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Bitcoin price today: jumps near $100k amid bullish outlook, whale trades

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Published Jan 15, 2025 14:58 Updated Jan 15, 2025 23:24

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Bitcoin price today: jumps near $100k amid bullish outlook, whale trades

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Investing.com-- Bitcoin continued rising on Wednesday after a sharp rebound in the previous sessions amid a bullish outlook for the cryptocurrency, while investors shrugged off concerns surrounding the U.S. interest rates ahead of an inflation report.

Bitcoin advanced 3.3% to $99,553.0 by 10:06 ET (15:06 GMT).

The token had risen sharply on Tuesday, rising above the $97,000 mark, but gave away some of the gains later in the day.

Bullish outlook, whale trades push Bitcoin higher

Several cryptocurrency analysts maintain a bullish outlook on Bitcoin's price trajectory, forecasting significant growth this year.

Analysts project Bitcoin's price could soar to between $175,000 and $461,000 by 2025.

Bitcoin advocate Tom Lee, head of research at Fundstrat, recently said that despite the short-term volatility, Bitcoin's outlook for 2025 remains positive with an end-of-year price target of $200,000 to $250,000.

Additionally, some analysts believe that favorable cryptocurrency policies anticipated from the incoming Donald Trump administration could propel Bitcoin's value to as high as $400,000. The establishment of a strategic Bitcoin reserve and the potential for increased mainstream adoption are cited as key drivers for this optimistic forecast.

On-chain analytics firm Santiment said that Bitcoin whales holding between 10 and 10,000 BTC have added 2,997 BTC to their holdings since January 1, 2025, reflecting growing confidence in Bitcoin's long-term potential.

Traders shrugged off fears related to the hawkish Federal Reserve ahead of key Consumer Price Index (CPI) data due later on Wednesday, as the central bank had already signaled fewer interest rate cuts in 2025 in its December meeting.

Bitcoin could drop to $80k amid macro sell-off, bank says

Bitcoin and other cryptocurrencies have declined amid a broader macroeconomic sell-off, with Standard Chartered (OTC:SCBFF) warning of potential additional losses if forced selling accelerates.

According to the bank’s report on Monday, investors who gained bitcoin exposure after the U.S. election in November are now “only breaking even,” creating a risk that panic or forced selling could amplify the downward trend. This group includes exchange-traded fund (ETF) buyers and MicroStrategy (MSTR), a significant BTC holder.

“The risk of mark-to-market pain is building,” Geoff Kendrick, Standard Chartered's head of digital assets research, said in a note seen by CoinDesk.

The report highlighted that if bitcoin were to fall below the critical $90,000 threshold, it might drop another 10%, approaching the low $80,000s. Such a move would likely pressure other digital assets as well.

Despite the current market turbulence, Standard Chartered remains optimistic about Bitcoin's long-term trajectory, suggesting that the asset could reach $200,000 by year-end. The bank attributes this potential rise to the revival of institutional interest under the new Trump administration.

In the short term, however, the bank advises waiting for the retracement to complete before adding more bitcoin to portfolios.

Crypto price today: most altcoins rise, XRP soars

In the broader cryptocurrency market, most altcoins jumped much more than Bitcoin, reflecting an increased risk-on sentiment.

World no.2 crypto Ether rose 4% to $3,331.73.

World no.3 crypto XRP surged 10.7% to $2.86.

Solana was 4.7% higher, and Polygon rose 5.2%, while Cardano climbed 7.2%. Among meme tokens, Dogecoin jumped 4.4%.

Ayushman Ojha contributed to this report.

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Bitcoin price today: jumps near $100k amid bullish outlook, whale trades

Bullish outlook, whale trades push Bitcoin higher

Bitcoin could drop to $80k amid macro sell-off, bank says

Crypto price today: most altcoins rise, XRP soars

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