Technical analysts cite 30 indicators suggesting Bitcoin could reach $230K, including historical halving cycle patterns and institutional inflow trends. The prediction comes despite recent volatility, reflecting long-term bullish sentiment among major funds.
Key drivers include anticipated ETF inflows, shrinking exchange reserves, and growing adoption as collateral in traditional finance. However, skeptics warn that macroeconomic headwinds and regulatory uncertainty could cap upside potential.
The $230K forecast assumes Bitcoin maintains its dominance ratio against altcoins and avoids major security breaches. Market participants are closely watching derivatives data and miner activity for confirmation of this trajectory.
