Bitcoin (BTC) price surpasses $87,000, targeting $100,000

Bitcoin has shown remarkable strength in recent days, briefly surpassing $87,700 before settling at around $88,194.

Bitcoin price rose above $87,700 on Tuesday, briefly touching levels not seen since June 2023, amid a weak U.S. dollar and strong institutional demand for the cryptocurrency.

Bitcoin was trading up 1.8% in the past 24 hours at around $88,194 by 07:08 ET (11:08 GMT). It had earlier in the session risen as high as $87,738.

Bitcoin price has risen more than 80% so far in 2025, fueled by several factors including the U.S. dollar trading at its lowest point since March 2022 and a growing correlation between Bitcoin and gold, which has risen nearly 30% this year.

“The breakout of the descending wedge in the BTC chart provides a strong technical perspective for the bullish outlook,” said Ryan Lee, Chief Analyst at Bitget Research.

This comes as several analysts have set ambitious price targets for Bitcoin. Jamie Coutts from Real Vision predicts that the cryptocurrency could reach $132,000 by the end of the year, driven by expanding fiat money supply (M2).

This projection aligns with predictions from economist Timothy Peterson, who suggests Bitcoin could reach $138,000 within three months, based on similar market patterns observed in the past.

However, despite the overall positive sentiment, some analysts remain cautious. Michaël van de Poppe warned that weekend price rallies can sometimes be misleading and that Bitcoin may experience a dip before breaking through major resistance levels.

The next key resistance level is seen around $91,000. Until this level is surpassed, short-term price corrections may still occur in the market.

The current political environment is adding another layer to Bitcoin’s price dynamics. President Donald Trump’s criticism of Federal Reserve Chair Jerome Powell has intensified, with Trump calling for Powell to “preemptively” lower interest rates.

Trump has suggested that failure to cut rates could risk damaging economic growth. These comments have increased speculation about a potential rate cut, which could further weaken the dollar and benefit Bitcoin’s rally.

Reports indicate that Trump may be seeking a way to remove Powell before his term ends in May 2026. Powell has maintained that the Fed will not cut interest rates soon and that he plans to serve his full term.

Global institutional interest in Bitcoin remains strong despite recent market volatility. Investment firms from Japan and the United Kingdom continue to invest in the cryptocurrency, demonstrating trust in its future prospects.

The weakness in the U.S. dollar and strength in the cryptocurrency markets come amid several macroeconomic uncertainties, including the ongoing trade tensions between the United States and China.

The convergence of weakening fiat currencies, rising institutional support, and potential Treasury buybacks creates a favorable environment for Bitcoin’s price to continue its upward trajectory toward $100,000 and beyond.