Bitcoin bulls 'in control’ as BTC price rebounds to $118K
Prefer us on GoogleBitcoin delivers a classic liquidity grab with a correction below $115,000 only to bounce back, while traders eye a BTC price showdown with new all-time highs next.
Key takeaways:
- Bitcoin traders are now shifting their focus to higher price levels following Friday’s $115,000 “liquidity grab.”
- Fundstrat’s Tom Lee reiterates his prediction that Bitcoin could reach $250,000 by the end of the year.
Bitcoin recovered sharply after sweeping range lows on Friday and is trying to continue its uptrend into the weekend, indicating that bulls are still in control of the market.
Bitcoin traders eye highs after $115K liquidity grab
Data from Cointelegraph Markets Pro and TradingView shows BTC/USD surging past $118,300 on Bitstamp, marking daily gains of over 2%.
Having recovered $3,700 from its weekly lows on Friday, Bitcoin’s performance has impressed traders, who are preparing for a renewed assault on all-time highs.
“Bitcoin closed above the bullish key levels and filled the CME gap at $115K,” noted popular crypto analyst Ash Crypto in an X post on Saturday.
As previously reported, Bitcoin’s dip to $115,000 was accompanied by the massive liquidation of overleveraged positions, presenting a buying opportunity for investors. Ash Crypto added, “Institutions bought the dip.”
Bitcoin at $250,000, the Price Predictions from Expert
Fundstrat’s head of research, Tom Lee, maintains his forecast that Bitcoin could climb to $250,000 by the end of 2025, a prediction he has reiterated multiple times.
In a recent interview on CNBC, Lee was asked about potential BTC price levels in the coming months. He responded, “I think the $200,000 to $250,000 range for Bitcoin still makes sense,” explaining, “because that would still only value it at 25% of the size of the gold market.”
Lee argues that Bitcoin, as “digital gold,” is currently undervalued and should be worth over $1 million per BTC.
Other analysts also foresee BTC price surpassing the $200,000 mark. Bitwise researchers André Dragosch and Ayush Tripathi, citing factors such as proposed tax cuts and rising US debt, predict BTC could reach between $200,000-$230,000 by year-end.
Crypto analyst Stockmoney Lizards anticipates Bitcoin could peak around $200,000 based on a technical breakout.
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