$BTC

Bitcoin Current Status: After plunging down from the discovery phase, the BTC bulls are working diligently to maintain the upward trend, while a decrease in buying pressure has slowed the pace of the recovery. As a result, the price continues to trade within an ascending consolidated range with an aim to rise above current highs and mark a new ATH for the prevailing bullish cycle.

Market Performance: Bitcoin is trading at $108,809 and has surged by over 6.04% in the past 24 hours. The market cap has increased to $2.17 trillion, with a similar rise after marking the bottom close to $2 trillion. While the trading volume increased by over 0.46% to reach close to $46.59 billion. The bullish sentiments are around 82%, and the fear and greed index has increased to 69, suggesting the traders’ sentiments have turned to greed from being neutral.

Bitcoin Price Prediction: Considering the price action since the beginning of the year, the crypto appears to have risen over the bearish interference. The price maintains a consistent ascending trend, forming consecutive higher highs and higher lows. The growing strength of the bulls suggests the price may remain elevated for the rest of the year and find new highs. 

Future Outlook: Bitcoin’s integration into traditional finance accelerates with the launch of spot ETFs, predicting $300B inflows by 2026. Besides, the exchange reserves are depleting at a huge pace, which suggests a supply crunch could be approaching soon. With the retailers yet to enter the markets, the Bitcoin price prediction for 2025 remains largely bullish, having the potential of marking new highs.