Bitcoin (BTC) recently reached a peak of $76,940, marking a fresh milestone for the cryptocurrency. The rally follows the Federal Reserve’s decision to lower its benchmark interest rate by 25 basis points, sparking renewed investor interest.
This change brought the rate down from 4.50% to 4.75%, setting the stage for a potential surge in BTC as traders look to hedge against traditional currency volatility.
The surge aligns with prominent analyst Kevin Svenson’s optimistic prediction of a six-figure Bitcoin price.
Analyst’s Forecast: $142,000 Target by October 2025
Crypto analyst Kevin Svenson has projected that Bitcoin could reach $124,000 by March and even hit $142,000 by next October.
According to Svenson, BTC must first break through the $94,000 threshold, which serves as the critical resistance level in a descending broadening wedge chart pattern.
Should Bitcoin succeed in surpassing this barrier, the price could rapidly ascend to Svenson’s March target of $124,000.
However, Svenson warns of potential market volatility, suggesting a possible summer correction before a late-year recovery.
March Target: $124,000
October Target: $142,000
Key Resistance Level: $94,000
These projections are enticing for Bitcoin investors, but Svenson advises caution, as BTC could face significant retracement once the October target is met.
Traders are encouraged to consider profit-taking strategies as the cryptocurrency approaches these speculative highs.
Bitcoin Gains Momentum Amid Global Economic Uncertainty
Bitcoin’s rise is further supported by geopolitical factors and potential currency risks. JPMorgan analysts have pointed out that, should Donald Trump win the U.S. presidential election, inflationary pressures could spark a ‘debasement trade’—where investors turn to assets like gold and Bitcoin to protect against a declining dollar.
They believe ongoing tariffs and political uncertainty will reinforce this trend, potentially pushing BTC higher.
Adding to the momentum, MicroStrategy’s plan to raise $42 billion, allocating $10 billion for Bitcoin acquisitions by 2025, is drawing significant attention.
This corporate commitment underscores Bitcoin’s appeal as a long-term asset, especially in times of economic instability.
Bitcoin ETFs Surge: A New Force Driving BTC Prices
Bitcoin ETFs are enjoying record-breaking demand, contributing to BTC’s bullish run. The IBIT ETF recently had one of its most active trading days, even outperforming popular stocks such as Netflix and Visa.
In 2024 alone, Bitcoin-focused ETFs have captured six out of the top 10 ETF launches, indicating a strong appetite for Bitcoin-backed investments among traditional investors.
Record ETF Trading Volume
Top 10 ETF Launches Dominated by Bitcoin Products
Investor Shift Towards Cryptocurrency Diversification
The surging popularity of Bitcoin ETFs and growing interest in digital assets suggest an enduring bullish outlook for BTC.
As interest in ETFs grows, along with forecasts from analysts, Bitcoin’s journey to six figures appears within reach—potentially sooner than anticipated.
Bitcoin Eyes $80,000 as Bullish Momentum Holds Above Key Support Levels
Bitcoin’s price remains strong, currently trading at approximately $75,980, supported by recent bullish momentum. Key Fibonacci levels indicate that the price may aim for $77,800 and potentially $80,400 if the rally extends.
Bitcoin Price Chart – Source: Tradingview
Immediate support lies at $72,160, with the 50 EMA at $73,580, reinforcing this support zone. The RSI is at 63, indicating Bitcoin is nearing overbought levels, which may lead to short-term consolidation.
A breakout above $77,800 could open the path to the $80,000 mark, while a breach below $71,000 would signal possible downside pressure.
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