#Write2Earn Bitcoin price level to watch after cryptocurrency hits record high above $ 125,000
key take aways
- Bitcoins hit another record high monday affter surpassing the closely watched $ 125,000 level over the weekend for the first time ever.
- The cryptocurrency broke out from a two-month descending channel last week,potentially setting the stage for a continuation move to upside.
- Bars pattern analysis forecasts a bullish move to around $ 160,000 that may play out over the next 12 weeks.Investers should watch major support levels of Bitcoin's chart around $ 107,000,$ 92,000 and $ 74,000.
The largest cryptocurrency by market value has rallied as appetite for risk remains strong and as investors use Bitcoin(and gold) to hedge their best against geopolitical uncertainity and high govenment debt,in what JP MORGAN analysts have referred to as the "debasement trade".A growing pool of traders is also buying tokens as more crypto ETFs are launched and cryptocurrencies become more integrated into financial services.
Last week Bitcoin ETFs recorded inflows of $3.2 billion,the second highest haul since they launched in january 2024 Bitcoin to $200K by end of 2025? this cycle indicator points to explosive months ahead.
On chain valuation puts the key threshold at the trader's realized price of $ 116,000,and a multiweek break above that could set the stage for $ 200,000.
WHAT TO KNOW
-Bitcoin demand has been increasing since july,potentially setting up for a late-year rally to over $ 200,000.
- Large holders and ETFs are driving demand,with significant increase in BTC holdings compared to previous years.
-A price move about $ 116,000 is crucial for transitioning into a bull market phase,with potential valuations between $ 160,000 and $ 200,000.
Bitcoin demands has been quietly expanding since july,setting the stage for what could be another late-year rally to over $ 200,000.
Apparent demand has grown at a rate of roughly 62,000 BTC per month,according to cryptoQuant,a backdrop similar to Q4 of 2020,2021 and 2024.when orices staged sharp move higher.
#MarketRebound