The article discusses a crypto analyst's prediction that Bitcoin could see a series of rallies in the near future. The analyst believes that long-term holders of Bitcoin have almost completed their selling, which could lead to a decrease in selling pressure. The analyst suggests that if Michael Saylor's MicroStrategy and spot Bitcoin exchange-traded funds (ETFs) purchase an additional $82 million worth of Bitcoin, the cryptocurrency's price could reach $175,000 per coin. The analyst believes that these two players alone have the potential to drive Bitcoin's price up significantly, especially considering their past investments and the decrease in selling activity. At the time of writing, Bitcoin is trading at $105,054.



Other News from Today