Analysis of Bitcoin this week
1. Recent Price Movement
Bitcoin has risen to new record levels exceeding $122,000–$123,000 this week before pulling back slightly to the range of $117,000–$118,500.
Currently, it is trading at $118,145, reflecting the health of the upward trend.
2. Catalysts for the Rise
Positive legislative framework: Laws such as the GENIUS and CLARITY Act support clarity in the regulation of digital currencies and create an attractive environment for institutions.
Institutional rush: Massive inflows towards institutional ETFs (over $11 billion) enhance credibility and support sustainable demand.
3. Technical Outlook
It is currently fluctuating between $115,000–$118,500, with initial resistance at $118,200–$120,000, and if broken, this indicates a strong upward phase towards $122,000–$130,000.
Strong technical support at levels of $115,000 and then $112,500, and these points are suitable for buying on the dip.
4. Promising Future Expectations
Potential upward wave towards $150,000: Based on the history of digital currencies and support from institutional markets, with estimates reaching this target.
Some analysts see the possibility of Bitcoin reaching $180,000–$200,000 by the end of 2025 driven by significant liquidity and encouraging regulation.
More optimistic views even suggest it could reach $250,000 in the medium term → 🚀
