Bitcoin saw a small 1.10% increase last week, according to CoinMarketCap. But where it goes next is still uncertain. Recent remarks from Donald Trump have added to the confusion, and some experts believe the price could dip again before making a comeback.
Will Bitcoin Push Past $98K?
After weeks of falling, Bitcoin briefly reached $95,000 before dropping back to $86,000. Right now, it’s hard to tell where it will go next.
Crypto expert Ali Martinez says Bitcoin is stuck between two important price levels.These price levels are based on where a lot of investors bought Bitcoin before. The biggest hurdle right now is $98,081 because around 320,040 BTC were purchased at that price. If Bitcoin reaches this point again, many of those investors might sell to break even or make a small profit, which could make it harder for the price to go any higher.
If Bitcoin does break through this level, it could climb past $100,000 and maybe even set a new record. But if it drops, the next big support level is $59,882, where 220,150 BTC were bought earlier. If Bitcoin falls this low, long-term investors might start buying again. However, if the price goes below $59,882, many people might panic and start selling, which could cause a bigger crash.
What’s Next for Bitcoin?
Right now, Bitcoin is worth $85,995, down 1.98% in the last 24 hours. The number of people buying and selling BTC has also dropped by 6.38%.
Bitcoin has had ups and downs before. In 2021, it hit a record $69,000 before falling below $20,000 in 2022. Last year, Bitcoin went back up past $50,000 after the U.S. approved Bitcoin ETFs.
The market is always changing, but some good news—like talks about a U.S. Bitcoin Reserve—could help. Whether Bitcoin breaks past $98,000 or drops toward $59,000, the next few weeks will be important.
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