$BTC

Bitcoin (BTC) is currently under pressure, trading below the $93,500 zone after facing intense selling pressure since Tuesday ¹. Despite this, some analysts believe that Bitcoin's price crash is not the end of the road, and it could potentially reach $200,000 ¹.

One key metric to watch is the Bitcoin hashrate, which recently hit a new all-time high, indicating strong network security and potential for a price rebound ¹. Additionally, on-chain data shows that long-term holders are selling, but institutional investors are accumulating, signaling mixed market sentiment ¹.

In terms of market trends, some experts predict that Bitcoin could rally in Q1 2025 driven by the US Fed's money printing ¹. Others believe that Bitcoin is forming a symmetrical triangle, which could lead to a breakout or breakdown ¹.

It's also worth noting that Bitcoin's investment thesis as a store of value in an increasingly digital world remains strong, underpinned by its scarcity, decentralization, and censorship-resistant characteristics ².