The price of Bitcoin continues to hover around $118,338, demonstrating resilience amid market participant indecision. Despite pressure at the $120,000 level, the cryptocurrency holds above the key $115,000 support.
Current Price and Support of Bitcoin
Bitcoin is currently trading at $118,338, indicating some uncertainty among traders. Over the past few days, the asset has fluctuated within a narrow range, suggesting a potential breakout. The support level is set at $115,000, providing certain hopes for further growth.
Bitcoin Forecasts
According to an analysis by crypto analyst Ali, Bitcoin may reach a price of $149,679. The forecast is based on the 'Cumulative Value Days Destroyed' (CVDD) model, which provides reliable signals for market highs and lows. Secondary highs to be noted are at the $119,344 level.
Institutional Investor Activity
In the last 12 hours, Galaxy Digital is reported to have transferred approximately 3,782 BTC, worth around $447 million, to various exchanges. This raises questions about the company’s involvement in selling a large amount of Bitcoins on behalf of clients. Additionally, a newly created wallet has withdrawn 3,500 BTC from the Gemini crypto exchange.
Bitcoin continues to show activity amid market uncertainty. While the current price hovers around key levels, many analysts and institutional investors maintain positive forecasts, which could lead to significant growth in the future.
