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“Bitcoin’s all-time high will spark renewed interest in crypto from institutions and regulators alike and should reinvigorate the entire crypto sector in 2025,” Dean Tribble, CEO of layer-1 network Agoric, told Cointelegraph.

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In 2024, Bitcoin surpassed $100,000 per coin for the first time as investors poured more than $100 billion into spot BTC exchange-traded funds (ETFs).

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“We have spoken with dozens and dozens of large Bitcoin DeFi users and funds keen to put their Bitcoin holdings to work earning yield,” Zamyatin said.

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Hougan estimates Bitcoin staking represents a $200 billion market opportunity. More generally, Bitcoin DeFi’s total value locked (TVL) could increase by approximately 300x, Alexei Zamyatin, co-founder and CEO of Build on Bitcoin, told Cointelegraph.

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In a dedicated X thread on Dec. 15, analytics account Bitcoindata21 called $140,000 a “base case” for Bitcoin’s first major cooling-off period to begin.

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Just last week, $110,000 formed a popular round-number goal, but as time goes on, levels are getting higher.

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BTC price targets are far from neutral, even in the short term, as traders raise expectations for end-of-year BTC price performance and beyond.

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“Historically, we have seen MACRO moves on the Bitcoin chart at or around Dec 17th. If this pattern continues, I’m looking for 1 of 2 moves. Either a breakdown that signals the top is in, or a breakout to the next leg up,” he said.

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Uploading long-term analysis to X, Keith Alan, co-founder of trading resource Material Indicators, said that timing is likely everything. Mid-December, a chart shows, historically contains Bitcoin’s key directional moves.

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Data from monitoring resource CoinGlass put net crypto liquidations for the 24 hours to the time of writing at over $300 million.

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“Short liquidations target hit,” trader CrypNuevo wrote in one of his latest market updates.

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Some were caught by surprise as the highs appeared. Bitcoin traditionally trades sideways or down in the days prior to United States Federal Reserve interest rate decisions.

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“It’s going to be a big week,” Filbfilb, co-founder of trading suite DecenTrader, said in a post on X, employing what has become a classic crypto industry phase.

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For market participants, the outlook could hardly be any better.

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This above the upper boundary would signal a bullish breakout from the chart pattern, with the next logical move being toward the $4.0 trillion mark. This would represent a 10.8% uptick from the current price.

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The price must hold above the immediate support provided by the lower boundary of the channel at $3.57 trillion to sustain the uptrend. If this happens, TOTAL may move, first toward the middle boundary of the channel at £3.73 trillion and later to the upper boundary at $3.9.

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An ascending parallel channel pattern is a chart pattern that indicates a bullish trend and is characterized by two upward-sloping parallel lines. A breakout above the channel can signal a continuation of the move higher, while a breakdown below can indicate a possible trend change.

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Data from Cointelegraph Markets Pro and TradingView show that TOTAL—the total market capitalization of all cryptocurrencies—has rallied more than 34% since Nov. 11. This price action has recorded a series of higher highs and higher lows, leading to the appearance of an ascending parallel channel on the daily chart as shown below.

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On Dec. 4, MicroStrategy CEO Michael Saylor hinted at further Bitcoin buying. In addition, Bitcoin mining giant Riot Platforms announced last Friday that it had acquired 5,117 Bitcoin at an average price of around $99,669 per BTC.

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Institutional demand is perhaps best demonstrated by continued buying by MicroStrategy, which now has a Bitcoin reserve worth over $44 billion.

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