Bitcoin (BTC) prices are sitting currently at $84,787, slightly higher than the previous close. Over the last month, BTC has had extreme price fluctuations. It has dropped off its record high of $109,000 in January, to settle into a range of between $83,000 – $87,000. This price correction is consistent with historically low futures funding rates and ETF outflows, both of which indicate uncertainty about future price movement.
📊 Market Sentiment & Predictions Betting markets have about a 61% chance of BTC reaching $110,000 at some time in 2025, which means the chances of BTC reaching $150,000 are approximately 29%, and just shy of 1 in 7 for reaching $200,000. Analyst opinions are varying between a bull or a bear cycle regarding BTC.
🏦 Federal Reserve Influence The latest comments from the Federal Reserve Chairman Jerome Powell have been a driver in BTC's price action. The decision to hold interest rates steady had a favourable impact on risk assets, this of course including BTC which positively responded with a 1% move higher to $86,304.
📈 Technical Analysis From a technical standpoint, the formation of a falling wedge could lead BTC to an explosion higher as some analysts suggest the possibility of BTC making a serious trend higher.
Continuing pricing action from macroeconomic factors and investors, will we see higher highs soon? Let us know your thoughts below! ⬇️🚀
