Bitcoin News: Analyst Predicts $170,000 Cycle Top as Bitcoin Surpasses $100,000

With Bitcoin's price reclaiming the $100,000 mark, Optimism is growing among investors and analysts. Crypto analyst Tony Severino has projected a potential cycle top of $170,000 for Bitcoin, suggesting that a 90% surge could propel the cryptocurrency to this new high. Severino also highlighted the significance of the current price action, noting that a mid-trend re-squeeze could signal the continuation of the ongoing uptrend. This analysis has reignited discussions about Bitcoin's future trajectory and its potential to reach unprecedented levels in the current market cycle.

Bitcoin Price Above $100,000 Renews Hope, Analyst Reveals The Cycle Top

With the Bitcoin price back above $100,000, discussions about the cycle top for the flagship crypto have emerged. Crypto analyst Tony Severino suggested that the cycle top for the Bitcoin price could be around $170,000, noting that a 90% surge could take the flagship crypto to this price level. He also discussed the current Bitcoin price action, remarking that a mid-trend re-squeeze can lead to a continuation of the uptrend.

Trump Ready to Sign Executive Orders Supporting Bitcoin & Crypto Sector

President-elect Donald Trump is reportedly preparing to sign executive orders that will support Bitcoin and the broader cryptocurrency sector. This move comes after the digital assets market faced significant regulatory challenges under the Biden administration, particularly from the U.S. Securities and Exchange Commission (SEC) under Chairman Gary Gensler. The SEC's aggressive stance included multiple lawsuits against crypto and fintech firms, which many believe stifled the growth of the crypto market. The New York Times reports that these regulatory pressures could soon be alleviated under Trump's administration.

U.S. Banks Harassed Crypto Firms & Trump Will Undo the Damage, Says Bitcoin Investor

Several U.S. banks have faced regulatory difficulties when dealing with cryptocurrencies, largely due to the SEC's targeting of the sector. The SEC's actions have been criticized for not allowing the crypto sector to flourish, which has negatively impacted the price of Bitcoin and other digital assets. Bitcoin and the broader crypto market have seen a rally following Trump's election, as investors anticipate a more favorable regulatory environment. This shift is expected to undo the damage caused by previous regulatory actions and foster growth in the crypto sector.

Bitcoin Pushing for $100K Again; Is the Correction Over?

CryptoRank’s data suggests the BTC correction period is likely ending soon as on-chain data indicated a possible rally to $100K. The report claimed Bitcoin could target $145K-249K in 2025 due to institutional capital flows and a favorable regulatory environment. CryptoQuant’s report highlighted that the current BTC price rally is supported by accommodative U.S. monetary policy and historical cyclical patterns. The report also noted that Bitcoin’s demand in 2025 could be boosted by the incoming U.S. administration’s pro-crypto stance, the appointment of crypto-friendly regulators, and potential executive orders by Trump. Additionally, projected Fed interest rate cuts could create a favorable environment for Bitcoin’s growth.

Binance Open Interest Soars After CPI Data Release as Bitcoin Hits $100K Briefly

The release of the December CPI report triggered notable reactions across financial markets, especially in the cryptocurrency sector. While headline inflation aligned with expectations, core inflation fell below forecasts on both monthly and annual bases, fueling optimism for risk-on assets like Bitcoin. Within two hours of the CPI release, Binance Open Interest (OI) sharply rose in response to the inflation data. CryptoQuant’s latest findings revealed that Binance’s futures market recorded a 3.30% surge in OI, which represented nearly half a billion dollars in growth. Total OI on the platform reached $10.96 billion, depicting heightened investor confidence and a synchronized rally in both spot and derivatives markets.