Bitcoin Price Prediction
A Bitcoin price of $150,000 is likely after BTC anchors to a "high value area", according to an analyst.
Bitcoin consolidated near $123,000 after an 8% leverage flush, signaling a possible new value area and setting up for a potential Q4 rally toward $150,000.
- Spot demand and declining open interest point to renewed buyer confidence.
- The MVRV ratio signaled a potential 15% to 25% upside, targeting $140,000 to $150,000 by the end of Q4.
Bitcoin's recent rebound from the $120,000 level underscored buyer bids at that range, according to market analyst Skew.
Author's summary: Bitcoin may reach $150,000 by Q4 end.