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Tag: Price

  • Weekly price analysis: prices range on uncertain economic outlook

    Weekly price analysis: prices range on uncertain economic outlook

    • Crypto prices traded within a range last week as crypto takes is relegated to the back burner in the wake of economic uncertainties
    • Exchange-traded fund (ETF) inflows were negative as Bitcoin ETFs logged net outflows of $62.9 million while Ethereum ETFs logged $8.9 million in outflows

    Bitcoin

    Bitcoin’s price action continued trading rangebound, with weekly highs and lows of $99,509 and $93,331, as uncertainty looms around inflation, US President Donald Trump’s policies, and geopolitical events.

    Zooming out, we see that price action has ranged at the daily support level for the last three weeks as current market conditions lack sufficient catalyst to push prices to new highs.

    BTC/USD chart by TradingView

    Open interest mimics price action as the week began with a reduction in the volume of open contracts which picked up on Wednesday, February 19, congruent with price action.

    CME BTC Futures Open Interest (USD) chart by Coinglass

    Outlook

    Bitcoin must remain above the daily support of $90,673 to remain in bullish territory. A close below this level on the daily time frame could trigger a fall to the $84,000 level.

    Meanwhile, market sentiment has cooled significantly over the last month and is in neutral territory.

    Bitcoin trades at $87,900 as of publishing.

    Ethereum

    Ethereum’s price action ranged last week logging a weekly high and low of $2,848 and $2,604 despite last week’s news of the Bybit hack.

    ETH/USD chart by TradingView

    Zooming out, we see a bleaker picture as ETH has been trending lower since December 09 after failing to break above its March 2024 high.

    ETH/USD chart by TradingView

    Open interest data shows a steady rise in contract volume throughout the week though price traded rangebound.

    Binance ETH Futures Open Interest (USD) chart by Coinglass

    Outlook

    We reckon the next major support zone for ETH is the $2,500 level which has proven to be a strong liquidity level in the past.

    ETH/USD chart by TradingView

    ETH trades at $2,384 as of publishing.

    Solana

    Like Ethereum, Solana’s price has been declining since it failed to swing higher and form new candles above the last all-time high on the daily time frame.

    SOL/USD chart by TradingView

    Unlike Ethereum, last week’s price action was bearish as the price fell from a weekly open around $194 to a close around $171.

    SOL/USD chart by TradingView

    Open interest charts show topsy-turvy movement in open contract volumes as the price falls.

    Binance SOL Futures Open Interest (USD) chart by Coinglass

    Outlook

    The next major support zone for Solana is at the $129 level. However, we may see smaller rallies as price trends lower overall.

    SOL/USD chart by TradingView
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  • The Fed is expected to cut interest rates twice in 2025, what might this mean for the Bitcoin price?

    The Fed is expected to cut interest rates twice in 2025, what might this mean for the Bitcoin price?

    The cryptocurrency market has gone mainstream. It is no longer retail investors’ assets as institutions globally are investing in Bitcoin and other major cryptocurrencies. 

    As a risk-based asset, Bitcoin’s price is affected by central bank policies, especially those from the United States Federal Reserve.

    Bitcoin’s rally in 2024 and connections with rate cut

    The cryptocurrency market was bullish in 2024, with the Bitcoin price surging by over 100%. The rally allowed Bitcoin to rally to an all-time high above $100k. A key catalyst to Bitcoin’s surge last year was the multiple rate cuts by the Federal Reserve.

    In 2024, the Fed cut rates three times, bringing it down to the target range of 4.25%-4.50%. Before then, the rate had been on a lofty plateau of 5.25%-5.50% since July 2023.

    The reduced interest rates affected Bitcoin’s price, allowing it to hit the $100k mark for the first time in its history. When interest rates are high, the cost of borrowing money is high. Higher interest rates decrease the liquidity in financial markets, providing more capital for less risky investments like bonds.

    However, lower interest rates increase the liquidity in financial markets, with investors opting to push money into riskier assets like Bitcoin. 

