Bhutan holds another $886 million worth of Bitcoin, which could introduce more selling pressure, as the country has been mining and holding Bitcoin for over five years.
Bitcoin Price news
Bitcoin may strengthen its status as a hedge against monetary debasement due to China’s plans for over $1.4 trillion in new debt, raising interest among traders.
BTC price gains are boosting bullish sentiment, but the latest Bitcoin market analysis calls for a balanced perspective.
Bitcoin derivatives markets are setting up for a potential BTC rally above $80,000 before the end of 2025, fueled by excitement over a potential Trump victory.
If Bitcoin produces a clear move above $72,000, its price could be in the six-figure range by 2025, the latest market analysts suggests.
Bitfinex analysts say Bitcoin could reach a new all-time high following the US election, with market conditions forming a “perfect storm” for a major price push.
Deficit spending and lower interest rates have boosted global liquidity higher, benefiting Bitcoin and related markets, Blockware’s Mitchell Askew said.
Bitcoin has topped $70,000, its highest price since June after US-based ETFs surpassed total joint lifetime net inflows of over $22 billion.
Bitcoin price rallies as traders react to geopolitical and economic uncertainty, as the potential outcome of the upcoming US election.
The investment manager’s long term model puts BTC’s price at roughly $3 million by 2050.