#BTCBackto100K
Bitcoin is currently trading around $102,986, with an intraday high of $103,513 and a low of $96,900. Technical analysts identify strong resistance in the range of $101,500 to $106,500, with the potential to retest the all-time high of $109,225 reached in January. However, a drop below $93,780 could trigger a correction towards $80,000.
š Impact on Crypto-Related Stocks
The rise in Bitcoin prices also positively impacts the stocks of crypto-related companies:
ā¢ Coinbase: Shares rose 6.1% after announcing the acquisition of Deribit for $2.9 billion.
ā¢ MicroStrategy (now Strategy): Shares rose 6.6%, reflecting the company's significant exposure to Bitcoin.
ā¢ Robinhood: Shares rose 8.6%, in line with increasing retail investor interest in crypto.
š® Future Prospects
With the current momentum, some analysts predict that Bitcoin could reach $120,000 by the second quarter of 2025, although short-term volatility remains a concern.
