A naukri.com initiative
Blockonomi
3w
307
Image Credit: Blockonomi
Bitcoin (BTC) Price: Analysis Shows Potential Recovery to $123,000 by June 2025
- Bitcoin is currently trading around $85,880, experiencing a 3.16% decrease over the past month but showing a 10% recovery since dropping below $80,000 in March.
- Analyst Jamie Coutts predicts a potential Bitcoin price surge to $123,000 by June 2025, driven by improving financial conditions and weakening US dollar.
- Polymarket data suggests Bitcoin could reach $138,617 by the end of 2025, indicating a 60% increase from the current price.
- Bitcoin options worth $16.5 billion expire on March 28, likely impacting short-term price movements.
- Technical analysis points towards Bitcoin testing key resistance levels at around $88,000 and potentially retesting its all-time high of $109,000.
- Financial institutions have varied forecasts for Bitcoin, with predictions ranging from $100,000 to $250,000 by the end of 2025.
- Bitcoin investors are monitoring the upcoming record-breaking monthly options expiry on March 28, with open interest focusing on $86,500 and $90,000 levels.
- Despite market uncertainties, Bitcoin bulls anticipate decoupling from stock markets and potential growth in a recessionary macro environment.
- CryptoQuant's Bull Score Index indicates a weak Bitcoin market, with low chances of a significant rally in the near future.
- Watching the $88,000 resistance level and the outcome of the March 28 options expiry will provide insights into Bitcoin's short-term trajectory.
Read Full Article
18 Likes
For uninterrupted reading, download the app