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.