Bitcoin (BTC) Price Prediction & Analysis: Retesting $100,000 Potential?
Bitcoin is undergoing a notable correction, currently trading at approximately $87,534, a 21% drop from its all-time high. Analysts are divided on its future, with some indicating potential recovery toward $100,000 based on the Wyckoff reaccumulation pattern. Recent outflows from Bitcoin ETFs and macroeconomic factors are contributing to market volatility as investors observe key price support levels.
Bitcoin (BTC) is currently experiencing a notable price correction, with a decline exceeding 21% from its all-time high of approximately $109,300. As of February 26, 2025, the cryptocurrency’s price stands at around $87,534, which indicates its position within correction territory. Analysts are debating Bitcoin’s future trajectory, with some suggesting it may be poised for a recovery toward the $100,000 milestone based on the technical Wyckoff reaccumulation pattern.
Technical analysts have identified that Bitcoin is currently in the “Test” phase of the Wyckoff model, marked by a retest of its Spring phase low at approximately $85,950, which is seen as a critical support level. If this support level holds firm, the analysis indicates potential price movement towards a new Last Point of Support (LPS) near $96,780. Historical data shows that a similar pattern observed in August 2024 led to a substantial price increase from $53,400 to $74,000.
The recent downturn in Bitcoin’s price has also led to massive withdrawals from U.S. spot Bitcoin exchange-traded funds (ETFs), totaling nearly $1 billion. This trend aligns with the insights of Geoff Kendrick, who anticipates that significant capitulation may still be forthcoming. The current charts suggest further downward price implications, with historical corrections typically drawing prices back to the 50-week exponential moving average (EMA), which is situated around $76,390, approximately 15% lower than the current price.
Key support levels are crucial as the price trends downwards; a breakdown below significant support could propel Bitcoin towards Fibonacci retracement levels of $57,690 and potentially down to $48,170. Conversely, should Bitcoin rebound from the current range between $85,000 and $90,000, it could forge a path toward the coveted $100,000 mark. Market participants are monitoring broader economic factors, including geopolitical tensions and consumer confidence, which are expected to impact Bitcoin’s price movements.
Furthermore, Federal Reserve Chair Jerome Powell has paused the planned interest rate adjustments, affecting market sentiment amid inflation concerns. Additionally, Nvidia is set to release its fourth-quarter earnings report, which may influence both technology and cryptocurrency markets based on the outcomes. Analysts at Bitfinex assert that Bitcoin stands at a pivotal juncture following nearly three months of consolidation, with macroeconomic trends likely determining the next significant price movement.
In conclusion, the Bitcoin market is currently characterized by a significant correction, triggering discussions about its potential trajectory influenced by the Wyckoff reaccumulation model. While the price may face further declines, key support levels are essential for a possible rebound. Broader economic factors are likely to play a substantial role in Bitcoin’s next movement, making it crucial for investors to remain vigilant during this volatile period.
Original Source: coincentral.com
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