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Bitcoin’s Path: Analysts Eye $120K, $175K, and Beyond

Bitcoin’s recent surge above $100K sparks bullish predictions, with potential targets ranging from $120K to $450K in this cycle.

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Joe G & Money Talks
January 07, 2025 • Estimated Reading Time: 7 minutes

What we will talk about today...

Bitcoin Traders Eye $138K as Coinbase Premium Turns Positive

Bitcoin Soars Past $100K After MicroStrategy's Latest Purchase

Bitcoin’s Path: Analysts Eye $120K, $175K, and Beyond

Bitcoin Traders Eye $138K as Coinbase Premium Turns Positive

Bitcoin's return to a six-figure price sparks bullish predictions, with analysts targeting $138K or higher in the coming months as market indicators strengthen.

  • Main Points:

    • Price Surge: Bitcoin is up 8.5% in 2025, closing above $100K for six days.

    • Analyst Projections: Targets include $138K by February and $200K in extended cycles.

    • Coinbase Premium: The premium hits breakeven, signaling renewed U.S. investor confidence.

    • Retail Activity Drops: Low transaction volumes suggest diminished retail interest but potential long-term buying opportunities.

    • Key Inflection Point: $100K remains a crucial support level for bullish momentum.

  • Detailed Insights:

    • Cycle Similarities: BTC may emulate 2017's minimal drawdowns rather than 2021's halts.

    • Institutional Sentiment: Positive shift in U.S. and institutional participation after recent selling.

    • Retail Opportunity: Decreased volumes below $10K highlight an ideal entry for long-term investors.

    • Technical Breakout: A bullish structure break above $97K strengthens upward momentum.

    • Resistance Levels: Sustained support above $99K is critical for continued rallying.

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Bitcoin Soars Past $100K After MicroStrategy's Latest Purchase

Bitcoin hits $101,000 following MicroStrategy's recent acquisition of 1,070 BTC, reversing previous post-purchase declines.

  • Main Points:

    • Bitcoin Rally: BTC climbs to $101,000, a new yearly high.

    • MicroStrategy’s Impact: A modest purchase of 1,070 BTC for $101M sparks bullish momentum.

    • Trend Shift: Unlike previous acquisitions, this announcement led to a price surge.

    • Future Plans: MicroStrategy plans to raise $2B for further BTC acquisitions.

  • Detailed Insights:

    • Quick Reaction: BTC rose from $98K to $101K within an hour of MicroStrategy’s announcement.

    • Smaller Purchase: The acquisition averaged $94,004 per BTC, contrasting with earlier billion-dollar buys.

    • Market Shift: Previous purchases caused dips; this time, a bullish reaction followed.

    • Sustained Optimism: MicroStrategy’s ongoing investment strategy continues to fuel market confidence.

₿itcoin reached $101,639. +2.78%

♢Ethereum reached $3,656.  +0.54%

Bitcoin’s Path: Analysts Eye $120K, $175K, and Beyond

Bitcoin’s recent surge above $100K sparks bullish predictions, with potential targets ranging from $120K to $450K in this cycle.

  • Main Points:

    • Recent Surge: Bitcoin rises 11.8%, hitting $102,760, its highest in three weeks.

    • Near-Term Targets: Analysts predict $120K as the next milestone.

    • Higher Projections: Predictions include $200K, $315K, and even $450K based on technical setups.

    • Bull Flag Formation: A pattern points to $175K as a potential upside target.

    • Fibonacci Analysis: Milestones extend to $450K if the rally sustains momentum.

  • Detailed Insights:

    • Technical Indicators: BTC’s breakout past $100K sets the stage for a push toward $107,500 and higher.

    • Bullish Sentiment: Analysts like Mike Alfred see minimal downside, projecting significant long-term gains.

    • Historical Patterns: Fibonacci levels and previous cycles suggest extended rallies to $450K.

    • Market Dynamics: Positive RSI (69) signals favorable conditions for continued upward movement.

    • Support Zones: Temporary retracements to $95K–$96K are possible before further rallies.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results