PK Press Club–Bitcoin extended gains Wednesday after a strong rebound in previous sessions amid a bullish outlook for the cryptocurrency, while investors shrugged off concerns about U.S. interest rates ahead of a report on inflation.
rose 2.1% to $97,003.4 as of 1:50 a.m. ET (06:50 GMT).
The token rose sharply on Tuesday, surpassing the $97,000 mark, but gave up some of the gains later in the day.
Bullish outlook and whale trading push Bitcoin higher
Several cryptocurrency analysts maintain a bullish outlook on Bitcoin’s price trajectory, forecasting significant growth this year.
Analysts predict that the price of Bitcoin could rise to between $175,000 and $461,000 by 2025.
Tom Lee, Bitcoin advocate and head of research at Fundstrat, recently said that despite near-term volatility, Bitcoin’s outlook for 2025 remains positive with an end-of-year price target between 200,000 and 250,000 dollars.
Additionally, some analysts believe that favorable cryptocurrency policies expected from the new Donald Trump administration could propel Bitcoin’s value as high as $400,000. The creation of a strategic Bitcoin reserve and the potential for increased mainstream adoption are cited as key drivers of these optimistic predictions.
On-chain analytics firm Santiment said 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 over hawkish Federal Reserve policy ahead of key Consumer Price Index (CPI) data due later on Wednesday, with the central bank already signaling fewer interest rate cuts in 2025 at its December meeting.
Crypto Price Today: Most Altcoins Rise, XRP Soars
In the broader cryptocurrency market, most altcoins surged far more than Bitcoin, reflecting heightened sentiment of risk.
The world’s No. 2 crypto rose 1.4% to $3,225.25.
The world’s No. 3 crypto jumped 12.2% to $2.8387.
was 1.6% higher and rose 2.2%, while climbing 6.7%. Among meme tokens, jumped 4.4%.
