Bitcoin (BTC) is trading at approximately $95,676, with traders closely watching key price levels to determine its next move.
Pseudonymous crypto trader Pentoshi suggests that a return to the $106,000 range could signal renewed bullish momentum. In a recent update, Pentoshi stated that reclaiming $106,000 would likely lead to a new round of price discovery, potentially pushing Bitcoin to new all-time highs.
However, some analysts caution that Bitcoin could still face a pullback. If BTC fails to hold its current support level between $92,000 and $94,000, a drop toward $85,000 may be possible. Crypto analyst AlejandroBTC previously noted that Bitcoin’s structure suggests a move toward $85,000 before a potential rebound.
Not everyone agrees on the extent of a possible correction. On January 27, BitMEX co-founder Arthur Hayes predicted that Bitcoin could decline to the $70,000-$75,000 range, potentially triggering broader financial instability.
Meanwhile, some traders believe it is still too early to predict Bitcoin’s next major move. Trader Mister Crypto has set $90,000 as a key level for opening a new position, while another trader, Donny, emphasized that Bitcoin’s chart remains well-structured, but the coming weeks will be crucial in determining its direction.
Despite the short-term uncertainty, long-term Bitcoin advocates remain optimistic. Pseudonymous trader AshCrypto suggested that Bitcoin could reach a new all-time high by March, citing historical trends that show March has delivered an average return of 13.42% since 2013.
Bitcoin previously hit its record high of $109,000 on January 20, just before Donald Trump’s presidential inauguration.
Looking beyond short-term fluctuations, ARK Invest CEO Cathie Wood has expressed confidence in Bitcoin’s long-term growth. She has increased the odds of Bitcoin reaching $1.5 million by 2030, citing growing institutional adoption as a key driver of future appreciation.
While Bitcoin’s immediate trajectory remains uncertain, traders and analysts continue to watch key support and resistance levels as they navigate the evolving crypto landscape.
