Bitcoin extended its rally on Wednesday, climbing 3.3% to $99,553 by 10:06 ET, following a sharp rebound earlier in the week. The cryptocurrency surpassed $97,000 on Tuesday but later retraced some gains.
Analysts remain optimistic about Bitcoin's trajectory, forecasting substantial growth in the coming years. Predictions suggest Bitcoin could soar to $175,000–$461,000 by 2025. Fundstrat’s Tom Lee reiterated this bullish outlook, projecting an end-of-year price between $200,000 and $250,000 for 2025. Favorable crypto policies under the incoming Trump administration, including the potential establishment of a Bitcoin reserve, are also fueling these positive expectations.
On-chain data from Santiment highlights growing confidence among Bitcoin whales, as wallets holding 10–10,000 BTC added 2,997 BTC since January 1, 2025. This accumulation underscores long-term optimism despite short-term market fluctuations.
Investors largely ignored concerns over U.S. interest rates ahead of a key inflation report. The Federal Reserve’s December signals for fewer rate cuts in 2025 helped ease market jitters.
However, risks remain amid macroeconomic pressures. Standard Chartered warned that if Bitcoin falls below the critical $90,000 level, it could drop another 10%, nearing $80,000. The bank emphasized potential losses among recent ETF buyers and large holders like MicroStrategy, which could amplify selling pressure.
Despite these risks, Standard Chartered remains bullish on Bitcoin’s long-term potential, predicting it could hit $200,000 by year-end, driven by institutional interest.
In the broader crypto market, altcoins surged. Ether rose 4% to $3,331.73, while XRP soared 10.7% to $2.86. Other notable gainers included Cardano (+7.2%) and Dogecoin (+4.4%), reflecting a shift toward risk-on sentiment.
Bitcoin's resilience and whale activity continue to capture investor attention, reinforcing its role as the leading cryptocurrency.