“With the Bitcoin Price Reaching A New All-Time High Earlier this Week, Crypto Industry Leaders and Analysts Are Starting To Expert a Lot More from BTC in 2025.”, – WRITE: www.coindesk.com
Is Hovering AROUND The $ 118,000 Level, Flirting with The Idea of Setting A New All-Time High this Weekend.
On Friday, Bloomberg Senior Etf Analyst Eric Balchunas Noted on X that Blackrock’s Spot Bitcoin Etf (Ibit) Had Reached An Important Milestone at the Close of the A, Toting on Previor to $ 80 Billion in Assets Under Management (Aum). The Second Fastest etf to get to this level was vanguard’s S&P 500 ETF (VO), WHICH GOT THERE IN 1,814 days.
On Friday, Bitcoin Set A New All-Time High of $ 118,667.
Durying Interviews with CNBC and Yahoo Finance, Bitwise Asset Management Cio SAID HIS FIRM EXPECTS The BTC PRICE TO REACH OVER $ 200,000 by the end of this year.
As for how High Bitcoin Could Go, Hedge Fund Manager James Lavish Says That Bitcoin Price Is Similar to The Us Debt Celing in that Ultimately there is no Limit.
Technical Analysis
- Bitcoin Displayed A Consolidation Pattern Throughout the 23-HUR TIMEFRAME FROM 11 JULY 11:00 to 12 JULY 10:00, OPERATING WITHIN $ 118.226.29 to the Trough of $ 116.592.83, Account to Coindesk Research’s Technical Analysis Model.
- The MOST SIGNIFICANT PRICE MOVEments OCCURRED DURING The INITIAL HOURS, PARTICULARLY ARUOUND 13:00 AND 15:00 ON 11 JULY, WHEN ELEVATED VOLUME ABOVE THE THE 24-HOUR9 Intrady Swings, Forming Key Support Near $ 116,726.00 and Resistance AROUND $ 118,226.00.
- Following this Early Turbulence, BTC Demonstrated Exceptional Stability with Decreasing Volume, Consolidating Mainly Between $ 117,400.00- $ 117.900.00 Toward $ 118.025.00, Suggesting Potential Bullish Momentum Developing for the Subsequent Trading Session.
- Throughout the Final 60 minutes from 12 July 09:57 to 10:56, Bitcoin Encounted Height Height Valativity with A Notable Downward MOVEMENT FROM $ 118,121.16 by a strong rebound that Establissed the $ 118,000.00- $ 118.070.00 Range As A New Consolidation Zone.
- The Period Displayed Classic Support and Resistance Dynamics, with Volume Spikes of 392.48 and 382.49 Durying The 10: 12-10: 14 Selloff Confirming Institute Partication, While. $ 118.035.00 On Diminishing Volume Suggests Underlying Strength and Potential for Continued Upward Momentum.
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