Bitcoin, Ethereum Jump as MicroStrategy, Metaplanet Make New BTC Purchases, Bernstein Predicts $200K Target by 2025

Leading cryptocurrencies jumped on Monday, driven by corporate Bitcoin purchases and a fresh bullish price prediction for 2025.

Major cryptocurrencies rallied on Monday, as a fresh bullish price prediction for Bitcoin in 2025 and corporate purchases drove the market higher.

Bitcoin soared above $100,000 for the first time since Dec. 19, as a key level of resistance was breached following weeks of choppy price action just below the round figure.

The rally comes as MicroStrategy Inc. and Metaplanet, which is known as "Asia's MicroStrategy," both acquired more Bitcoin to add to their reserves.

Bernstein also predicted that Bitcoin could reach $200,000 by the end of 2025, which also contributed to the rally on Monday.

Meanwhile, Ethereum also broke out above $3,600 during the session, reaching $3,739 for the first time in over two weeks.

Over the last 24 hours, more than $221 million was liquidated from the cryptocurrency market, with $133 million in downside bets getting wiped out.

That said, more than $1 billion in long positions faced liquidation if Bitcoin fell to $97,720.

Bitcoin's Open Interest soared 16.52% in the last 24 hours, indicating massive speculative interest for the apex cryptocurrency.

According to the Crypto Fear & Greed Index, the market sentiment shifted to "Extreme Greed," which sparked fears of a potential correction.

Top Gainers (24-Hours)

The global cryptocurrency market cap stood at $3.59 trillion, following a rise of 2.64% in the last 24 hours.

Tech stocks rallied on Monday, with the Nasdaq Composite spiking 1.24% to close at 19,864.98. The S&P 500 also closed in the green, ending 0.55% higher at 5,975.38. However, the Dow Jones Industrial Average closed the session at a minor loss of 0.06%.

Artificial intelligence behemoth NVIDIA Corp. (NASDAQ:NVDA) contributed to the tech rally, as the stock surged 3.43% to $149.43, amid investor anticipation surrounding CEO Jensen Huang‘s keynote at the CES trade show in Las Vegas.

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In other news, popular cryptocurrency analyst Rekt Capital noted that Bitcoin needs a daily close above $101,165 for the bias to turn bullish and break out from the daily range.

#BTC Bitcoin is mere hours away from positioning itself for a bullish Daily Candle Close and breakout from this Daily range

Needs a Daily Close above $101,165 (black)

$BTC #Crypto #Bitcoin pic.twitter.com/wrIB3i3n1g

Another widely followed cryptocurrency market commentator, Miles Deutscher, highlighted that retail demand for Bitcoin was nearing historic lows, despite a run above $100,000.

“This run is being driven by institutions/ETFs/nation states. For this reason, you can’t really compare this cycle to past cycles,” Deutscher added.

$BTC on-chain retail demand is nosediving to historic lows, despite BTC pushing $100k.

This run is being driven by institutions/ETFs/nation states.

For this reason, you can't really compare this cycle to past cycles. pic.