Prediction on Bitcoin Value: Could a Correction Push Bitcoin Prices below $110,000 before New Year's Eve?
In the world of cryptocurrency, the current outlook for Bitcoin is a mixed bag, leaning towards cautious optimism. The market is experiencing short-term bearish pressures due to the dominance of sellers, bearish patterns, and ongoing profit-taking.
Recent market stress and massive liquidations, amounting to over $1 billion in recent days, have pushed Bitcoin prices down. This indicates that short-term market sentiment is under pressure, testing the resolve of the bulls before potential next moves.
Many Bitcoin holders are in substantial profit, with the Market Value to Realized Value (MVRV) ratio currently at 21%, which is considered a "mild danger zone." This creates ongoing selling pressure as investors lock in gains after recent all-time highs, leading to cooling-off periods marked by waves of profit-taking and price consolidation.
However, despite these short-term bearishness, long-term holders and whales continue to accumulate Bitcoin quietly. A key support zone is seen around $112,000, where investors hope Bitcoin can regain upward momentum.
Analysts’ price predictions for Bitcoin in 2025 vary widely, reflecting the uncertainty. Short-term forecasts range roughly between $113,500 and $120,100 through late August, with some bullish predictions expecting highs up to $131,700 in September and potentially much higher by the end of the year (up to $200,000 or more under favorable conditions). However, some models emphasize the need for Bitcoin to absorb selling pressure and establish steady demand to break out decisively upward.
The trend started with the formation of bearish patterns and ongoing profit-taking after the price recently hit a new high. At press time, Bitcoin's price is $115,076, down 0.65% in the past 24 hours. The trading volume has decreased by 10% compared to the previous day.
Despite the short-term volatility, the overall longer-term prediction remains optimistic but contingent on Bitcoin overcoming prevailing selling pressure and sustaining new demand. The halving cycle influence continues to guide long-term projections, with predictions like Pantera Capital’s prediction for BTC near $117,500 by mid-August 2025 being accurate.
In summary, the dominance of sellers, bearish patterns, and profit-taking are causing Bitcoin to experience short-term downward pressure and volatility, likely leading to consolidation or cooling-off phases. However, strong support from long-term holders and institutional interest suggests Bitcoin could stabilize around key support levels and prepare for potential upward movements later in 2025.
Read also:
- Industrial robots in China are being installed at a faster rate than in both the United States and the European Union, as the global market for these robots faces a downturn.
- Hyundai N affirms transition to hybrid performance-centric models, initiating with Tucson N
- Stock markets in India anticipated a moderate opening, influenced by mixed signals from global markets.
- EV Charging Network Broadens Reach in Phoenix, Arizona (Greenlane Extends Electric Vehicle Charging Infrastructure in Phoenix)
