Bitcoin chills near $89,700 as strategy CEO promises long-term hold
Bitcoin is hanging out around $89,700 after a rough patch that saw over $500 million wiped out in liquidations.
Phong Lee, CEO of Strategy, reassured everyone by saying they're holding onto their Bitcoin until 2065—unless extraordinary conditions force a change.
That steady hand has helped cool off some of the recent selling activity.
Why does this matter?
Bitcoin's price is following an 18-month cup-and-handle pattern, which usually hints at a possible jump.
If it pushes past $100,308, it could shoot up to $120k-$130k.
But if it slips below $80,755, things could head south toward $70k instead.
What are the signals and predictions?
Right now, Bitcoin's technicals show it was recently oversold but might bounce back if momentum picks up.
Analysts say there's about a 29% shot at hitting $100k soon—but also a higher chance (57%) that prices dip to around $82k first.
Crypto's still a rollercoaster ride—so keep your eyes open if you're thinking of jumping in.