Bitcoin price retreated to the important support level at $90,000 on Thursday, erasing most of the gains made in the initial days of the year. It has retreated by over 4% and continues to underperform other popular assets like gold and the stock market. Still, analysts are optimistic that the coin has more upside this year, with some expecting it to hit $300,000.
Analysts are bullish on the Bitcoin price
Bitcoin price remains in a technical bear market after falling by over 30% from its highest level in 2025. This crash happened as demand waned and as the January Effect started to end.
In a note to CNBC, Standard Chartered analysts predicted that the coin may jump to $150,000 this year, much lower than the original estimate of $300,000. The bank reduced its target because it expects that Digital Asset Treasury (DAT) companies will not buy as aggressively as they did last year.
Analysts at CoinShares predicted that Bitcoin would trade between $120,000 and $170,000, pointing to the potential interest rate cuts the Federal Reserve now that inflation has continued moving downwards.
Maple Finance, a popular company in the decentralized finance (DeFi) industry, predicted that the coin would jump to $175,000, while Bit Mining expects it to rise to $225,000.
Other bullish investors are those from companies like Nexo, FundStrat, and Strategy. Nexo analysts expect that the coin will rises to between $150,000 and $200,000.
The bullish case for Bitcoin
These Bitcoin price forecasts were delivered to CNBC, which collects them from some of the top companies in the industry. A closer look at the report identifies several reasons why the coin may continue rising this year.
First, there is optimism that the Federal Reserve will continue cutting interest rates, especially when Donald Trump replaces Jerome Powell with a friendly Federal Reserve chairman. Bitcoin and other risky assets tend to do well when the Fed is cutting interest.
Second, the US will have a stimulus package in the form of tax refunds as part of Donald Trump’s Big Beautiful. It is estimated that some taxpayers will receive thousands of dollars from the government, funds that may find their way to the crypto market.
At the same time, Trump has hinted that the government will provide a stimulus dividend check using the tariff revenue the government will make. However, such funding will need congressional approval, which is highly unlikely.
Third, the Supreme Court will likely cancel Donald Trump’s tariffs on Friday, noting that the president did not have the authority to impose it as the US was not in an emergency. Such a move would likely lead to lower prices, which would support the case for more cuts.
Additionally, analysts believe that Bitcoin ETF inflows will continue this year as institutional investors pile in. One reason for this will be the passing of the CLARITY Act, which is expected to happen this year. Also, analysts believe that Bitcoin will play catch-up to the soaring gold price.
Bitcoin price prediction and technical analysis
A closer look shows that the Bitcoin price retreated after hitting the important resistance level at $94,516. It remains above the 50-day Exponential Moving Average (EMA).
Bitcoin also remains above the Supertrend indicator, one of the most common bullish signs in technical analysis.
Most importantly, it has formed an ascending triangle pattern, a common continuation pattern made up of a horizontal resistance and an ascending trendline.
Therefore, the coin will likely rebound in the near term. The initial target price will be the upper side of the triangle followed by the psychological level at $100,000.
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