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Bitcoin Price Prediction: Nears $111K as Musk Backs BTC, Metaplanet’s $3.5B Bet Faces Test

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Bitcoin is again in focus as Elon Musk renews his assist, calling it “energy-based” and “inflation-proof,” whereas the IMF warns of rising international market dangers. At the identical time, Japan’s Metaplanet faces a pointy valuation drop regardless of holding over $3.5 billion in BTC.

Yet, technical charts present BTC stabilizing close to $111,000, with a triple-bottom sample hinting at a doable breakout towards $130,000 as institutional demand strengthens.

Elon Musk Calls Bitcoin “Energy-Based and Inflation-Proof”

Elon Musk, CEO of Tesla, described Bitcoin as “energy-based” and “inflation-proof,” contrasting it with “faux fiat” currencies. He famous that BTC’s proof-of-work mannequin prevents the creation of “faux power,” not like fiat cash that governments can print at will.

Musk made the remarks in response to analyst ZeroHedge, who linked rising Bitcoin and gold costs to authorities spending on synthetic intelligence.

This marks Musk’s most direct assertion on Bitcoin in practically three years, following his 2022 prediction of a chronic bear market after the FTX collapse. His renewed endorsement underscores Bitcoin’s position as a hedge towards inflation and its growing relevance in an AI-driven economic system, regardless of ongoing issues about mining power use.

Following Musk’s feedback, Bitcoin regained momentum, rising towards $111,000 as investor sentiment improved and confidence within the asset’s long-term outlook strengthened.

IMF Warns of Global Market Risks

The International Monetary Fund warned that international markets have gotten complacent about dangers such as commerce tensions, high debt ranges, and inflated asset costs. It cautioned {that a} sudden lack of confidence may set off a “disorderly” market downturn.

The warning adopted renewed tariff threats from former U.S. President Donald Trump, which briefly pressured each Bitcoin and fairness markets. The IMF urged governments to tighten oversight of cryptocurrencies and stablecoins and cut back fiscal deficits.

Despite short-term volatility, Bitcoin’s fast restoration suggests merchants stay assured in its long-term resilience.

Metaplanet’s Value Falls Below Its BTC Holdings

Metaplanet, Japan’s main Bitcoin treasury agency, has seen its enterprise worth drop beneath the value of its Bitcoin property for the primary time. The firm’s market-to-Bitcoin net asset value (mNAV) fell to 0.99, indicating that the market now values Metaplanet at lower than its 30,823 BTC holdings, at present price about $3.5 billion.

The decline comes after the corporate paused Bitcoin purchases for 2 weeks, regardless of its status as one among Asia’s most aggressive company Bitcoin accumulators. Metaplanet’s inventory has fallen 75% since June, reflecting investor warning and broader uncertainty round Bitcoin treasury methods.

Analysts, nonetheless, evaluate the response to early skepticism towards Tesla, arguing the selloff displays market mispricing moderately than weak spot in Metaplanet’s mannequin. They be aware that the corporate’s massive Bitcoin reserve and long-term accumulation plan proceed to assist confidence in its steadiness sheet power.

Meanwhile, Bitcoin traded steadily round $113,000, as analysts mentioned Metaplanet’s holdings reaffirm institutional conviction in Bitcoin’s long-term development potential.

Bitcoin Price Prediction: Triple-Bottom Setup Targets $130,000 Breakout

Bitcoin (BTC/USD) is forming a triple-bottom sample close to $109,600, a stage that has triggered a number of reversals since late September. The setup signifies promoting strain is easing whereas patrons steadily regain management.

On the two-hour chart, the 100-period SMMA at $116,676 overlaps the 0.5 Fibonacci retracement at $116,108, forming a key resistance space that might prohibit positive aspects earlier than a confirmed breakout.

Bitcoin Price Chart – Source: Tradingview

The RSI has rebounded from oversold ranges to 47, exhibiting early bullish divergence and slowing draw back momentum. A bullish engulfing candle above $114,500 would affirm the sample and reinforce short-term shopping for power.

Bitcoin stays inside a descending channel, however the TradingView path projection suggests a breakout towards $119,800, aligning with the 0.786 Fibonacci stage. An in depth above $120,000 would sign a shift from consolidation to restoration, focusing on $125,000 and $130,000 subsequent.

Traders might search for lengthy setups above $114,600 with stops beneath $109,500, eyeing $119,800 as the preliminary goal. A transfer above the 100-SMA would affirm development reversal potential. With volatility easing and institutional accumulation selecting up, Bitcoin’s present base might serve as the muse for a sustained This fall rally.

Bitcoin Hyper: The Next Evolution of Bitcoin on Solana?

Bitcoin Hyper ($HYPER) is bringing a brand new part to the Bitcoin ecosystem. While BTC stays the gold customary for safety, Bitcoin Hyper provides what it all the time lacked: Solana-level velocity.

Built as the primary Bitcoin-native Layer 2 powered by the Solana Virtual Machine (SVM), it merges Bitcoin’s stability with Solana’s high-performance framework. The outcome: lightning-fast, low-cost good contracts, decentralized apps, and even meme coin creation, all secured by Bitcoin.

Audited by Consult, the venture emphasizes belief and scalability as adoption builds. And momentum is already robust. The presale has surpassed $23.4 million, with tokens priced at simply $0.013105 earlier than the subsequent enhance.

As Bitcoin exercise climbs and demand for environment friendly BTC-based apps rises, Bitcoin Hyper stands out as the bridge uniting two of crypto’s largest ecosystems.

If Bitcoin constructed the muse, Bitcoin Hyper may make it quick, versatile, and enjoyable once more.

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The publish Bitcoin Price Prediction: Nears $111K as Musk Backs BTC, Metaplanet’s $3.5B Bet Faces Test appeared first on Cryptonews.

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