Bitcoin (BTC) Price Prediction: BTC Set for a Rally to $168,000

Bitcoin [BTC] was trading at $95,646 at press time, down 7.89% from its high last week. While the daily decline stands at a modest 0.52%

Bitcoin [BTC] began the new year of trading at a high of $96,833, following a 7.89% gain over the past week. However, at press time, the asset was trading at $95,646, reflecting a minimal daily loss of 0.52%.

This slight pullback from Monday’s highs signaled easing selling pressure, which could pave the way for further gains.

Bitcoin price prediction: BTC set for a rally to $168,000

Despite the recent price decline, Bitcoin’s overall bullish trajectory remained intact, especially within the $90,000 range, as highlighted by AMBCrypto.

This observation aligns with the asset’s broader bullish trend, suggesting further potential for upward price movements.

Moreover, analyst Ali Charts noted that Bitcoin remained bullish despite the recent price decline. This current price correction is viewed as part of a larger market structure that could propel the cryptocurrency to $168,000 region—a potential peak derived using the Mayer Multiple (MM).

The Mayer Multiple, an indicator available on Glassnode, calculates potential market tops and bottoms by dividing BTC’s current price by its 200-day moving average.

Based on this metric, the market’s potential top is indicated at an MM of 2.4 (red line), corresponding to approximately $168,494. Meanwhile, the bottom is defined at 0.8 MM (green line), or $56,141.

It is important to note that the Mayer Multiple, currently at 1.3, reflects a fair valuation for BTC but does not directly dictate market direction.

However, with room to climb toward the MM peak of 2.4, BTC could rally to $168,494, a level that would place it in overvalued territory.

Institutions, large investors keeping BTC intact

Throughout Bitcoin’s price range movements, institutional and large-scale investors played a significant role. As the cryptocurrency regained popularity, recent data highlighted a surge in interest from these entities.

According to CryptoQuant, this group notably increased its share of Bitcoin’s Known Entities Cap Table, rising from 14% last year to 31% at the time of reporting.

If this buying trend continued, it could positively impact Bitcoin’s trajectory by further cementing its position in mainstream financial markets.

AMBCrypto’s analysis of U.S., Korean, and traditional investors revealed that bullish sentiment persisted, suggesting continued confidence in BTC’s potential.

Korean investors accelerate Bitcoin buying

In the last 24 hours, Korean investors have shown a major surge in BTC buying activity, with a spike last seen in August. The current reading of the Korean Premium Index has climbed to 5.26, up from a negative 0.37 on December 15.

This level of heightened buying activity indicates ongoing accumulation, which could soon reflect in BTC’s price, potentially driving it higher in upcoming trading sessions.

In contrast, U.S. investors have shown reduced interest, as indicated by a decline in the Coinbase Premium Index. The index remains in negative territory at -0.1035, a sign of a slowdown in buying activity.

Similarly, the Fund Market Premium Index, which tracks institutional Bitcoin buying and selling, mirrors this bearish sentiment. It currently stands at -0.759, reinforcing the decline in institutional demand.

If U.S. and institutional investors return to buying, their participation—combined with the bullish momentum from Korean investors—could push Bitcoin’s price upward to the $100,000 region.