bullish

Bitcoin

The crypto markets are gearing up for major price action as the star token Bitcoin, with over 60% of dominance, is preparing for the next bullish move. After rising close to $93,500, the price is closely consolidating within a narrow range but above the gained levels. This indicates the bulls remain vigilant over the rally and hence may initiate a fresh bullish wave soon.&nbsp;   
Regardless of the growing strength of the rally, the star token is still primed for an extended bullish action. The data from Cryptoquant suggests the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">BTC price</a> is about to enter a euphoric phase, which may last from 3 to 12 months ahead, indicating that the price may find its new highs probably much above $100K.&nbsp;   
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The CEO of Cryptoquant, Ki Young Ju, <a href="https://x.com/ki_young_ju/status/1858787640864371144" target="_blank" rel="noreferrer noopener nofollow">shared the UTXOs bands</a>, which indicates more than 99.3% of them are now in profit. UTXO stands for unspent transaction output, which is the amount of crypto left over after a transaction. A UTXO is in profit if the current price is higher than the price at the time it was created. He further says that the phase began 2 weeks ago and hence suggests shorting at this time could either catch the top or shorting at the bottom of a parabolic bull run.&nbsp;   
The global market capitalisation has just printed a new ATH at $3.09 trillion and it appears to be just the beginning. The levels are expected to consolidate for a while at the moment, which is believed to trigger a fresh run towards $4 trillion. However, as per a popular market analyst, <a href="https://x.com/CryptoMichNL/status/1858887964383715713" target="_blank" rel="noreferrer noopener nofollow">Michael van de Poppe</a>, the peak for the market capitalisation in the upcoming bull run could be somewhere between $10 trillion and $15 trillion. In such a case, the Bitcoin (BTC) price may find it’s highs much above $150K to $180K somewhere in 2025.&nbsp;

Global Crypto Market Cap May Hit $10T—How Much Will 1 Bitcoin Cost Then?

CoinPedia News

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