    Fed kept interest rates steady in January

    Bitcoin reached an all-time high price of $109,410 on January 20 as the market reacted to Trump assuming office. However, it has since lost 11% of its value and now trades just above $97k.

    A key factor in the poor market performance in the past few weeks was the Fed’s decision to hold interest rates steady. On January 29th, the Fed announced that the borrowing rate remained between 4.25% and 4.5%.

    Leaving the rate unchanged affected Bitcoin’s price as it has failed to rally to a new all-time high. It has also struggled to stay above $100k since the start of February. 

    Fed to cut interest rate twice in 2025

    The first FOMC meeting of 2025 saw the Fed leave the interest rate unchanged. The United States Fed is expected to cut rates twice before the end of the year. However, this decision will be affected by inflation levels.

    If the inflation levels rise sharply, the Fed will increase interest rates to curb the rising inflation. However, if inflation levels decline, the Fed will cut interest rates to stimulate the economy. 

    The CPI report earlier today, February 12th, revealed that inflation in the United States rose to 3%, its highest level since June 2024. The rising inflation could hamper possible interest rate cuts, with the news sending Bitcoin to the $94k level earlier today.

    Market analysts expect the Fed will lower rates twice this year, reaching 3.75%-4.00% by the end of 2025. However, the range of forecasts is wide, from a low of 3.00%-3.25% and a high of 4.50%-4.75%.

    Thanks to the expected rate cuts and other macroeconomic factors, analysts are optimistic Bitcoin’s price could reach a new all-time high. While predictions differ, most analysts are optimistic BTC’s price could hit between $150k-$200k before the end of the year.

    In addition to the expected lower interest rates, increased retail and institutional adoption could positively affect Bitcoin’s price in the coming months. Strategy (formerly MicroStrategy) continues to increase its exposure to Bitcoin while more companies are buying BlackRock’s spot Bitcoin ETF. 

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  • Weekly price analysis: crypto prices reel from risk off sentiments

    Weekly price analysis: crypto prices reel from risk off sentiments

    • The crypto market trended lower last week as US tariffs rocked the market, causing investors to flee to safe-haven assets like Gold
    • Crypto prices, which recovered slightly on Monday and Tuesday, continued trending downward as uncertainty looms
    • Meanwhile, spot ETF inflows remained positive despite some days of outflows

    Bitcoin

    Bitcoin’s price trended lower over the last week following US President Donald Trump’s announcement of tariffs on Canada, Mexico, and China. Investors fled to safe-haven assets like gold while risky assets, like crypto, trended lower.

    However, the tariffs are a catalyst for faster price declines as price action shows that Bitcoin was already on a decline in its substructure after failing to swing higher than the $108,000 level three weeks ago.

    BTC/USD chart by TradingView

    BTC made two consecutive lower lows on the substructure over the last two weeks and traded into the daily demand zone early last week, logging a weekly low of $91,176.94.

    After buying from the demand zone, the price rose to an internal supply zone at $102,000, validated by the 50% Fibonacci level, and sold off that zone to end the week at $96,475.03.

    BTC/USD chart by TradingView

    On the CME, where Bitcoin Futures are traded the most, open interest fell last week as traders closed contracts due to uncertainty caused by Trump’s tariffs.

    Meanwhile, spot BTC ETFs logged a positive week as net flows printed $208.30 million despite two days of major outflows.

    Price Outlook

    Provided the price remains above the demand zone on the daily timeframe, then Bitcoin’s overall structure should remain bullish despite price declines on the substructure.

    However, a daily close below the demand zone, i.e., below the $90,000 level, may trigger a sell-off to support levels around $84,000 or lower.

     

    BTC trades at $97,624.73 as of publishing.

    Ethereum

    After failing to break above March 2024 highs, Ethereum’s price has been on a downtrend on its substructure since mid-December 2024.

    On the 4-hour time frame, the price logged consecutive lower lows with the most recent low of $2,148.00 reached early last week. Price has improved since then, closing last week at $2,632.16.

