$BTC has recorded a remarkable development in recent weeks. After a surge to over $100,000 in mid-December 2024, the price recently fell below the $90,000 mark, but quickly recovered and is currently trading at around $95,000.
This price decline was influenced by several factors:
Stronger economic data:
Positive job market figures in the USA reduced the likelihood of interest rate cuts by the Federal Reserve, which negatively impacted riskier assets like Bitcoin.
Regulatory uncertainties:
A court ruling allowing the US government to sell seized Bitcoins worth $6.5 billion caused unrest among investors.
Despite these challenges, the long-term outlook for Bitcoin remains positive. Analysts predict price targets for 2025 between $200,000 and $400,000, supported by expected positive crypto policies from the Trump administration and the potential introduction of a strategic Bitcoin reserve system in the USA.
Technical analyses identify key support levels at $92,000 and $87,000. Falling below these levels could lead to further price declines, possibly down to $73,000. Resistance is seen at $100,000 and $106,000, where profit-taking is expected. đ°
Additionally, on-chain data indicates robust network activity, with an average of 543,000 transactions per day. The average transaction fee is $3.58, indicating an efficient network. đĄ
Overall, Bitcoin remains a volatile but promising asset. Investors should closely monitor market conditions and adjust their strategies accordingly. đ
Some time ago, I already created a large long position and was able to achieve significant profits. I am quite optimistic that Bitcoin will bring us much joy soon. đđđ
