Top Bitcoin (BTC) Predictions as the Price Approaches $100K
TL;DR
- Popular analysts see momentum building for a BTC breakout, with short-term targets ranging from $104.5K to $108K.
- Positive net inflows into spot Bitcoin ETFs and declining exchange balances signal strong investor confidence, but the RSI breached 70, which could be a precursor of an incoming correction.
What Are the Next Targets?
The primary cryptocurrency has been on a serious uptrend lately, with its price currently standing just south of the psychological mark of $100,000. That said, it’s hard to believe that nearly a month ago, it briefly tumbled below $75,000, but after all, such fluctuations are quite common in the crypto world.
Bitcoin’s latest rally (and that of the entire digital asset market) was likely fueled by US President Donald Trump, who teased a “major trade deal” with a “respected country.” The price jump also came shortly after the FOMC meeting, during which the US Federal Reserve kept interest rates unchanged at 4.25%- 4.50%.
Bitcoin’s pump toward $100K has sparked fresh optimism among analysts, with many envisioning more room for growth in the short term. X user Rekt Capital thinks the asset needs to stay above $98,700 “for the retest of the week to position itself for a breakout towards $104.5K.”
For their part, CRYPTOWZRD predicted that a push beyond $100,000 can trigger further upside pressure to as high as $108,000.
“On the other hand, any geopolitical shift with China can cause extreme volatility, where $91,500 will be the main daily support target from a worsening situation,” they warned.
Crypto Yoddha and Merlijn The Trader also gave their two cents. The former believes BTC is about to break a long-term range high resistance, which could fuel an ascent towards a new ATH of roughly $140,000.
Merlijn The Trader did not set an exact price target, simply forecasting that the asset “is ready to detonate.” He based the potential scenario on the “perfect rising channel” and “momentum building.”
The Signals From the Indicators
In addition to the bullish forecasts mentioned above, some important metrics hint that BTC’s rally is nowhere near its end.
Data compiled by SoSoValue shows that the daily total net inflows into spot Bitcoin ETFs have been positive on most days in the past few weeks. This means that more capital is entering these funds than exiting, signaling growing investor confidence and the asset’s growing appeal as an investment choice.
On the other hand, BTC’s exchange netflow has been negative in the last several days, reflecting a shift from centralized platforms towards self-custody methods. This is generally considered a bullish factor since it reduces the immediate selling pressure.
Still, not all indicators suggest a continued upswing. The Relative Strength Index (RSI), which measures the speed and magnitude of the latest price changes, has surged past 70. Readings above that level are interpreted as bearish since they indicate the asset might have entered overbought territory and could be due for a pullback.
The post Top Bitcoin (BTC) Predictions as the Price Approaches $100K appeared first on CryptoPotato.