    Open interest on Binance, where Ethereum Futures are traded the most, shows a decline in the number of open contracts, which could be another catalyst for price declines.

    Meanwhile, spot ETH ETFs logged positive inflows on all days last week, aside from Friday when it logged no inflows (or outflows), totalling $420.20Mn for the week.

    Price Outlook

    The next probable zone for ETH’s price to fall is a major support zone around $2,200. With Trump planning to impose a 25% tariff on steel and Aluminum as well as a fresh round of retaliatory tariffs against trade partners, more uncertainty could push ETH’s price there soon.

    ETH trades at $2,640.05 as of publishing.

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  • Bitcoin price prediction 2025 – Will institutional inflow drive growth?

    Bitcoin price prediction 2025 – Will institutional inflow drive growth?

    The cryptocurrency market was bullish in 2024. Bitcoin, the leading cryptocurrency by market cap, added over 140% to its value last year, outperforming other major assets, including Gold (26%) and S&P 500 (23%). 

    Last year’s rally saw Bitcoin break past the $100k mark for the first time in its history. This article will explore Bitcoin’s price performance so far this year and how far it can go. 

    Bitcoin Hit a New All-time High on Jan. 20

    New year, same Bitcoin. The leading cryptocurrency by market cap continued where it left off in 2024. The Bitcoin price surged to a new all-time high on January 20th after hitting the $109,114 mark. 

    The market has been volatile since then, with BTC slipping below $98k on Monday, January 27th. However, it has since recovered and now trades above $102k per coin. If the bullish momentum resumes, Bitcoin could set a new all-time high in the coming weeks or months. 

    How High Can Bitcoin Go?

    Bitcoin has already set a new all-time high in 2025, but many analysts believe it could go higher in the coming months. The predictions differ, ranging from $150,000 to $250,000.

    However, some macroeconomic factors could determine how high Bitcoin’s price could go in 2025. Here are the factors.

    inflation/ Interest rate

    The inflation and interest rates in the United States usually play a huge role in the Bitcoin price outlook. A low inflation rate will see the Federal Reserve decrease interest rates to stimulate the economy and try to raise inflation levels to their target range. The lower the interest rates, the higher the price of assets like Bitcoin and Gold. 

    The Federal Reserve is expected to cut interest rates twice in 2025, which could be bullish for Bitcoin and other major assets.

    Retail and Institutional Adoption

    2024 saw significant liquidity from institutional investors into Bitcoin and the trend could continue this year. Michael Saylors’ MicroStrategy leads the way and has already spent billions of dollars this year in adding bitcoins to its holdings.

    Thanks to the launch of Bitcoin ETFs last year, more players are also getting into Bitcoin. BlackRock’s ETF, now the fastest-growing in history, has simplified access for institutional investors. The growing participation indicates Bitcoin’s appeal to retail and institutional players. 

    A Possible U.S. Strategic Reserve

    There are talks of a possible digital assets strategic reserve in the United States. Donald Trump’s activeness in the crypto space in recent months has amplified this prediction.

    If the United States launches a digital assets reserve with Bitcoin at the helm, BTC’s price could surpass the $200k average prediction in 2025. 

    Top Analysts Forecasts

    Bitcoin has gone mainstream, so several leading analysts in the global financial markets are focusing on it. Some of these analysts shared their predictions for the Bitcoin price in 2025. 

    Markus Thielen, head of research at Matrixport, is bullish on BTC’s price prediction, setting it at $160,000 before the end of the year. He told CNBC that,

    “This outlook is supported by sustained demand for Bitcoin ETFs, favorable macroeconomic trends, and an expanding global liquidity pool. Bitcoin’s growing base of dip buyers and robust institutional support is expected to mitigate severe corrections.”

    Alex Thorn, head of research at crypto-focused asset manager Galaxy Digital, is also bullish, predicting BTC’s price to hit $185k in 2025. He said,

    “A combination of institutional, corporate, and nation-state adoption will propel Bitcoin to new heights in 2025. Throughout its existence, Bitcoin has appreciated faster than all other asset classes, particularly the S&P 500 and gold, and that trend will continue in 2025. Bitcoin will also reach 20% of Gold’s market cap.”

