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Bitcoin price has been on the investors’ radar lately amid a volatile trading scenario in the broader market. Notably, BTC has stayed in the green today, soaring past the $88K mark, with increasing bets from the market participants towards a potential rally to $90,000 next. Besides, it also comes as several market pundits expect the flagship crypto to hit a new all-time high soon.
Bitcoin Price Nears 90K: Will The Momentum Continue?
BTC price today was up over 1% and exchanged hands at $88,141, while its one-day volume fell 11% to $28 billion. The crypto has hovered between $88,542 and $86,997 in the last 24 hours. Amid this, a recent BTC price prediction indicates a potential surge to over $90,000 by next month.
Meanwhile, analyst Michael van de Poppe believes Bitcoin price’s uptrend remains intact. He highlights BTC’s gradual and consistent retests as a strong indicator of further gains. Van de Poppe stated that Bitcoin is likely to continue its push toward $90K in the coming days.
In addition, he suggested that each day increases the likelihood of BTC reaching a new low before continuing its upward trajectory. Similarly, market strategist Rekt Capital drew parallels between BTC’s current price action and its 2021 consolidation phase.
He pointed out that Bitcoin is trading between the 21-week and 50-week EMAs, a pattern seen before the asset surged to an ATH in November 2021. If history repeats itself, BTC could be on track for another record-breaking rally.
Bitcoin’s Macro Indicators Signal Further Growth
Adding to the bullish sentiment, crypto trader Javon Marks provides an even more optimistic view, setting a $116,652 price target for BTC. He emphasized that Bitcoin price is displaying multiple macro bullish signals. These indicators suggest the ongoing bull cycle will continue, pushing prices significantly higher.
Echoing similar sentiment, market expert Ali Martinez highlighted growing whale accumulation. He reported that 48 new wallets now hold over 100 BTC each. This surge in large-scale accumulation signals strong confidence among institutional and high-net-worth investors, potentially paving the way for further price appreciation.
What’s Next For BTC?
Looking at the recent predictions and analysis of the experts, it appears that the future of crypto looks bright. Notably, Arthur Hayes also recently predicted that Bitcoin’s price would hit $110K in the coming days. However, the ongoing volatile scenario has forced many investors to stay on the sideline.
Despite that, the recent market trends indicate a positive run ahead for the asset. For context, 21Shares and BlackRock have launched Bitcoin ETP in the growing European market. This could significantly help boost the crypto’s adoption, which in turn could drive the prices higher.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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