The price of Bitcoin (BTC) recorded at $107,591 marked its highest daily level on each daily candle this week, with the cryptocurrency slowly trending towards its all-time high. In line with its current path, Sina, co-founder of 21st Capital, pointed out that Bitcoin is nearing a critical moment at the $108,000 level.
The update of the quantitative Bitcoin model shows that the Bitcoin market reflects the same "excitement" that was present after President Trump's rise following the elections and the increases in exchange-traded funds during the fourth quarter of 2024. The model, which uses quantitative regression to chart Bitcoin price stages on a logarithmic scale, indicates that the cryptocurrency is in a transitional zone, a critical stage before the acceleration phase. During the fourth quarter of 2024, Bitcoin rose by 45% after entering a price discovery period above $74,500.
