Extends Gains to $97K Amid Bullish Outlook, Whale Trades By Investing.com

Investing.com — Bitcoin extended gains on Wednesday after a sharp rebound in previous sessions amid bullish outlook for the cryptocurrency, while investors shrugged off concerns surrounding US interest rates ahead of the inflation report.

It rose 2.1% to $97,003.4 by 01:50 ET (06:50 GMT).

The token rose sharply on Tuesday, rising above the $97,000 mark, but gave up some gains later in the day.

Bullish outlook, whale trades push Bitcoin higher

Many cryptocurrency analysts maintain a bullish view on Bitcoin’s price trajectory, predicting significant growth this year.

Analysts expect the price of Bitcoin to rise to between $175,000 and $461,000 by 2025.

Bitcoin advocate and head of research at Fundstrat, Tom Lee, recently said that despite short-term volatility, Bitcoin’s outlook for 2025 remains positive with an end-of-year price target of $200,000 to $250,000.

Additionally, some analysts believe that the favorable cryptocurrency policies expected from the incoming Donald Trump administration could push Bitcoin’s value to $400,000. The creation of a strategic Bitcoin reserve and the potential for increased mainstream adoption are cited as key drivers of this optimistic outlook.

Bitcoin whales holding between 10 and 10,000 BTC have added 2,997 BTC to their holdings since January 1, 2025, reflecting growing confidence in Bitcoin’s long-term potential, said on-chain analytics firm Santiment.

Traders shrugged off concerns about a hawkish Federal Reserve ahead of key CPI data due later on Wednesday, with the central bank already signaling smaller interest rate cuts in 2025 at its December meeting.

Today’s Cryptocurrency Price: Most altcoins are rising, and XRP is rising

In the broader cryptocurrency market, most altcoins jumped much more than Bitcoin, reflecting increased risk sentiment.

The world’s No. 2 cryptocurrency rose 1.4% to $3,225.25.

The world’s No. 3 cryptocurrency rose 12.2% to $2.8387.

It rose by 1.6%, rose by 2.2%, and rose by 6.7%. Among tokens, it jumped 4.4%.