    Finally, Geoffrey Kendrick of Standard Chartered expects institutional flows into Bitcoin to continue, predicting Bitcoin’s price could hit $200,000 in 2025. He stated that,

    “Even a small allocation of the USD 40tn in US retirement funds would significantly boost BTC prices. We would turn even more bullish if BTC saw more rapid uptake by US retirement funds, global sovereign wealth funds (SWFs), or a potential US strategic reserve fund.”

    Bitcoin has already hit a new all-time high in 2025. Do you see it going higher or do you predict a market correction in the coming months?

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  • Here’s why OKB price spiked 20% today

    Here’s why OKB price spiked 20% today

    • OKB token surged more than 20% to hit highs of $61.29 on Jan. 17.
    • The altcoin, native to the OKX exchange, rose as the community reacted to news around Azuki’s Animecoin (ANIME).

    OKB registered a price surge 20% higher. The price surge follows OKX adopting OKB as the primary token for mining Animecoin which is their maiden project aimed at revolutionizing the Anime industry.

    On Friday Jan 17, the price of OKB, the native token of the OKX ecosystem rose by 20% posting a high of $58.86. This came after the crypto platform chose it as the primary token for mining Animecoin (ANIME), the Azuki backed token.

    OKX Jumpstart and ANIME tokens

    The OKX Jumpstart staking program  is set to begin mining Animecoin on Jan 20. The OKB users can stake their OKB and BTC tokens to gain Anime tokens.

    The program will run from Jan 20 to Jan 23.

    While there is no minimum limit for staking for the holders of OKB and BTC tokens, maximum staking limit is set at 600 OKB and 0.3 BTC ($30,000). Staking and unstaking is permissible at any given time.

    Of the 10 billion total token reserve, a share will go to the active participants in the OKX Jumpstart event. 50.5% of the total supply will be apportioned to the community. 37.5% of the token will go to the Azuki community who are the very first supporters of Animecoin while Community Cultivation which is held by future AnimeDao will get 13%. The 13% will be used as community incentives and initiatives.

    Partner communities will also get 2% share.

    The Anime token Listing

    The Anime token is set for listing on both the Ethereum and Arbitrum platforms on Jan 23. Sources indicate that the token will stir up great following among the Anime users,its creators and revolutinize the the anime ecosystem to a great deal.

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  • Bitcoin price drop caused by profit-taking and macroeconomic conditions

    Bitcoin price drop caused by profit-taking and macroeconomic conditions

    BTC drops below $70k
    • Bitcoin dropped to $89,900 on January 13, its lowest decline in two months
    • James Toledano, COO at Unity Wallet, said one of the reasons for the drop is profit-taking after Bitcoin hit $108,000 in mid-December
    • The inauguration of President-elect Donald Trump could spark renewed buying interest, Toledano said

    Bitcoin fell below $90,000 for the first time in two months, dropping 3.6% in 24 hours as the market experienced selling pressure.

    Data from CoinMarketCap shows that Bitcoin’s price dropped to around $89,900 on January 13. However, at the time of publication, it’s trading over $95,000.

    Bitcoin drops below $89,000. Source: CoinMarketCap

    According to James Toledano, COO at Unity Wallet, there are several reasons why Bitcoin’s price fell.

    “The first is profit-taking, after hitting a peak of around $108,300 in mid-December, the market has seen a massive amount of it, particularly following the election of pro-crypto President-elect Donald Trump,” he said to CoinJournal, adding:

    “Secondly, while institutional buying has continued contributing to Bitcoin reserves on exchanges hitting a seven-year low, trading volume remains subdued and this could simply be down to a seasonal slow-down.”

    Macroeconomics weigh on the market

    Recent analysis suggests that bleak economic expectations drive this bearish sentiment. This includes Trump’s tariff plans, the US Federal Reserve’s cautious approach to interest rate cuts, and a strong dollar.

