“1 Bitcoin” Trends on X as Price Hovers Near $105,000: Analysts Eye $120K Breakout or $98K Correction

Bitcoin has once again captured the world’s attention, with “1 Bitcoin” trending on X as the cryptocurrency’s price fluctuates between $103,410 and $105,800. The renewed buzz comes amid a surge in trading activity and heightened debate among analysts about whether the world’s largest digital asset is poised for a fresh all-time high or a short-term correction.

Market Snapshot: Volatility at Historic Highs

As of Sunday, Bitcoin is trading at approximately $104,518, marking a 1.3% daily gain and keeping the asset within striking distance of its recent year-high of $109,358. The market cap stands at a staggering $2.06 trillion, with 24-hour trading volumes exceeding $24 billion. This surge follows a month-long rally that saw Bitcoin gain over 40%, reinforcing a robust bullish structure on technical charts.

Analyst Predictions: $120,000 in Sight-If Support Holds

Leading crypto analysts remain divided on Bitcoin’s next move. Michaël van de Poppe, a widely followed market strategist, argues that Bitcoin’s uptrend remains intact as long as the price stays above the crucial $98,000 support. He identifies the $110,000–$115,000 range as a key accumulation zone, suggesting that a sustained break above this level could propel Bitcoin toward the $120,000 mark.

Ali Martinez, another prominent analyst, points to on-chain metrics like the Cumulative Value Days Destroyed (CVDD), indicating that Bitcoin is in the midst of a second accumulation phase. Martinez forecasts a potential cycle peak at $120,000-provided the $90,000 support remains unbroken.

Whale Activity and Institutional Flows

Despite the bullish sentiment, large holders-so-called “whales”-have started to take profits as Bitcoin crossed the $100,000 threshold. In just 72 hours, wallets holding between 1,000 and 10,000 BTC offloaded over 30,000 coins, sparking concerns of a possible near-term dip. However, analysts note that institutional demand, particularly through ETFs and leveraged long positions, continues to provide a strong floor for the market.

Social Media Frenzy and Broader Implications

The “1 Bitcoin” trend on X reflects growing public fascination with Bitcoin’s price milestones and its evolving role as a digital store of value. The surge comes amid macroeconomic uncertainty, with investors increasingly viewing Bitcoin as a hedge against fiat currency devaluation and traditional market volatility.

Short-Term Scenarios: Key Levels to Watch

• Bullish Case: If Bitcoin maintains support above $98,000 and breaks through $110,000–$115,000, analysts expect a run toward $120,000 and potentially new all-time highs.
• Bearish Case: A failure to hold the $98,000 level could trigger a correction, with technical analysts eyeing $92,000–$95,000 as the next major support zone.

Outlook

With Bitcoin’s price action dominating headlines and social media, all eyes are on the next decisive move. Whether the cryptocurrency surges to $120,000 or faces a pullback to $98,000, the coming days are set to be pivotal for traders, investors, and the broader digital asset ecosystem.