Bitcoin (BTC) has shown remarkable performance. Recently, BTC has been trading near multi-month highs, driven by increasing demand and strengthened market sentiment. There are analyses indicating that Bitcoin could test new heights, with projections reaching the range of $109,000 to $116,000, and even a target of $130,000 to $138,000 in the third quarter.
One of the significant factors for this appreciation is the continuous influx of capital into Bitcoin spot ETFs (Exchange Traded Funds) in the U.S., with five consecutive weeks of inflows totaling over $600 million, led by BlackRock's IBIT. Additionally, substantial corporate purchases, such as those from Strategy and Metaplanet, have contributed to the upward momentum.
It is important to note that while some analysts anticipate Bitcoin surpassing gold in the remainder of 2025, others warn of potential risks, such as the incorporation of warnings about quantum computing by major players like BlackRock in their ETF prospectuses.
The market is attentive to resistance levels, with $106,000 to $109,000 being a crucial range, and support levels around $97,000 to $98,500. The continuity of the bullish momentum will depend on maintaining demand and overcoming these technical points.
