$BTC đ Bitcoin (BTC): Approaching the $100K Milestone
Bitcoin has experienced a significant rally, breaking above $96,000 and nearing the psychological resistance level of $100,000. This surge is attributed to several factors:
Institutional Interest: Reports indicate that investment bank Morgan Stanley may introduce spot cryptocurrency trading to its E*Trade platform, signaling growing institutional adoption .
Corporate Accumulation: Strategy, the largest corporate bitcoin holder, plans to acquire more BTC through a $21 billion equity offering, demonstrating confidence in Bitcoin's long-term value .
Technical Breakout: Bitcoin recently broke out from a descending channel and pennant pattern, indicating bullish momentum. Key resistance levels to watch are $100,000 and $107,000, while support levels lie at $92,000 and $85,000 .
Looking ahead, some analysts predict that Bitcoin could reach between $120,000 and $200,000 in 2025, driven by ETF flows and supply tightening . More ambitious forecasts even suggest a potential rise to $700,000, though such projections should be approached with caution .
