Bitcoin Market Observation: BTC Price Soars 5.05% to $96,286, Ignoring Market Doubts about Its Overvaluation

Bitcoin has continued to show market resilience recently, with its price soaring 5.05% to $96,286, ignoring the market's doubts about its overvaluation.

Bitcoin price soars 5.05% to $96,286, ignoring market doubts about overvaluation Bitcoin price continues to soar, up 5.05% in the past 24 hours to $96,286, largely ignoring market concerns about overvaluation. Driven by continued institutional demand, analysts expect Bitcoin to reach a peak of $146,000. Multiple institutions showed strong interest in Bitcoin: MARA increased its Bitcoin holdings, Vancouver Mayor Ken Sim proposed using Bitcoin as a reserve asset, and Chinese company SOS Limited announced an investment of $50 million to purchase Bitcoin, highlighting Bitcoin's growing strategic importance.

Bitcoin price approaches $100,000 mark, market sentiment positive Bitcoin price is approaching the $100,000 mark, and market sentiment is generally positive. Data shows that the probability of Bitcoin breaking through six figures by the end of the year has reached 45%, a significant increase from 34% a week ago. Other major cryptocurrencies also showed an upward trend, with Ethereum hitting a 5-month high and Dogecoin (DOGE) also recording gains.

Cautious sentiment still present in the market, some experts warn of a 30% correction in Bitcoin Despite this, there is still a cautious sentiment in the market, and some experts warn that Bitcoin may face a 30% correction. However, analysts at Rekt Capital hold a different view, believing that price adjustments may actually help maintain the bull market trend. At present, although short-term price fluctuations are obvious, the market still maintains strong confidence in Bitcoin breaking through the psychological barrier of $100,000.

Cryptocurrency market sees diversification of investment strategies, Starknet launches first phase of staking plan on mainnet The cryptocurrency market has also witnessed the diversification of investment strategies, such as Rumble's plan to allocate its $20 million excess cash reserves to Bitcoin. Another important development is that the Ethereum L2 project Starknet has launched the first phase of the staking plan on the mainnet, marking an important milestone in the decentralization process. Overall, Bitcoin has shown strong recovery momentum, and investors tend to actively buy when the price pulls back, but breaking through the $100,000 resistance level still faces challenges.