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Bitcoin Price Analysis: $120K Rally or $78K Drop – What’s Next?
The entrance of Bitcoin (BTC) price above $100k, for the first time since its existence earlier this month, was viewed as one of the most crucial bullish milestones during the 2024/2025 bull market. However, the accelerated crypto cash rotation to large and altcoins, DeFi projects, NFTs, and other emerging sectors has resulted in a short-term bearish outlook for Bitcoin.
As per Coinglass’s on-chain data analysis, institutional investors – led by BlackRock’s IBIT and MicroStrategy Inc. (NASDAQ: MSTR) – have continued to aggressively accumulate more coins. This substantial influx of capital is expected to play a significant role in shaping the cryptocurrency market’s future trajectory.
Despite this short-term bearish outlook for Bitcoin, global adoption and an increasing recognition of its decentralized nature are projected to drive prices further.
Source: coinpedia.org
