Bitcoin (BTC) Price Prediction: New ATH at $75,000, What's Next?
Bitcoin recently broke its previous ATH at $73,800 and made a new at $75,000. Currently hovering around $74,926, BTC does not show any chances of retracing
Bitcoin (CRYPTO: BTC) recently broke through its previous all-time high at $73,800, hitting a new peak of $75,000. As of Friday morning, BTC was trading around $74,926, showing no signs of retracing.
Rising Interest Shows Strong Trading Action One thing is clear: Bitcoin trading is through the roof. Open Interest (OI), which measures all the open trades on Bitcoin, hit a new high of $45.41 billion. Since November 5, it has increased by over 13%, indicating a lot of fresh interest.
So why does this matter? This jump in OI indicates that traders aren't just closing positions; they're opening a lot more. In fact, there is about $1.26 billion in short positions that could be wiped out if Bitcoin continues to climb. If that happens, we might see even more buyers piling in, pushing the price up.
Analysts Eye New Heights for Bitcoin Most of the experts think that the Bitcoin rally is not over yet, there is more to it. A well known trader, Peter Brandt shares that he believes we are in the middle of a bull market and that it could peak between $130k to $150k by summer of 2025. If he’s right, $75,000 could be just one step along the way.
Supporting this idea is Bitcoin’s Market Value to Realized Value (MVRV) ratio. This tool helps analysts figure out if Bitcoin is overpriced. Right now, the MVRV is at 2.16, lower than the 2.87 it hit in March. This gives an idea that BTC might still have some room to rise before reaching a point where it’s overbought and will have to perform correction.
What’s Next? So, what does all this mean for Bitcoin’s future? With strong trading activity, lots of optimism, and support from big-name analysts, many believe the rally could continue. Of course, Bitcoin is known for its wild price swings, so nothing’s guaranteed. Still, if this bull market keeps up, we may just be seeing the start of Bitcoin’s next big climb
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