Bitcoin News Today: Bitcoin's Bullish Wedge vs Bearish Odds: $138k in Jeopardy?

Bitcoin's recent price action has sparked renewed debate among investors and analysts about its potential to reclaim record highs in 2025. After dropping from a peak of $126,000 in October to around $106,000 in November, the cryptocurrency has formed a "bullish falling wedge" pattern-a technical indicator often preceding upward breakouts.

CoinDesk analyst Omkar Godbole notes that this pattern, characterized by converging downward trendlines, suggests that waning selling pressure could soon give way to renewed buying momentum. If Bitcoin (BTC) breaks above the wedge's upper boundary near $106,000, it could signal a path toward $126,000 and even higher levels, driven by improving market sentiment and spot ETF inflows.

However, the current bearish tone persists. Bitcoin has lost 15-20% of its value in 2025, retreating to $82,000 as investors flee high-risk assets. A third-party analysis from CoinCodex projects a 33.98% rally to $138,183 by November 17, 2025, but underscores the 33.98% target as highly ambitious, given the market's "Fear" reading on the Fear & Greed index and the dominance of bearish indicators. Key resistance levels at $106,000 and $109,000 will be critical for confirming a sustained rebound, while a drop below $100,000 could deepen the correction.

Adding to the optimism, blockchain firm LCPC AI has highlighted growing investor confidence in digital assets, citing anticipated Federal Reserve rate cuts and rising interest in decentralized finance (DeFi) as tailwinds. This aligns with broader market trends, as stablecoins and cross-border payment platforms gain traction. Yet, the sector faces stiff competition. In the crypto presale arena, Digitap ($TAP) has outpaced Remittix (RTX) by offering an "omni-bank" platform that integrates crypto, fiat, and stablecoins into a single interface, complete with multi-rail transaction capabilities and profit-sharing tokenomics. Remittix, while focused on low-cost remittances, lacks the broader financial infrastructure to capture the same scale of stablecoin flow, according to analysts.

The contrasting strategies highlight a pivotal question: Can niche projects like Remittix scale to meet global demand, or will broader PayFi platforms dominate the next phase of crypto adoption? While Remittix has raised $28 million in its presale, Digitap's multi-rail architecture and real-world adoption -via Visa cards and mobile apps- position it as a stronger contender in the 2025-2026 cycle. For Bitcoin, the path to $138,000 remains contingent on overcoming technical hurdles and shifting investor sentiment. As the market weighs these dynamics, the coming weeks will test whether the bullish wedge holds-or collapses into further volatility.