Bitcoin before the decisive threshold: 120,000 USD or 105,000 USD?
Bitcoin is currently trading around 114,000 USD, in the context of the market entering an important phase of Q4. The largest cryptocurrency in the world is fluctuating within a narrow range, with support at 108,000 USD and resistance at 116,000 USD. Experts believe this is a critical price range, as a breakout in either direction will create a clear trend for the final months of the year.
If it surpasses the threshold of 116,000 USD, the short-selling pressure along with the accumulated capital from large investors could push the price up to the 118,000 – 120,000 USD range. Conversely, if Bitcoin loses the 108,000 USD level, the selling pressure is likely to pull the price down to the 105,000 USD area.
Capital inflow from the ETF market is reinforcing a positive outlook. In just one day, funds recorded a net inflow of 521 million USD, led by Fidelity with the FBTC product. At the same time, the amount of Bitcoin on exchanges continues to decline, while the buying activity of 'whales' is becoming increasingly strong. These are seen as supporting factors for the upward trend.
However, analysts warn that the high volatility will soon return, and investors need to prepare for both scenarios.
