On February 4, 2025, Bitcoin continues its bullish momentum, reaching $98,969 with a 6.29% gain in the last 24 hours. The cryptocurrency briefly surpassed the $102,000 level, sparking speculation about potentially reaching new highs.
Market Overview
Current Price: $98,969 24h Change: +6.29% Market Cap: $1.96 Trillion (+6.40%) 24h Trading Volume: $82.23 Billion (-12.44%) Circulating Supply: 19.81M BTC The rise in Bitcoin’s price is largely attributed to increased institutional adoption, strong spot Bitcoin ETF inflows, and anticipation of the upcoming BTC halving event.
Key Price Levels
Support: $95,000 Resistance: $100,000 - $102,000 If Bitcoin breaks past the $100K psychological barrier, analysts believe a new bull run could push the price toward $110K. However, if BTC fails to hold above $98K, a short-term correction to $95K is possible.
Market Sentiment & Outlook
Positive Factors: Institutional demand for Bitcoin ETFs continues to grow. Macroeconomic stability is boosting investor confidence. The Bitcoin halving event in April 2025 is expected to reduce supply. Risk Factors: Market volatility remains high. Regulatory uncertainties could impact BTC’s long-term growth. A strong US dollar could slow Bitcoin’s rally.
Given the current bullish sentiment and strong support around $98K, Bitcoin is likely to test the $100K-$105K range in the coming days. However, traders should remain cautious of pullbacks and market fluctuations.
