Bitcoin continues its bullish momentum, trading above $105,800 and climbing 3.7% in the past 24 hours. Analysts point to several factors contributing to predictions of a possible surge to $120,000.
Price Resilience and Market Sentiment
Bitcoin remains above the psychologically significant $100,000 level despite global tensions, strengthening investor confidence. Brief dips below $100K are quickly bought up, indicating a strong 'buy the dip' mentality.
Potential Fed Rate Cuts
Talk of potential Federal Reserve interest rate cuts is also fueling optimism across financial markets, including cryptocurrency. Fed governors Michelle Bowman and Christopher Waller, previously considered hawkish, recently voiced support for rate cuts.
Bullish Technical Indicators
Technical charts are also flashing positive for Bitcoin. The 100-day simple moving average (SMA) has just crossed above the 200-day SMA, indicating strong upward momentum.
With rising institutional interest, favorable macroeconomic conditions, and technical confirmation, the case for Bitcoin reaching $120,000 in 2025 looks more plausible by the day.
