In this video: Will the rally in bitcoin move to new highs in 2027? It seems most people are not ready for what bitcoin will do next year in 2027. We show why bitcoin sentiment appears to be leaning towards disbelief in pessimism and what this could mean for the crypto. Video by Charlie Burton and Alessio Rastani.
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Bitcoin (BTC) is trading at approximately $84,599, consolidating near the $84,600 mark amid strong institutional backing and tightening market supply. While facing minor short-term selling pressure over the last 24 hours (down around 1.6%), broader structural metrics signal a macro-bullish environment heading into the weekend.
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Bitcoin Insights Today
• Supply Crunch Intensifies: Total Bitcoin exchange reserves have plunged to 2.68 million BTC, hitting their lowest structural level since September 2023. This massive macro withdrawal indicates aggressive long-term holding patterns as spot supply on major exchanges dries up.
• SEC Greenlights 3x Leveraged Crypto Products: The SEC took a major regulatory leap forward by approving rule changes for a suite of 3x leveraged futures-based ETPs, including 3x Bitcoin and 3x Ether funds managed by Volatility Shares.
• BlackRock Accumulation Surges: On-chain data from Arkham tracked unrelenting institutional appetite. BlackRock’s IBIT Bitcoin ETF net-purchased $1.57 billion worth of BTC over the last 30 days alone. Their total holdings have eclipsed 800,000 Bitcoin, valued at over $67 billion.
• Wall Street Targets Upgraded: Wall Street giant Citigroup revised its 12-month Bitcoin price forecast sharply upward, raising its target from $82,000 to $113,000 on the back of steady, predictable inflows.
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