As of January 23, 2025, Bitcoin (BTC) is trading at approximately $102,378, reflecting a 2.95% decrease from the previous close.



Recently, Bitcoin reached an all-time high of $109,225 ahead of President Donald Trump's inauguration. However, it has since retracted to its current level.

Market analysts suggest that Bitcoin's trajectory toward the $118,000 to $120,000 range depends on several catalysts, including the establishment of a U.S. strategic bitcoin reserve and the approval of exchange-traded funds (ETFs) for smaller cryptocurrencies. While President Trump has hinted at creating such a reserve, specifics remain unclear.

Larry Fink, CEO of BlackRock Inc., stated that Bitcoin's price could soar to $700,000 if more funds allocate between 2% to 5% of their investments into the cryptocurrency. Despite previously being doubtful about digital assets, Fink is now a strong advocate for Bitcoin as a stable instrument against currency debasement and political or economic instability.

On the technical front, Bitcoin is consolidating between $100,000 and $109,588, with charts currently indicating a higher chance of an upside breakout.

In summary, while Bitcoin has experienced a slight pullback from its recent peak, the overall outlook remains positive. Key developments, such as potential policy changes and institutional investment, could significantly influence its future performance.

#Gate.io Reserves Surpass $10 Billion #GT Hits ATH #SOL Trend Analysis
BTC0,74%
TRUMP-0,54%
S-1,41%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)