictable. At the time of publication, Bitcoin was trading around $96,790, still shy of the psychological $100,000 level it last breached in December. While some analysts, like Dawson, are bullish on the potential for further growth, others remain cautious. The likelihood of Bitcoin touching $75,000 before June, for instance, has decreased to just 12.1%, down from 17.8%, signaling a diminishing risk of a significant downturn.
However, not all experts share Dawson’s upbeat outlook. BitMEX co-founder Arthur Hayes has a more bearish perspective, suggesting that Bitcoin could see a pullback to the $70,000-$75,000 range. Hayes also warned that such a move might trigger a “mini financial crisis,” although this view has yet to materialize in the market.
Bitcoin’s last trade near $75,000 occurred just days after Donald Trump’s election victory in November, which many attribute as a catalyst for the rally that followed. Yet, Bitcoin briefly reached a new all-time high of $109,000 in January, a price level it has yet to sustain as it continues to trade below $100,000 since February 7.
Market sentiment currently remains neutral, as reflected by the Crypto Fear & Greed Index, which scored 48 out of 100 on February 14. Crypto trader Jelle suggested that Bitcoin’s price could continue to fluctuate in “choppy conditions” until it reclaims the $100,000 threshold.
Rounded bottom structure still ongoing, with #Bitcoin forming a higher low.
— Jelle (@CryptoJelleNL) February 13, 2025
Still not really interested in the market much with price below $100,000.
Reclaim that and the fun can resume.
Assuming choppy conditions until then. https://t.co/7FZv7nYDRs pic.twitter.com/9DU953Cv2q
Looking ahead, asset manager VanEck predicts that Bitcoin’s bull market will hit a “medium-term peak” in Q1 2025, with Bitcoin potentially reaching $180,000 and Ethereum surpassing $6,000 by the cycle’s apex. The road to $125,000 remains unclear, but Bitcoin enthusiasts are closely watching its next moves as the year progresses.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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