Bitcoin Analyst Warns Bear Market If $125K Resistance Fails
Key Insights for Investors:
- BTC recently reached record highs above $125,000, driven by demand for U.S.-listed spot ETFs and comments from Japan's prime minister.
- The current price has retreated to $124,000, indicating a crucial resistance level at $125,000.
- Ledn CIO John Glover predicts that surpassing $125,000 could lead to further gains up to $145,000 by early next year.
- Failure to break $125,000 may signal the start of a bear market according to Glover's Elliott wave analysis.
- BTC has surpassed $120,000 three times since July, with the latest rally showing more stability, suggesting strong non-institutional demand.
Investors should monitor the $125,000 level closely as it represents a critical decision point for future BTC price movements.