Bitcoin (BTC) Poised to Hit a New ATH Soon, Says Analyst
2025-02-13
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Bitcoin (BTC) rebounded from its February low of under $92K, with some analysts predicting a potential rise to a fresh peak.
On the other hand, recent exchange inflows signal increased selling pressure, while rising US inflation may delay Fed rate cuts, potentially weighing on BTC.
TL;DR
BTC Bulls to Retake Control?
The primary cryptocurrency experienced a solid start in 2025, with its pricerisingto a new all-time high of almost $110,000 on January 20 (hours before Donald Trump’s inauguration). Since then, though, Bitcoin (BTC) has been on a downtrend, brieflytankingbelow $92,000 during the crypto market crash on February 3 and currently trading at around $96,200 (per CoinGecko’s data).
Several analysts believe it is time for the bulls to step in again and push the valuation to fresh peaks. The X user CRYPTOWZRD claimed that BTC’s daily candle closed “strongly bullish today,” expecting the uptrend to continue.
“I believe the correction is over now, and Bitcoin should be pushing above the $100,000 resistance target. Above the $100,000 resistance target, there will be a psychological value for retail traders, leading them to pour more money into the market,” they suggested.
The analyst thinks a breakout of the next immediate major resistance target of $108,000 is “very likely,” following which the crypto community might witness a new ATH.The Bears Might Stay a Bit More
Contrary to the bullish predictions outlined above, some on-chain factors indicate that BTC could continue to underperform in the short term.
According to CryptoQuant, the asset’s exchange netflow has been predominantly positive in the last week. This suggests a possible shift from self-custody methods to centralized platforms, which in turn increases the immediate selling pressure.
Meanwhile, the latest US CPI data showed a slight increase in the inflation rate in the world’s largest economy. The Federal Reserve considers this when deciding its next move regarding the adjustment of interest rates. Rising inflation may prompt the Fed to postpone a rate cut, which could be bad news for the cryptocurrency market.
After all, lowering the benchmark makes money-borrowing easier and might increase the interest in riskier assets such as Bitcoin (BTC).
Ali Martinez also gave his two cents on the current market landscape. He maintained that BTC’s most important resistance level is $97,530, adding that support below $92,110 is weak. Martinez hinted that falling under that zone may lead to a substantial plunge, as there is a gap between $90,000 and $70,000.