Bitcoin Breaks New Highs Again

Recently, Bitcoin's price has broken new highs, reflecting the market's strong bullish sentiment towards its future.

According to analysis from 21Shares, the current rise in Bitcoin is not driven by retail frenzy, but rather by a combination of factors including institutional capital inflows, supply tightening, and macroeconomic improvements.

The ongoing absorption of spot Bitcoin ETFs has further tightened market supply, and investors, including major institutions like Strategy, are continuously increasing their positions, demonstrating long-term confidence in Bitcoin.

Additionally, some countries are beginning to explore establishing Bitcoin strategic reserves, which also provides additional support for Bitcoin's value appreciation.

Analysts point out that despite some market fluctuations, such as margin liquidations and concerns over credit risk, Bitcoin's price still shows resilience, with support around $102,000, indicating that the current upward trend is sustainable.

Technical analysis suggests that if Bitcoin can maintain itself within the range of $103,500-$105,200 over the next 24 hours, the probability of breaking $107,000 and challenging new highs of $110,000 will significantly increase.

Overall, the structural changes in the market, combined with technical support, suggest that Bitcoin is expected to continue rising through 2025, potentially reaching a forecast target of $138,500. In the coming months, investors should pay attention to institutional investment dynamics and macroeconomic changes to seize Bitcoin investment opportunities. #币圈新闻