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Bitcoin Price Volatility Surges Amid $85,000 to $90,000 Range
Recent volatility has surged in the Bitcoin market, with prices fluctuating between $85,000 and $90,000. This reflects ongoing investor uncertainty amid a broader correction trend since October.
Potential Bitcoin Surge to $100,000
- Market analyst Ted Pillows suggests Bitcoin may reach $100,000, based on historical patterns similar to those seen in 2021-2022.
- The current chart shows a head-and-shoulders pattern, indicating a potential short-term gain of 13.6%.
- If the pattern completes, a price drop could follow, potentially bottoming at $65,000 after a 35% decline.
Current Market Status
- Bitcoin is trading at $88,168, up 3.16% in 24 hours.
- Daily trading volume decreased by 14.81%, totaling $44.83 billion.
- Over 11,000 BTC were transferred to exchanges, indicating significant selling intent.
- Exchange balances increased from 2.753 million BTC to 2.764 million BTC, comprising 13.84% of the circulating supply.