    Zach Pandl, head of research at Grayscale Investments, said to CNBC that:

    “I would attribute the drawdown in the last two days largely to the market starting to appreciate that not every aspect of the Trump policy agenda is going to be positive for Bitcoin – and tariffs do introduce some new uncertainty.”

    As questions surround Trump’s forthcoming policies, it may have dampened enthusiasm, which can “lead to short-term volatility for an already highly volatile asset,” said Toledano.

    Some analysts believe Bitcoin can reach between $140,000 and $200,000 by mid-2025, so the current price action may appear concerning. Yet, it doesn’t necessarily signal the end of the bull run.

    “The inauguration of President-elect Trump is just seven days away and could be a pivotal moment, with markets anticipating announcements of pro-crypto policies that might spark renewed buying interest,” said Toledano. “Institutional accumulation, as reflected in falling exchange reserves also supports the view that demand remains strong despite low trading volumes.”

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  • Weekly price analysis: prices decline on risk-off sentiments

    Weekly price analysis: prices decline on risk-off sentiments

    • The crypto market trended lower last week, driven largely by risk-off sentiments on newly released Fed meeting notes and economic data
    • The Fed expressed caution around inflation, especially as President-elect Donald Trump’s policies will kick in after his inauguration on January 20
    • Meanwhile, spot crypto exchange-traded funds (ETFs) logged outflows from Wednesday, January 8

    Bitcoin

    Bitcoin’s price logged a negative week falling from a high of $102,733 to a low of $91,188 before eventually closing at $94,547.

    Technical analysis shows a break above the last lower high and a push back down into the H4 demand zone, which means that although the price took a bearish turn, it is still in overall bullish territory.

    BTC/USD Chart by TradingView

    Much of this bearish sentiment is driven by bleak economic expectations. The US Federal Reserve meeting minutes, released on January 8, showed that the reserve bank is cautious about inflation it expects will follow President-elect Donald Trump’s policies.

    As such, the likelihood of continued rate cuts has dwindled, with some analysts seeing an end to cuts early this year. The market’s reaction reflects this updated risk-off sentiment.

    Bitcoin’s open interest chart shows a decline in open contracts between Wednesday and now. Open interest hit a weekly high on Tuesday at $18.16 billion on the CME, fell to a low on Thursday ($16.55 billion), and mellowed out the rest of the week.

    CME BTC Futures Open Interest (USD) Chart by Coinglass

    Meanwhile, spot Bitcoin ETFs logged outflows after the release of the Fed’s meeting minutes on Wednesday. Outflows totalled $718.20 million while inflows totalled $1.03 billion.

    Outlook

    Bitcoin’s price currently hovers around the bottom of the demand zone. If it breaks below, its price could be pushed down to $85,100 where a fair value gap could act as support.

    BTC/USD Chart by TradingView

    BTC trades at $91,622 as of publishing.

    Ethereum

    Ethereum’s price also logged a negative week, falling from a high of $3,744 to a low of $3,157 before closing at $3,236. ETH price action tested March 2024’s high of $4,089  in early December 2024, but failed to break above and has been logging lower lows since.

    ETH/USD Chart by TradingView

    Open interest dropped from a January 7 high of $3.50 billion and continued to decline until it was $2.63 billion as of this publication.

    CME ETH Futures Open Interest (USD) Chart by Coinglass

    Meanwhile, Ethereum spot ETFs logged a weekly net outflow of $186.00 million following risk-off sentiments in the market.

    Outlook

    As Ethereum’s price continues to trend lower, the next technical level that could provide support is the fair value gap at the $2,893 price level.

    ETH trades at $3,071 as of publishing.

    Solana

    Solana’s price fell from a weekly high of $223 to a weekly low of $181 before eventually closing at $188, logging a total loss of 12.53%. SOL continues to trend lower after failing to close above its all-time high of $260.

    Open interest data shows a steep fall from $1.89Bn on Binance on Jan. 7 to $1.58Bn on Jan. 10. As of this publication, OI levels have improved to $1.63Bn.

