Bitcoin Faces $95,000 Resistance Amid Retail Sell-Offs

Bitcoin is currently facing resistance around $95,000, with retail sell-offs contributing to the price consolidation. According to analysts, this level is a break-even point for many retail investors, who may be taking profits. The analysts suggest that once retail selling subsides, Bitcoin could break through this resistance.

On the other hand, some analysts believe that Bitcoin's bulls have more market leverage. They point to the weekly candlestick close on the daily price chart, which was above the previous range-low of $92,000, as an indicator of bullish momentum.

Looking ahead to 2025, various models project significant growth for Bitcoin. A pseudonymous analyst suggests that Bitcoin's rally could extend to above $200,000 per Bitcoin, based on the Delta Cap metric. This metric, which uses historical, on-chain, and technical data, has accurately marked past cycle tops. If history repeats itself, the next cycle peak could be around $210,000.

Other valuation models, including the Bitcoin Quantile, also project a price target of over $200,000. However, the Pi Cycle Top indicator suggests a potential market top of around $150,000 to $180,000 if the current cycle peaks towards the end of 2025.

Despite the differences in targets, these models generally indicate potential growth for Bitcoin. The BTC True MVRV metric, which retreated after hitting a local peak around 2, also supports this view. The metric's rebound at 1.4 coincided with Bitcoin's recent recovery, similar to last September's move. However, cycle peaks have historically been flagged by a True MVRV value of 3 and above, suggesting that Bitcoin has more room to expand based on past trends.

It is worth noting that some analysts believe that Bitcoin's four-year cycle might be distorted due to the pace of institutional adoption in the market. If this is the case, the projections shared by the aforementioned models should be taken with caution.