Bitcoin Holds Strong Above $109K: Analysts Eye $200K-$1M Price Targets Amid Institutional Demand
Bitcoin (BTC) continues to demonstrate resilience, maintaining its position above $109,000, holding mostly steady over the past 24 hours.
Quick overview
- Bitcoin (BTC) remains resilient above $109,000, with a 4% weekly gain and proximity to its all-time high of $111,000.
- Michael Saylor predicts Bitcoin will reach $1 million, citing limited supply and institutional buying pressure as key factors.
- On-chain analysis indicates continued upside momentum for Bitcoin, with long-term investors holding their coins and institutional demand growing steadily.
- Price predictions for Bitcoin range from $200,000 to $1 million by 2025-2030, supported by technical research and macroeconomic factors.
Bitcoin (BTC) continues to demonstrate resilience, maintaining its position above $109,000, holding mostly steady over the past 24 hours. BTC/USD remains within striking distance of its all-time high of $111,000, posting a solid 4% weekly gain despite recent market volatility.
Michael Saylor Dismisses Crypto Winter Fears, Predicts $1M Bitcoin
Michael Saylor, the Executive Chairman of MicroStrategy, has strongly dismissed worries about another crypto winter, saying that Bitcoin is sure to reach $1 million. Saylor told Bloomberg, “Winter is not coming back.” We’ve moved on from that; if Bitcoin isn’t going to zero, it’s going to a million dollars.
Saylor’s positive view of Bitcoin is based on its limited daily supply. He says that constant buying pressure from institutions would eventually push prices higher because miners sell about 450 Bitcoin a day, which is worth about $50 million at present levels. Saylor said, “If that $50 million is bought, then the price has to go up.” He said that at the current levels, “it only takes $50 million to turn the entire driveshaft of the crypto economy one turn.”
MicroStrategy’s huge Bitcoin holdings of 582,000 BTC, worth about $63.85 billion, have been growing since 2020. This gives him confidence. The CEO said that more businesses using the service, along with a friendly regulatory climate under President Trump, will lead to long-term development.
BTC/USD Technical Analysis Points to Continued Upside Momentum
On-chain analysis shows good signs that Bitcoin’s price will keep going up. Avocado Onchain, a contributor to CryptoQuant, points out several important technical signs that suggest prices will keep going up:
The 30-day moving average of Binary Coin Days Destroyed (CDD) is going down. This means that long-term investors are not yet selling their coins for a profit, which is a good sign for further progress. The MVRV ratio is going up slowly, with no big jumps. This means that the market hasn’t reached a point of extreme greed, which usually happens before corrections.
The Coinbase Premium Index is especially interesting because it shows how prices differ between Coinbase in the US and exchanges across the world. This premium is getting close to the levels witnessed during Bitcoin’s last two peaks, in March and December 2024. This shows that US institutions are very interested in Bitcoin. The Korea Premium Index, on the other hand, is still low, which means that retail traders in Asia haven’t yet entered FOMO mode.
Institutional Demand Drives Quiet but Steady Accumulation
Bitcoin’s current rise is more methodical and driven by institutions than past rallies, which were marked by speculative retail hysteria. Crypto Dan from CryptoQuant said that the Coinbase Premium has been going up steadily since April 21. This is because US investors are always buying.
This institutional base is getting stronger because more and more ETFs are coming in, and BlackRock and other big providers are consistently buying Bitcoin. There are several reasons why people want Bitcoin, including the fact that corporations are starting to use it, nation-states are interested in it (Pakistan’s recent measures toward a strategic Bitcoin reserve being an example), and traditional financial institutions are getting ready to offer custody services.
Market Structure Remains Healthy Despite Controversy
The price of Bitcoin seems to be going up, but there are still disagreements within the cryptocurrency community over where it should go in the future. The OP_RETURN function’s data limit will go from 80 bytes to 4 gigabytes in the next Bitcoin Core 30 version. This will let the blockchain store additional non-financial data. Some people in the Bitcoin community think this development would open up new uses, while others are worried about blockchain bloat.
Since the proposal was made, Bitcoin Core’s market share has dropped from 98% to 88% of Bitcoin nodes, whereas Bitcoin Knots has gained market share. But this internal argument hasn’t had much of an effect on price movements or the trend of institutions adopting the technology.
Bitcoin Price Predictions Range from $200K to $1M by 2025-2030
Many experts have come to the same conclusion about Bitcoin’s price targets. André Dragosch and Ayush Tripathi, researchers at Bitwise, think that Bitcoin might be worth more than $200,000 by the end of the year, with a “fair value” of $230,000. Their analysis points to rising US federal debt and Trump’s promised tax cuts as reasons why Bitcoin is a good way to protect yourself against the risk of a country defaulting on its debt.
The Congressional Budget Office says that net interest payments will reach $3 trillion by 2030, which researchers think will make investors more interested in Bitcoin’s scarcity and strength. ARK Invest has boosted its “bull case” price projection for Bitcoin to $2.4 million by 2030. Saylor, on the other hand, still thinks Bitcoin’s price will stay at $1 million based on supply and demand.
Technical research backs up these positive forecasts. For the first time since mid-2024, the Optimized Trend Tracker (OTT) has triggered, which has been a reliable harbinger of big upward advances in the past. Also, a “power law” model that has correctly anticipated past Bitcoin cycles suggests that the price will reach $200,000 by the end of the year.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