    Outlook

    The next technical support zone is at the $164 price level. However, although the order block is a support, it is a poor low that could be taken out even if price reverses from that zone.

    SOL trades at $176 as of publishing.

    Ripple

    Ripple’s price fared better last week, closing higher at $2.55 from $2.38 at the start of the week as price continued to log higher highs. Zooming out, the price continues to range between $1.90 and $2.90 as the market cools.

    Open interest rose on Bitget, the exchange with the highest XRP derivative trading volume, over the last week, supporting upward price movement as positive news around Ripple’s case with the SEC boosted sentiments.

    Outlook

    Ripple’s price is buoyed by news around the SEC’s lawsuit against its parent company, a case which could be thrown out with the outgoing administration.

    However, technical analysis shows that XRP trades at a premium and a pullback is expected. The most likely levels are the fair value gap at $1.75 and the order block at $1.46.

    XRP trades at $2.37 as of publishing.

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  • Bitcoin price analysis: economic headwinds push price lower

    Bitcoin price analysis: economic headwinds push price lower

    • Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted
    • Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern
    • Spot crypto ETFs logged large outflows on Wednesday following the release of the Fed meeting notes

    Bitcoin’s price has fallen from a high of $102,667 reached on Tuesday, January 7 to $94,890.00 as of publishing, but remains within the last H4 demand zone.

    BTC/USD Chart by Trading View

    While the demand zone between $92,000 and $97,000 may be the last support level on the H4 timeframe, a broader market view shows that BTC is in a premium zone on the daily timeframe. As a result, a push below $92,000 still puts the price in bullish territory.

    BTC/USD Chart by TradingView

    The best technical buy levels would either be at the last break of structure on the daily timeframe or at the 50% Fibonacci level from the lowest point to the break.

    BTC/USD Chart by TradingView

    There are two fair value gaps from which the price could react. While they are not major zones, they could support a continuation back to the external high at $108,000 or a brief relief rally before continued sell to the first probable support zone as noted in a recent TradingView analysis of BTC.

    BTC/USD Chart by TradingView

    This is all predicated on Bitcoin breaking below the $91,000 level.

    Meanwhile, spot crypto ETFs recorded outflows on Wednesday, January 9 after the release of the US Federal Reserve’s meeting minutes. These showed that the Fed is cautious about inflation and the effects of Trump’s incoming policies.

    BTC ETFs bled $568.8 million on Wednesday while ETH ETFs lost $159.4 million with the biggest outflows from Fidelity ($258.7 million for BTC and $147.7 million for ETH).

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  • iDEGEN price prediction: Is this the AI agent token to buy?

    iDEGEN price prediction: Is this the AI agent token to buy?

    Multiple small cap cryptocurrencies are witnessing notable price gains as profit taking cools for the major coins.

    Zerebro and Goateus Maximus rank as two of the biggest daily gainers as Bitcoin regains support above $94k. As traders eye potential bullish momentum in the coming months, what’s the price prediction for AI agent token iDEGEN?

    Will it explode to surpass sector rivals ai16z, ZEREBRO and GOAT? Is the outlook for Bitcoin key?

    What next for Bitcoin and altcoins?

    The overall sentiment remains bullish, but immediate action for most altcoins is slightly bearish. Analysts looking at Bitcoin and the altcoin market suggest the bull market correction may yet extend. For Bitcoin for instance, bulls may have to defend the $90k-$85k area if bears establish control short term.

    Ran Neuner, crypto trader and founder of Crypto Banter, has pointed to the Crypto Fear & Greed Index. He shared via X:

    “Corrections are a function of a change in sentiment from exuberance to fear. In every bull market correction the fear and greed drops by at least 40 points! I think the high was around 92 and we are at 65 now.”

    Notably, the market sentiment analysis tool shows “greed.”

    How is iDEGEN unique?

    What sets iDEGEN apart and a factor to its massive traction in the past month is its innovative blend of artificial intelligence and meme culture.

