Bitcoin’s recent surge past $108,000 shows growing institutional confidence and national adoption, with Bitfinex analysts projecting potential prices of $140,000 to $200,000 by mid-2025. This forecast comes as various countries implement strategic reserve allocation policies for the cryptocurrency.
It is noteworthy that Bitcoin remains steady above the $100k mark for the fourth consecutive day. The ongoing bull market demonstrates high institutional demand, primarily driven by spot ETF anticipation and direct Bitcoin accumulation. Bitfinex analysts noted that historical patterns suggest that the market is in the mid-cycle following the April 2024 halving. They also stated that market peaks typically occur 450 days post-halving, pointing to a potential summit in the third or fourth quarter of 2025.
National adoption has played a crucial role in Bitcoin’s recent price action. El Salvador was the first country to adopt Bitcoin as legal tender. The decision has been followed by several nations implementing strategic reserve policies. Argentina’s consideration of Bitcoin reserves amid economic challenges and Paraguay’s growing mining operations have contributed to this trend.
Ethereum Whales Control 57%: What Does This Mean for Price?On-chain data from Santiment reveals interesting holder behavior patterns around the $100,000 milestone. Short-term holders, defined as those holding Bitcoin for 90-365 days, engaged in major profit-taking above $100,000. In contrast, long-term holders showed notable activity between $90,000 and $100,000 but have remained relatively inactive above the $100,000 threshold.
This divergence in holder behavior suggests a potential setup for another price peak. Long-term holders’ reduced selling pressure above $100,000 indicates strong conviction in higher valuations. However, short-term holders’ profit-taking could create opportunities for new market participants to accumulate positions.
Bitfinex analysts emphasize that historical data supports their bullish outlook, noting that post-halving years traditionally experience the strongest rallies. The current cycle’s institutional participation levels and national adoption rates distinguish it from previous bull markets.
The analysis suggests that while short-term volatility may persist, the overall trend remains strongly bullish. The projected $200,000 target represents a potential doubling from Bitcoin’s price of $104,000 at press time.
