BTC price upside makes a confident return as chart analysis sees fresh odds of Bitcoin hitting $100,000 after all.
Bitcoin Analysis news
Bitcoin price rallied over 58% since May, when the M2 money supply turned positive year-over-year for the first time since November 2023.
Analysts are eyeing a 20–30% Bitcoin correction before the world’s first cryptocurrency breaches the $100,000 mark.
On the yearly chart, Bitcoin rose 146% while MicroStrategy gained over 599% as more retail investment increased MicroStrategy’s volatility compared to BTC.
The growing network activity is a promising sign for Bitcoin’s battle toward the historic $100,000 mark, which was just $200 away on Nov. 22.
Onchain data reveals that ETF flows haven’t been the primary causes of sell pressure for Bitcoin.
Bitcoin’s price action has historically benefited from economic concerns and issues in the banking industry.
Van Eck says BTC can reach a price of $180,000 this cycle but warned that elevated funding rates could be showing early signs of “overheating.”
The Bitcoin price started falling 30 minutes before the options expiry, but market watchers don’t expect significant downside.
Bitcoin’s record monthly gains come eight days before the end of November — historically the most bullish month for Bitcoin returns.