    The project taps into advanced AI agent technology but instead of feeding it pre-configured or knowledge, the team threw a blank slate AI to the world for training. There are no guardrails or limits to what iDEGEN can learn or become.

    Specifically, iDEGEN is degen raised, with every morsel of alpha or chaotic spew learned on X.

    Over the past month, the project has learned and posted every hour, evolving amid increased interaction with the crypto degens. Taking the community-driven approach looks to have appealed to the greater crypto market, with the explosive run to over $11 million in premarket auction a pointer to this.

    iDEGEN price prediction

    In recent weeks, ai16z, Zerebro and aixbt have rallied hard as analysts predict the sector will lead the market in 2025. This outlook makes the native iDEGEN token IDGN one to watch as it hits the market.

    Given, iDEGEN has reached over $11 million in premarket auction, hitting the milestone ahead of the token’s listing on crypto exchanges. However, the token’s value amid the dynamic pricing model has the price poised at $0.318.

    With the final value set for a 10% bump on listing debut, it could be much higher when it hits the market.

    Need to learn more about iDEGEN? Visit the official website here.

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  • Bitfinex: Bitcoin could hit $200k by mid-2025 with mild price corrections

    Bitfinex: Bitcoin could hit $200k by mid-2025 with mild price corrections

    Bitcoin green
    • Bitfinex analysts believe Bitcoin could reach between $140,000 – $200,000 by mid-2025
    • “Consistent buying pressure” with ETFs will see future Bitcoin price correction “shorter in duration”
    • If Bitcoin follows the 2021 cycle, it has the potential to reach $339,000

    Bitcoin could surge to $200,000 under “favorable conditions,” according to a new report from Bitfinex analysts.

    In its Bitfinex Alpha report, published on December 16, analysts noted that Bitcoin has achieved unprecedented milestones in 2024, surpassing a $2 trillion market capitalization and reaching a new all-time high of above $100,000.

    The analysts added that Bitcoin exchange-traded funds (ETFs) have emerged as a dominant force, with US spot ETF inflows reaching $35.5 billion.

    “Looking ahead, we believe the current run-up to over $100,000 has captured a significant portion of Bitcoin’s price appreciation for this cycle,” the analysts wrote. “Our minimum price target for Bitcoin remains at $140,000 – $200,000 around mid-2025.”

    Bullish movement post-halving

    Looking to 2025, the analysts believe that any corrections will “remain mild, thanks to institutional inflows.” They also point out that as 2024 was a halving year for Bitcoin, “historically the following year post halving has been bullish.”

    “In previous cycles, once Bitcoin entered price discovery following a halving, corrections before mean reversion to new ATHs were relatively contained,” the analysts wrote. “In the 2017 cycle, the maximum correction was 33.2 percent, while the 2020 cycle saw a slightly smaller correction of 27.1 percent.”

    According to Bitfinex, Bitcoin’s current bull cycle, which started in mid-to-late 2023, the asset’s corrections have been smaller since the launch of Bitcoin ETFs in January. Analysts believe that with “consistent buying pressure,” future corrections will be “limited and potentially shorter in duration.”

    Bitcoin at $339,000?

    Bitfinex predicts Bitcoin’s price could peak at $339,000, if it follows the pattern of the 2021 cycle; however, if it follows the 2017 cycle with diminishing returns, Bitcoin could hit around $290,000 by 2026.

    At the time of publishing, Bitcoin is trading under $104,000, according to data from CoinMarketCap. Yesterday, the crypto asset reached a new all-time high of above $108,000.

    Market sentiment has surged since President-elect Donald Trump won the US election in November. Since then, Trump has appointment several pro-crypto candidates in the run up to his administration entering the White House in January.

    Earlier this month, Trump named pro-crypto Paul Atkins as the next Chair of the US Securities and Exchange Commission (SEC). He’ll take over from current Chair Gary Gensler who’s stepping down on January 20.

    Trump also has Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy leading the Department of Government Efficiency (DOGE) to “dismantle government bureaucracy.” Meanwhile, David Sacks will be the lead policy advisor on artificial intelligence and crypto.

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