For the first time since late January, Bitcoin has dipped below the $100,000 mark, raising interest among investors and analysts trying to understand the cause and possible outcomes of this event.
Current Bitcoin Situation
Bitcoin ended January at a record $102,412, but its price soon fell below $100,000. Some analysts believe it could briefly slide to $95,000, which stands as a key support level according to Bitget Research's chief analyst.
Impact of U.S. Employment Report
On February 7, the U.S. Bureau of Labor Statistics will release its job market report, which could significantly affect Bitcoin's price. Should it signal economic weakness, there looms the prospect of a Federal Reserve interest rate cut, potentially benefiting Bitcoin.
Future Projections
Despite the current decline, experts predict that by the end of 2025, Bitcoin could reach between $160,000 and $180,000. One key reason for optimism is the growing interest in Bitcoin ETFs, which now possess over $125 billion in total assets just a year after their launch in the U.S.
While Bitcoin is experiencing short-term price fluctuations, many experts view this correction as potentially stabilizing the market for further growth. Nevertheless, the cryptocurrency market remains risky for investors, who should always be prepared for potential losses.
