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According to recent research from on-chain analytics provider Crypto Quant, Bitcoin is expected to experience range-bound motions for the upcoming period, complicating the sentiment for many bullish investors. Traders should note the psychological impact of price points, particularly around $120,000, which is anticipated to serve as a central resistance as traders grapple with buying and selling across fluctuating price levels.
What the Future Holds for Bitcoin
Positive signals for Bitcoin persist despite recent sluggishness across traditional financial sectors. For example, Bitcoin's price surged by 32% while oil, the S&P 500, and gold saw declines. Analysts speculate that the momentum observed could lead to a continued rally lasting potentially until the end of 2025.