Bitcoin Surges: What You Need to Know About Its Recent Rise

Bitcoin (BTC) $106,417 price has returned to six-digit levels after an 18-day hiatus, bringing good news for altcoins. While it’s uncertain how the Fed’s Wednesday minutes will impact the market in the coming hours, the short-term outlook appears highly positive. What do experts predict for the markets?

Why Are Cryptocurrencies Rising?

BTC surpassed the key $102,000 level, with supportive conditions in U.S. markets. Additionally, Donald Trump will assume the presidency on January 20, potentially eliminating regulatory pressures on cryptocurrencies and changing the U.S. administration’s stance by 180 degrees. However, let’s be realistic about ideas like BTC reserve; they are difficult to implement.

Politicians are wary of taking a negative stance on cryptocurrencies in this election cycle. They are likely to adopt a similar approach in the 2026 midterms, indicating a more favorable attitude towards cryptocurrencies in the Senate and House of Representatives.

Bitcoin’s Next Target

Analyst Jelle stated in today’s assessment that BTC could rise to $120,000 with closing prices above $102,000. This would mean pushing the previous all-time high (ATH) of $108,000 even higher. Historical data suggests we are in a period similar to 2021, making this scenario feasible.

Experts predicting targets for 2024 set their sights above $90,000. While this seemed ridiculous at the time, it would be disappointing if BTC does not reach that level today. Current forecasts place BTC around $200,000, suggesting prices could rise even higher if a scenario similar to last year’s $90,000 unfolds. Michael Poppe is very optimistic for the first quarter, noting significant gains historically observed in post-halving years like 2025.

“Historically, 2017 and 2021 were significant years for Altcoins. The first quarter of these years saw great positivity for ETH. Is history repeating itself? We anticipate an excellent quarter in Altcoin volatility.”

Finally, Crypto Rover shared the above chart, welcoming users to the altcoin bull market.