Earlier today, the price of Bitcoin reached an intraday high of $98,481 before paring some gains.
Bulls are persistently trying to reclaim $100,000 after recovering from a sharp drop to the $91,000 level on Dec. 30.
DonAlt, a popular pseudonymous trader with nearly 650,000 followers on the X social media network, recently noted that Bitcoin had "an excellent" week. However, he also cautioned traders that the cryptocurrency had approached a rather "dangerous level." "Break it and we'll send everything. I'd like to see it broken before getting too euphoric though," he said.
HOT Stories Ripple USD (RLUSD) Surges 2,000% in Key Metric Massive 2,133% SHIB Burn Jump Followed by Surprising 10% SHIB Rise Ripple CEO's 2025 Crypto Prediction: What to Expect MSTR Targets $2 Billion Capital Raise to Buy Bitcoin in Q1, 2025: Michael Saylor
As reported by U.Today, some analysts also warned traders about Bitcoins' weakening momentum based on the diminishing trading volume. Bitcoin would need a high volume for the bulls to pull off another major rally.
Bitcoin peaked at $108,364 on Dec. 17 on the Bitstamp exchange before seeing a 16% correction.
Related
Thu, 01/02/2025 - 19:52 'Rich Dad Poor Dad' Author Unveils Stunningly High Bitcoin Price Target for 2025
Alex Dovbnya
While corrections of this size are considered to be normal during a bull market, they still raise some concerns about the possibility of a sharp trend reversal.
Bitcoin bulls suffered a significant blow after the U.S. Federal Reserve adopted a more hawkish tone and indicated that it would implement fewer rate cuts.
Moreover, the leading cryptocurrency recorded the "shooting star" candlestick on its monthly chart, which can be interpreted as a bearish sign for bulls. Such candles were previously followed by major price corrections.
Yet, despite some possible bearish headwinds, Bitcoin is vastly expected to outperform this year by various pundits. For instance, Anthony Scaramucci of SkyBridge Capital has predicted that it could surge to as high as $250,000 in 2025.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
