- Bitcoin (BTC) hit $98,150 before pulling back, currently priced at $95,312 with a $1.89 trillion market cap.
- A major Bitcoin whale moved 1,000 BTC ($97.5M) onto Binance, continuing its accumulation since March.
- Experts maintain a bullish outlook, predicting BTC could reach $200K in the current cycle.
Bitcoin (BTC) recently came close to reaching the coveted $100,000 mark, hitting $98,150 before seeing a slight pullback. Although BTC has faced some challenges in maintaining its upward momentum, it remains resilient, showing strong potential for further gains.
As of now, BTC is priced at $95,312, with a 24-hour trading volume of $66.74 billion and a market capitalization of $1.89 trillion. Its market dominance stands at 54.41%, although it has seen a minor decline of -1.70% in the last 24 hours.
Bitcoin Whale Moves $97.5M Amid Retail Hesitation
Market sentiment around BTC has been a mix of anticipation and caution. Retail investors, in particular, have been active in the market, with some seemingly opting to sell their holdings in anticipation of a price dip.
Crypto expert Ali pointed out that many retail investors are likely waiting for the pullback that top influencers continue to predict. However, Ali noted that Bitcoin has a history of surprising the crowd, often moving in the opposite direction of widespread expectations.
Data from Lookonchain also revealed a significant move by a major Bitcoin whale. In the past four hours, this whale deposited 1,000 BTC, valued at approximately $97.5 million, onto Binance. The same whale has been accumulating BTC since March 14, collecting a total of 11,657 BTC (worth $780.5 million) from Binance, with an average purchase price of $66,953.
Bitcoin Holds Strong: Bullish Forecast for $200K Target
Despite the short-term fluctuations, some industry figures maintain a bullish outlook on Bitcoin’s long-term potential. Titan of Crypto, a prominent figure in the crypto community, recently shared an optimistic prediction, suggesting that Bitcoin could hit $200,000 during this cycle.
While such a target may seem ambitious, Titan pointed out that BTC recently closed November above the center line of its Ascending Channel, suggesting a bullish trajectory. While this price point remains speculative, it indicates that BTC’s upward potential is far from being exhausted.
The journey of Bitcoin towards new highs may face extra hurdles while strong support by investors and both retail and institutional seems to keep the cryptocurrency amidst the most closely watched in the market. As firm BTC holds up against extreme volatility, its next point will be critical in understanding whether it can break this $100,000 obstacle and continue defying speculations.
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