Saylor Projects Bitcoin Price Target of $21 Million by 2046
Michael Saylor, a prominent advocate for Bitcoin, projected a price target of $21 million per Bitcoin in 21 years during the BTC Prague 2025 event. This follows his previous forecast of $13 million, influenced by political developments such as Donald Trump's potential presidential win and the U.S. government's growing acceptance of Bitcoin.
Saylor highlighted the significance of three crypto bills advancing in Congress and state efforts to establish crypto reserves, noting these as major advancements for Bitcoin.
On-Chain Liquidity Faces Reset
Analyst Willy Woo referenced research from Swissblock indicating a marked decline in on-chain liquidity, which typically signals reduced market participation and heightened price vulnerability. Although capital is flowing back into Bitcoin, overall activity is down, with prices increasingly swayed by on-chain flows rather than macroeconomic factors.
Swissblock stated that while the long-term bullish structure remains intact, a shift to a risk-off signal could indicate trouble.
Crypto Dan from CryptoQuant reported a rise in realized prices, showing sustained buying pressure at higher price levels, suggesting confidence in long-term growth despite current market uncertainties.
Chart Analysis: Fibonacci Targets and Liquidity Signals
Bitcoin is currently in a consolidation phase after reaching a peak around $113,038. Key Fibonacci support levels include:
- 0.236 retracement at $107,784
- 0.0 retracement at $102,837
The next bullish target is set at the 1.618 extension level of $119,341, should Bitcoin regain upward momentum.