Los Angeles, USA — Bitcoin don achieve significant milestone, as e touch $107,000 for the first time in four months on Tuesday. E show strong rebound after significant dips last month due to geopolitical tensions and financial uncertainties.
According to reports from CoinMarketCap and various cryptocurrency exchanges, Bitcoin’s fresh surge comes as President Trump ease trade tensions, allow investors to feel more confident about risk-on assets. At $107,000, Bitcoin dey just 1.5% away from im all-time high of $108,786 wey e set back in January, during the inauguration of President Trump.
As e dey rise, other cryptocurrencies dey follow the trend, with some like Ethereum climbing over 45% in the past month. Analyst Avocado Onchain from CryptoQuant highlight say di current rally dey different from previous ones. He noted that unlike before, market buy volume stable without excessive leverage, showing caution among traders.
“Dis stability dey signify we dey see healthy growth for Bitcoin, without di sharp spikes wey dey lead to sudden corrections in di market,” Avocado talk. With long-term holders still dey accumulate Bitcoin, sentiment don dey improve as investors look forward to more growth in di future.
Moreover, a CryptoQuant analyst, Amr Taha, express optimism about Bitcoin’s favorable MVRV ratio, as e still dey below di critical level of 2.75. Dis ratio indicate say Bitcoin could still dey undervalued, presenting potential for further price increase if demand remain strong.
Meanwhile, liquidity don dey drop as many investors dey withdraw their Bitcoins from Binance. Recent data show say more than 3,090 BTC, valued at about $325 million, don leave di exchange. Dis move dey reduce liquid supply, suggesting upward price momentum in future.
Even though Bitcoin return to $105,506 on Tuesday, traders and market analysts dey expect say di upward momentum go continue. As more bullish predictions dey emerge, professionals dey line up their forecasts for di crypto market. Di next significant price targets for Bitcoin dey at $116,000 and beyond if di uptrend continue.
In di words of analyst Michaël van de Poppe, di bullish sentiment too strong as he noted di upward movement don come “faster than expected.” He predict say Bitcoin fit reach new highs, maybe even as much as $200,000 as di market continue to mature.
