Bitcoin Price Prediction – Why BTC Is Likely Headed for a Retest of $100K

Highlights:

• Bitcoin is range bound between $98,848 resistance and $95,086
• Rally through $98,848 could push a new rally to $100k
• Increased institutional uptake of Bitcoin likely to trigger a bullish breakout

As is the case with other cryptocurrencies, Bitcoin (BTC) has had a rough couple of weeks. Today, Bitcoin has dipped by 1.87% to trade at $96,179. However, trading volumes are on the rise, up by 13% in the day to stand at $37.54 billion. This indicates that despite the ongoing price weakness, investor interest in Bitcoin remains high.

Bitcoin Price Outlook Brightens as Funding Rate Stays Positive

A major source of optimism as far as market sentiment is concerned is Bitcoin’s funding rates which have been positive on different exchanges. It means investors on most platforms are willing to spend money on Bitcoin. It reinforces the optimism that Bitcoin price is set to make a recovery and reach new all-time highs in the near term.

Aggregated Funding Rate from 11 Exchanges Remains Positive Despite BTC Drop

Even with Bitcoin's recent decline, the average Funding Rate is still positive, indicating that more traders are betting on the upside (long) rather than the downside (short). This means that, overall,… pic.twitter.com/tmRZtV5yay

— Alphractal (@Alphractal) February 9, 2025

Coinbase Premium Index Turns Positive

Like several of the other Bitcoin metrics, the Coinbase Premium Index also suggests renewed investor interest in Bitcoin. The index has turned positive, which indicates that U.S. institutional investors have increased their demand for Bitcoin. Due to this change, Bitcoin has increased from around $94,000 to approximately $97,000. For the crypto to sustain long-term upward movement, it will need to increase above the $100,000 mark.

Coinbase Premium Index Analysis – Institutional Sentiment Shift.

📊 Key Observations:

Institutional Buying Resumes—The Coinbase Premium Index has turned positive after sustaining negative values, indicating renewed U.S. institutional demand. 🧵⤵️

Price Reaction – Bitcoin… https://t.co/u4HIzO6BCd pic.twitter.com/VD8QOX4G53

— IT Tech (@IT_Tech_PL) February 10, 2025

Goldman Sachs Increases Bitcoin ETF Holdings

Big banks are also increasing their investments in Bitcoin. Goldman Sach’s most recent 13F filings show a notable increase in institutional holding in Bitcoin, which has sharply increased over the years. As of the end of the fourth quarter of 2024, the investment bank held $1.27 billion in BlackRock’s iShares Bitcoin Trust ETF. That’s an 88% increase relative to the previous quarter. Apart from this, Goldman also increased its holdings in the Fidelity Wise Origin Bitcoin Fund by 105%.

Mike Novogratz Predicts Bitcoin Boom

Key industry players are also increasingly bullish on Bitcoin’s long-term prospects. Mike Novogratz, the CEO of Galaxy Digital, expressed his optimism for Bitcoin and cryptocurrency as a whole during the ONDO Summit 2025.

He claimed that Bitcoin has the opportunity to be incorporated into governmental balance sheets, which will reinforce its credibility as a store value. He cited the growing power of stablecoins and predicted that major crypto firms will be listing on NASDAQ in the coming months.

My conversation with @JustinUS & @dan_pantera

2:36:00 – 3:05:00https://t.co/crFoYz2y51

— Mike Novogratz (@novogratz) February 10, 2025

The Growing Popularity of Bitcoin in Everyday Life

Novogratz also noted the attitude of policymakers toward cryptocurrencies is improving. He mentioned that the attendance of crypto leaders at major crypto-events was a good sign the sector was gaining traction. As the new SEC head takes over, and regulations get clearer, Novogratz noted, Bitcoin adoption could increase. This adds to the potential for Bitcoin to rally to new highs in the foreseeable future.

Technical Analysis – Bitcoin Price Range-Bound Intra-Day

From the charts, Bitcoin is range-bound between the $98,848 resistance and $95,086 support. However, bullish momentum is on the rise, indicative of the increasingly bullish tone from institutional money.

If bulls can push Bitcoin price through the $98,848 resistance, then a rally to $100k or higher could follow in the short term. However, if bears take control and push Bitcoin through the $95,086 support, then a correction to $93,373 could follow. Of these two scenarios, Bitcoin is likely to break out bullish due to rising optimism around it from institutional money.

Despite the recent volatility, Bitcoin remains a focus for many institutional players. The market’s positive funding rates, large ETF purchases, and growing bullish sentiment from investors prove that Bitcoin is still king. While there is some short-term volatility, the long-term picture for the cryptocurrency market is positive, especially considering the $100,000 price point.