FameEX Hot Topics | Traders: BTC Needs to Reclaim $106K for Fresh Price Discovery

Crypto analysts and traders have weighed in on Bitcoin’s next possible moves, suggesting that reclaiming $106,000 will be pivotal for confirming another bullish phase. Pseudonymous trader Pentoshi explained that hitting this price point could spark a new round of price discovery. However, a drop to $85,000 remains a realistic scenario in the eyes of some market watchers.

Pentoshi pointed out a critical risk: if Bitcoin dips below the $92,000-$94,000 support range, the next likely level of support is around $85,000. This sentiment aligns with recent comments from crypto analyst AlejandroBTC, who noted that Bitcoin’s current trajectory might lead to that lower target. Despite this potential downside, Pentoshi remains cautiously optimistic, emphasizing that as long as Bitcoin holds above its established support levels, the overall trend could stay positive.

Not all analysts agree on where Bitcoin might find its local bottom. Some view $85,000 as an overly optimistic support level, cautioning that the cryptocurrency may need to go even lower before it can regain upward momentum. Pseudonymous trader Mister Crypto has said that $90,000 would prompt him to open a large new position, while another trader, Donny, described Bitcoin’s chart as structurally sound but still too early to call a definitive direction. Donny noted that upcoming market conditions will play a crucial role in determining Bitcoin’s next significant move.

Meanwhile, trader AshCrypto expressed a more bullish short-term outlook, predicting that Bitcoin might reach a new all-time high by March. He cited historical data from CoinGlass, showing that March has traditionally delivered strong returns, with an average gain of over 13% since 2013. Bitcoin’s previous all-time high of $109,000 occurred in January 2025, shortly before Trump’s inauguration, and AshCrypto believes the coin has a strong chance of surpassing that level again soon.

While many are focused on short-term price movements, some commentators maintain a longer-term perspective. ARK Invest CEO Cathie Wood, for instance, reaffirmed her bullish stance on Bitcoin’s future. Wood believes Bitcoin could reach $1.5 million by 2030, thanks to the increasing institutional adoption of the asset. She argued that this growing acceptance strengthens Bitcoin’s long-term outlook, making it a solid candidate for continued growth despite recent volatility.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.