Bitcoin holders might want to adjust their price expectations for 2025, as a Bitcoin analyst claims that $110,000 has become a robust new bottom for Bitcoin.
“You can start elevating some of your targets and asking, “Well, since we’ve established 110 as the floor, where do we advance from here?” James Check stated in a YouTube interview on Thursday.
“An enormous base has formed at $2 trillion,” he mentioned, referring to Bitcoin’s (BTC) market capitalization, currently around $2.42 trillion. “We verified a trillion in 2024 and $2 trillion in 2025, so the key question now is how many trillions,” he added.
Bitcoin at $95,000 serves as a floor, not a ceiling
“More than sixty percent of the capital ever invested in Bitcoin is above $95K,” Check noted. “It’s more of a floor than a ceiling,” he continued, stressing that holders are unlikely to sell Bitcoin for less than their purchase price.
Check asserted that the “most logical progression” is toward $150,000, which would equate to an approximate $3 trillion market cap. “It’s a classic binary setup where you need to hold two perspectives simultaneously,” he concluded.
In December 2024, Alex Thorn, Galaxy Digital’s head of digital research, predicted that Bitcoin could hit $150,000 in 2025, potentially soaring to $185,000.
With numerous bullish predictions this year suggesting targets as high as $250,000, market participants are evaluating how high Bitcoin could climb and the timeframe involved.
Bitcoin bulls maintain control, according to Check
However, Check mentioned that the market has “no justification” for dropping to $95,000. “We have demonstrated our desire for higher prices. The bulls are in command,” he asserted.
“If not, then the bulls are weak, and we might be in for a prolonged downturn,” he added.
Related: Bitcoin faces potential squeeze as record $88B open interest raises ‘flush’ concerns
Currently, Bitcoin is priced at $121,392, up just 0.80% over the past week, according to CoinMarketCap. A rise to $150,000 would indicate a 23.50% increase from its current value.
Capriole Investments founder Charles Edwards also suggests that a move to $150,000 may be imminent. On Oct. 2, he noted that Bitcoin reclaiming the $120,000 psychological threshold could lead to a “very rapid” surge toward a new all-time high of $150,000.
Magazine: EU’s privacy-infringing Chat Control bill delayed — but the battle isn’t finished
