Bitcoin Bulls Charge Toward All-Time High as $98K Support Holds Strong
Bitcoin’s price surge above $103,000 has reignited bullish momentum, with long-term holders back in profit territory as the $98K level emerges as a key support zone. Short-term traders are also capitalizing on improved margins, fueling Optimism for a potential run toward new all-time highs.
$98K Bitcoin Price Bounce? Profits Surge As Bulls Eye ATH
Bitcoin’s recent price action has reignited bullish sentiment, with the cryptocurrency trading above $103,000. Long-term holders are back in profitable territory, as realized prices for their UTXOs hover around $98,000—a level historically serving as a robust support zone.
The market’s upbeat mood is further evidenced by short-term traders holding Bitcoin for 1-3 months, who are now seeing improved profit margins. A bounce from the $98K level could catalyze further upward momentum, potentially setting the stage for a new all-time high.
Why a Fund Manager Left BlackRock to Trade Bitcoin and Pudgy Penguins NFTs
Jennifer Thornton’s career pivot from traditional finance to crypto exemplifies the growing institutional shift toward digital assets. After a decade at BlackRock managing conventional portfolios, she joined Bitwise in 2021 to oversee innovative products like the Blue-Chip NFT Index Fund—a fund tracking crypto-collectibles including Pudgy Penguins.
The MOVE reflects broader industry momentum. Crypto employment reached 199,000 professionals in 2023, with institutional adoption fueling expansion. Thornton’s trajectory mirrors the market’s evolution: from Bitcoin’s dominance to niche NFT markets gaining traction among allocators.
Bitcoin’s Steady Surge Signals Potential to Reach $134,000 by 2025
Bitcoin has demonstrated a consistent upward trajectory since April, climbing from approximately $74,000 to nearly $105,000. The cryptocurrency’s price action has formed a clear ascending channel, a technical pattern that often signals sustained bullish momentum.
Analysts project key resistance levels at $114,000 and $124,000, with a potential peak of $134,000 by mid-2025 if the current trend persists. The Cumulative Value Days Destroyed (CVDD) indicator suggests bitcoin remains in an accumulation phase, with critical support holding around $90,000.
Bitcoin Hitting $250,000 In 2025 Is ‘Totally Possible’, According To Popular Crypto Pundit
Bitcoin could surge to $250,000 this year as institutional interest grows and volatility declines, according to crypto analyst Scott Melker. Known as the Wolf of All Streets, Melker points to shrinking price swings and increasing participation from pension funds and ETF issuers as signs of a maturing market.
Bitcoin’s volatility has dropped from three times to less than twice that of the S&P 500, reflecting broader institutional adoption. The reduced turbulence suggests a more stable foundation for price appreciation, with Melker calling a six-figure Bitcoin "totally possible" in 2025.
Bitcoin’s Uptrend Holds, Cooling Periods Hint at Push Toward $115K
Bitcoin has demonstrated remarkable resilience, rebounding from a mid-April low of $74,600 to $105,800—a 40% surge in under a month. The recovery follows a steep decline from January’s peak of $109,000, underscoring the asset’s volatile yet upward-trending nature.
Market activity has entered a consolidation phase, with BTC trading in a narrow $101,000–$105,000 range over the past week. This 0.50% marginal gain reflects trader caution after May’s earlier 10.7% rally. Analysts remain bullish: Trader Tardigrade cites a $10,000 step pattern as groundwork for a $115,000 target, while CryptoCon’s long-term model draws parallels to 2015–2017 cycles, projecting $160,000.
