Bitcoin is poised for another surge past $100,000 – here are its next potential targets

Excitement and speculation about a significant price increase for BitcoinThe largest digital asset after recently rising to the $100,000 mark are quickly emerging in the crypto community, with crypto enthusiasts pointing to new all-time highs in the coming weeks.

Next jump for Bitcoin from the $100,000 mark

With the market’s renewed bullish momentum, IC News, an informative platform, highlighted that Bitcoin has regained significant strength as the crypto asset prepares for another breakout rally from the key point Price level $100,000.

The platform’s forecast is based on several key technical indicators that suggest a recovery beyond the $100,000 mark is imminent. This forecast suggests that BTC’s resurgence above the above-mentioned levels could signal a new phase of its uptrend in the short and long term, which could see the asset reach new all-time highs.

Considering Fibonacci expansions of BTCIC News expects another rally of around 15% to the $115,000 level, expressing confidence in its near-term potential. “Based on Fibonacci extensions, the immediate target for Bitcoin remains at $115,000, representing a further 15% increase from the $100,000 level,” the platform explained.

Additionally, the platform highlighted that if the Relative Strength Index (RSI) falls below the overbought zone, a strong breakout could occur that could push prices up to $124,500, This is three times higher than the $90,500 Fibonacci extension swing low.

While Bitcoin has fallen below the $100,000 mark, Negentropic, a crypto analyst and investor, believes that the market may have returned to its original state. Negentrop Claims The market is back where it started, struggling against the $98,500 resistance point, especially after Bitcoin surged above $100,000 the flash crash This caused the price to rise back to $91,000 before rising to $97,000.

Addressing the aftermath of the development, he pointed out that spot buying was the main reason for BTC’s recovery. As a result, Bitcoin will continue its climb above $100,000, aiming to reach between $104,000 and $105,000 in the near term once the digital asset breaks the $98,500 resistance level.

A continued withdrawal from crypto exchanges

As Bitcoin heads toward $100,000, a notable shift is occurring BTC holders or investorsThe sentiment was recognized and sparked speculation about an impending price rally. CryptoQuant, a leading on-chain data platform, reported that there has been a significant decline in BTC in crypto exchanges in the last few weeks.

After examining Bitcoin Exchange Netflows, a metric that tracks investor behavior and the amount of BTC moving in and out of exchanges, CryptoQuant found that there have been negative outflows, particularly since October. This significant decline shows this Big investors or whales are choosing to store their coins long-term rather than on crypto exchanges, which could reduce selling pressure and create an imbalance between supply and demand in favor of BTC.