The Bitcoin price is approaching $100,000 and has reached its highest level since late December. Analysts suggest that various factors, such as a negative Coinbase Premium Index and a significant withdrawal of BTC from exchanges, indicate growing institutional interest in Bitcoin. However, caution is advised as sustaining a close above the 50-day moving average is crucial for maintaining the current bullish trend. The Elliot Wave Academy's technical analysis suggests that Bitcoin is currently in its fourth wave of a larger bullish cycle and may target a price range between $117,475.70 and $138,058.37. Overall, these positive indicators suggest a promising future for Bitcoin, but investors should monitor critical price levels.



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