Bitcoin has stood firm at $100,000 for three consecutive days! Analyst: $160,000 is viewed on Bitcoin

In response to this background, analysts and traders have also made optimistic predictions, believing that Bitcoin may usher in a new round of "parabolic" rise.

Analyst: $160,000 is viewed on Bitcoin

Regarding this background, well-known economist Aksel Kibar said through the X platform yesterday (9) that the rise in Bitcoin can be traced back to the price breakthrough in November 2024. He pointed out that the monthly trend at that time formed a clear breakthrough signal on the long-term chart. At that time, Kibar predicted that Bitcoin's next target price would fall at $137,000.

Not only that, trader and analyst Matthew Hyland's predictions are more positive. He said in his latest video analysis that if bullish sentiment continues to dominate the market and the key leading indicator Relative Strength Index (RSI) continues to support upward momentum, Bitcoin may hit a new all-time high in the second quarter, even looking at $160,000 or other more crazy numbers. Hyland's optimistic summary pointed out: I do think Bitcoin is likely to break through these highs.

Short-term profit-taking behavior occurs

However, the current market is not without any hidden worries. For example, well-known trader Skew warned that Bitcoin is currently facing pressure to take full profits in the key long-term resistance range of $103,000 to $104,000. He explained: We are beginning to see some profit-taking behavior, which may be a large trader who is passively selling BTC and closing long positions.

Skew further pointed out that considering that Bitcoin is currently in the supply and resistance zone of a high time frame, such market behavior is logically reasonable. He also reminded that the current performance of the US stock market is flat, and its trend may affect the crypto market, and investors should also pay close attention to the trends of traditional financial markets.

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