Fri 21 Feb 2025 ▪
3
min read ▪ by
Bitcoin continues its spectacular rise at the beginning of 2025, reaching $98,404 on major exchange platforms. This increase comes amidst a growing institutional adoption and promising technical signals, while traditional markets like gold and the S&P 500 are also setting new records.
Bitcoin Reaches a Key Moment in the Bull Market
Today, on February 21, 2025, Bitcoin has firmly remained above $98,000, marking its highest daily close in three weeks. Data from Cointelegraph Markets Pro reveal that the BTC/USD pair continues its ascent, despite relatively contained volatility.
This positive development is supported by encouraging U.S. macroeconomic indicators, notably unemployment claims, which exceeded expectations with 219,000 applications.
Technical analysts, including trader Patric H., identify the $100,000 mark as a critical threshold to watch. Trader Roman considers $98,400 as a decisive “pivot point”, suggesting that a breakout above this level could trigger a rapid rise towards $108,000. This projection is particularly based on the decline in volume during recent corrections, a traditionally bullish signal.
A Supportive Institutional Context Despite Correction Risks
The institutional adoption of Bitcoin is accelerating, particularly with the increasing interest from central banks. The Czech National Bank plans to invest up to $7.3 billion in Bitcoin, which is about 5% of its reserves. According to André Dragosch, head of research at Bitwise, this purchase would equate to 5.3 months of Bitcoin’s newly mined supply.
Ki Young Ju, CEO of CryptoQuant, maintains a bullish outlook even in the event of a correction down to $77,000. His analysis reveals three strategic support levels: $89,000, corresponding to the average entry of Bitcoin ETFs, $59,000 for the balance of Binance traders, and $57,000 marking miner profitability. These levels are expected to support the bullish trend despite potential fluctuations.
Bitcoin now stands as a mature financial asset, evolving alongside gold and stocks. As the market capitalization of gold surpasses $20 trillion, Bitcoin retains strong growth potential, supported by this growing institutional recognition.
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Passionné par le Bitcoin, j’aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l’outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
