With The Price Reaching 102,650 Dollars, Is Bitcoin Preparing For Another Surge?

What can we expect from Bitcoin after its recent breach of the symbolic $100,000 mark? As the queen of cryptocurrencies now approaches $102,650, speculation is rife about its next destination. Should we expect another surge to unprecedented heights or an unexpected correction? An analysis of on-chain data and market psychology could provide us with valuable clues regarding the next steps for BTC.

Bitcoin: on-chain signals to watch

The Bitcoin news: this good old crypto wanderer continues to surprise. After reaching a record of $102,650, investors remain curiously cautious. According to Santiment, the market still seems far from euphoria. And that’s good news: when the crowd panics, buying opportunities flourish; when it gets excited, it is often time to sell.

The on-chain data reveals that:

• Periods of high selling pressure, such as November 26 and December 2, often precede a rise;
• In contrast, a buying frenzy observed on November 21 and December 5 coincides with declines;
• Currently, calls to buy on social media are strangely calm, signaling a possible upside for Bitcoin before a potential correction.

As Santiment pointed out:

“This chart is essential to know when to buy (when the crowd panics) and when to sell (when it becomes greedy)“.

https://twitter.com/santimentfeed/status/1867727870744735988

In short, to hope to ride the next wave of BTC, it is better to keep a close eye on collective psychology.

The price of BTC: well-orchestrated volatility

With a price hovering around $100,000, Bitcoin is playing a balancing act. The recent increase in the Consumer Price Index (CPI) to 2.7% year-on-year fuels speculation about a potential interest rate decrease by the Federal Reserve. If these forecasts are confirmed, they could provide BTC with a tailwind.

However, investors must stay vigilant: the price of BTC is anything but predictable. Institutions like Bitwise and Bernstein are betting on a peak of $200,000 by 2025, while Fundstrat sees even bigger with a forecast of $250,000.

But in the meantime, Bitcoin is expected to continue to navigate between spectacular rises and brutal corrections.

Thus, according to VanEck, 2025 promises surprises for Bitcoin: a summer correction of 30% followed by a final sprint to $180,000. Surprises will undoubtedly be on the agenda.