Bitcoin’s price surged past the $95,000 mark on Gate.io on Tuesday morning in Asia, driving a broader market rally just a week ahead of the U.S. elections, which many traders view as a potential bullish trigger, regardless of the winning party.
Bitcoin (BTC) gained 5% in the last 24 hours, with data from Gate.io highlighting a significant break past the $93,000 resistance level. Trading volume reached $48 billion, nearly doubling from the previous day’s activity. This spike in volume coincided with the liquidation of over $143 million in short positions within the last 12 hours. This extensive liquidation likely fueled the price increase, as traders exited losing positions. Notably, Bitcoin short positions lost $73 million, followed by $39 million in Ethereum (ETH) shorts, according to CoinGlass.
Opinion on BTC Price
Market observers indicated that these liquidations centered around the $93,000 level reflect a growing sentiment favoring a potential pro-crypto outcome in the upcoming U.S. election. This sentiment could be pushing many traders to adjust their positions in anticipation of favorable political developments. Additionally, analysis from CryptoQuant suggests that buying activity from influential traders, or “whales,” has significantly contributed to the increased demand on major exchanges like Binance, particularly during Asian trading hours.
The growing interest in Bitcoin is also linked to Bitcoin exchange-traded funds (ETFs), which reported a net inflow of 47,000 BTC over the last two weeks, further boosting demand. Currently, Bitcoin is trading at $94,100 BTC/USDT at Gate.io.
Alongside Bitcoin, other major cryptocurrencies saw gains, led by Dogecoin (DOGE), which rose 15% amid renewed political interest and influence. Shiba Inu (SHIB) followed with an 8% rise, while Ethereum (ETH) increased by 4.9%. Other top tokens, including Cardano’s ADA, Solana’s SOL, and Binance Coin (BNB), experienced gains of more than 3%.
The CD20, an index tracking the largest tokens by market cap, rose by 3.3%, reflecting a broader optimism in the market.
The timing of this price movement aligns with heightened speculation about the U.S. election, with traders generally positive on Bitcoin’s prospects regardless of a Republican or Democrat win. Many see a Republican victory as more favorable to crypto markets due to its historical support for the industry, while the Democrat candidate has proposed regulations aimed at protecting consumers, which some see as less supportive of the sector. Nevertheless, broader economic factors are anticipated to sustain Bitcoin’s upward trajectory.
Crypto options traders are also positioning for a potential surge. The highest open interest for November 8 options is concentrated at a $95,000 strike price, indicating strong market expectations of a price increase by mid-November.
BTC Price in 2025
Bitcoin price predictions for 2025 are generally optimistic, with analysts forecasting new highs that may push the cryptocurrency firmly into six-figure territory. Bernstein analysts consider a target of $200,000 by 2025 as “conservative,” suggesting that Bitcoin’s appeal as a hedge against inflation and rising national debt could draw substantial interest from institutional investors and those seeking a stable store of value. This view aligns with recent macroeconomic shifts, such as heightened U.S. debt and inflation concerns, which could drive capital flows into assets like Bitcoin as an alternative to traditional hedges like gold.
Additionally, the anticipated 2024 Bitcoin Halving—a periodic reduction in the reward for mining new BTC—could set the stage for significant price gains in 2025. Historically, Bitcoin’s price has surged 12–18 months following these events as reduced supply intensifies demand. This cyclical pattern, combined with broader adoption in retail and institutional circles, has led some analysts, including those at Finbold, to project Bitcoin prices reaching $130,000 to $200,000 by late 2025.
The Stock-to-Flow (S2F) model is a method for predicting asset prices, particularly those with limited supplies, by comparing existing stock (total supply) to the flow (newly produced or mined supply) over time. Originally used for commodities like gold, this model was adapted for Bitcoin by an anonymous analyst known as PlanB. Since Bitcoin’s supply is capped at 21 million and its issuance rate reduces roughly every four years through halving events, the S2F model treats Bitcoin as “digital gold” with a similar scarcity appeal.
According to the S2F model, Bitcoin’s price should increase following each halving, as the reduced supply flow makes it rarer, theoretically driving up demand and value. Although the model has been popular among Bitcoin enthusiasts, it is also criticized for assuming linear price growth without accounting for external factors like market sentiment, regulatory changes, or macroeconomic events
Models like the Stock-to-Flow (S2F) predict high valuations, suggesting that Bitcoin could see levels beyond $200,000 by 2025 if historical trends hold. However, more conservative forecasts by CoinPedia and Techopedia still expect six-figure pricing but estimate lower averages between $50,000 to $95,000, depending on regulatory developments and broader economic stability. Despite varying estimates, the consensus remains positive, with most forecasts converging around significant gains for BTC in 2025 driven by institutional interest, the Halving event, and potential regulatory advances.
