BTC 'Christmas market' is about to happen?! The market is optimistic and is expected to surge to $120,000 next year

Bitcoin hit a new high early this morning (17th), reaching $107,000 at one point. Market sentiment is optimistic, with high expectations for the 'Christmas market', and traders are also targeting a price of $120,000.

Multiple positive factors boost Bitcoin

Recently, the key factors supporting the surge of Bitcoin include the widespread rumor that the President-elect of the United States, Donald Trump, will establish a 'Federal Bitcoin Reserve,' as well as public companies such as Riot Platforms and MicroStrategy investing billions of dollars in Bitcoin successively.

At the same time, the market is also optimistic about the direction of the United States' cryptocurrency policy, further driving a large amount of funds into Bitcoin spot ETF, boosting the surge in Bitcoin prices.

Augustine Fan, research director of SOFA Insights, pointed out that the influx of traditional financial capital has become a key force driving the price and market sentiment of Bitcoin, which is different from previous cryptocurrency bull markets.

With more and more traditional financial institutions incorporating digital assets into their investment portfolios, this trend will only continue to grow and become a new driving force in the market.

"Christmas Quotes" fermentation! Bitcoin's December trend is worth looking forward to

Technical analysis shows that Bitcoin is currently showing a pattern of 'continuously raising lows,' indicating a robust bullish trend and forming a bullish pattern called 'flag consolidation.' This is often a prelude to further upward movement.

In addition, the performance of Bitcoin in December is also worth looking forward to. According to historical data, in the 9 years from 2015 to 2023, Bitcoin has risen in December for 5 years, with the astonishing increase of 46.92% in 2020, which can be called the "strongest Christmas gift".

Market experts point out that the "seasonal cycle" of Bitcoin prices may seem random, but there are actually traces behind it.

For example, during the tax season from April to May, some investors choose to take profits, leading to a market pullback; and as the year-end Christmas holidays approach, the influx of funds injects vitality into the market, often pushing prices higher.

Next stop $120,000? BTSE COO: Bitcoin bull market is just getting started

As the bullish sentiment continues to heat up, some traders believe that the upward trend of Bitcoin has just begun, and even raised the target price for next year to $120,000.

Cryptocurrency exchange BTSE's COO Jeff Mei is straightforward:

The potential for Bitcoin to rise is far from reaching its peak. We expect that by the end of 2025, Bitcoin is expected to soar to $125,000.

Although some people in the market believe that the recent rise in Bitcoin over the past month has fully reflected the positive factors, we believe that this upward trend is only the prelude, and the real bull market is just beginning.

Jeff Mei further pointed out that institutional investors, family offices, and high-net-worth individuals often need time to adapt to the concept of allocating 1% to 3% of their investment portfolios to Bitcoin and cryptocurrencies. Once this trend forms, the inflow of funds into the cryptocurrency market may experience exponential growth.

In addition, Jeff Mei also mentioned that Trump's cryptocurrency-friendly policy, global interest rate trends, and China's economic stimulus measures will all be strong drivers behind this wave of market trends.

The Bitcoin 'Christmas market' is about to start? The market is optimistic about 'prosperity until next year' hitting $120,000. This article was first published in 'Blocktimes'.