- After reaching $102,412 in January, Bitcoin has fallen under $100,000. Some experts think it could briefly hit $95,000 before going back up.
- A U.S. job report on February 7 might impact Bitcoin’s price. If the economy looks weak, the Federal Reserve might cut interest rates.
- Even with the recent drop, experts believe Bitcoin could reach $160,000 to $180,000 by the end of 2025, especially with more interest in Bitcoin ETFs.
Bitcoin Falls Below $100,000, but It Might Be a Short-Term Drop
For the first time since 27 January, bitcoin fell under $100,000. Although closing January with a record value of $102,412 is great, others feel it would briefly go back to $95,000 as an analyst has suggested.
Bitget Research’s chief analyst pointed out that, at this rate, $95,000 stands as a fundamental support level for Bitcoin. According to him, Bitcoin will move during the coming weeks based on any key issues in the labor market trend, concerns or views regarding the Federal Reserve policies, and overall market sentiment.
During this period, the U.S. Bureau of Labor Statistics will release its job market report on February 7, which can have a great impact on the direction of Bitcoin. Should data indicate economic weakness, it should increase the prospect of a federal interest rate cut by the Federal Reserve, benefiting Bitcoin.
Experts Believe Bitcoin Could Hit New Highs in 2025
While some analysts speculate that this could be a “bear trap”-a short term drop before it climbs higher-in a bear trap, controlled selling causes a decline, which actually tricks traders that a larger price drop is eminent. But experts forecast that Bitcoin can go as high as between $160,000 to $180,000 toward the end of 2025. On of the main bright spots is growing interest in spot bitcoin ETFs. At this point in time, these funds have expanded to over $125 billion in total assets, just a year after launching in the U.S. This increasing institutional interest has been considered very promising about the appreciation that Bitcoin is going to make.
While Bitcoin is experiencing short-term price sways, most say this correction is normal and might help the market stabilize for further growth. Some investors believe it is the best time to buy, while others think that more losses might be expected since uncertainty has led to increased volatility in the crypto market, making investors cautious. Many experts however believe that Bitcoin will recover soon. Nonetheless, still, the whole cryptocurrency market highly risks it for investors who shall always prepare losses before taking their decisions.
