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- Bitcoin’s $100,000 milestone reflects steady growth, with bullish indicators suggesting more room for upward movement amid rising institutional interest.
- Analysts foresee $150,000 for Bitcoin by 2025, fueled by optimism, institutional investment, and favorable macroeconomic and regulatory trends.
Bitcoin crossing the $100,000 mark has sent ripples across the broader crypto market, but Changpeng Zhao, the founder of Binance, brushed off the achievement with a playful remark, calling it “boring.” While the milestone is a testament to Bitcoin’s steady growth, many are now looking beyond and asking where the cryptocurrency could go next.
100k is boring, right?
— CZ 🔶 BNB (@cz_binance) January 7, 2025
Rising institutional and retail interest and an uptick in global liquidity fueled Bitcoin’s journey to $100,000. However, Bitcoin’s rally is far from an impulsive spike, as indicators suggest room for further growth. The Relative Strength Index (RSI) currently sits at 49, well below the overbought threshold of 80, hinting at ongoing bullish momentum.
Optimism Swells in the Crypto Market
Market metrics like the Mayer Multiple and Bitcoin Pi Cycle Top are comfortably below critical levels, supporting the idea that the current bull run is in its early to mid stages. The 20 EMA and 50 EMA charts show a strong upward trend, and while trading volume has increased, it remains far from signaling a market top.
Bitcoin futures are seeing higher open interest, with leveraged traders flocking to capitalize on the rally. Analysts point to resistance levels at $110,000 and $120,000 as the next hurdles. If momentum holds and trading volumes rise further, those targets may be within reach sooner rather than later.
The broader crypto market is also riding a wave of optimism as it heads into 2025. In part, this stems from hopes for a supportive regulatory environment under the expected Donald Trump administration. Coupled with ongoing quantitative easing from central banks, the conditions are ripe for sustained growth.
Changpeng Zhao: “2025 Will Be the Year of ‘Send It'”
Institutional players are playing a significant role in Bitcoin’s climb. Billions of dollars are flowing into cryptocurrency-focused exchange-traded products and shares of companies with Bitcoin reserves. The US and other nations are even weighing the idea of strategic Bitcoin holdings, which could add further credibility to the asset class.
Changpeng Zhao, known for his forward-looking views, was optimistic about the future. On January 3, he tweeted, “2025 will be the year of ‘send it,'” using a popular phrase among cryptocurrency enthusiasts to signify excitement over surging prices. Analysts at Steno Research echoed this sentiment, forecasting Bitcoin to hit $150,000 and Ethereum to reach $8,000 by 2025.
If you ever wondered why people tweet 4, it came from this tweet 2 years ago today. In hindsight, should've made "4" the "0"th point. 😂
2025 will be a "send it" year. https://t.co/6f27u0mYez
— CZ 🔶 BNB (@cz_binance) January 3, 2025
With Bitcoin settling at $100,000 and consolidation underway, the stage is set for what many are calling a transformative period. If historical patterns hold true, Bitcoin could be on the verge of another leg up, cementing its status as a digital gold standard.
