Bitcoin (BTC) has shown signs of recovery after experiencing a week of significant sell-offs, as investors anticipate potential capital inflows that may drive prices higher. One of the key market-cap milestones that traders are eyeing is the $3 trillion mark. Achieving this target could propel Bitcoin beyond its previous all-time high of $126,000.
As of now, Bitcoin is trading at $86,462, reflecting a slight gain of less than 0.1% over the last 24 hours. However, on a weekly basis, the cryptocurrency is down nearly 8%, with a market capitalization hovering around $1.7 trillion.
Estimating Bitcoin”s Price at $3 Trillion Market Cap
To understand Bitcoin”s potential price at a $3 trillion market cap, one must consider its current circulating supply, which is estimated to be approximately 20.35 million coins. By dividing the target market cap by the circulating supply, it can be determined that a $3 trillion valuation would equate to an estimated price of about $147,500 per Bitcoin. This signifies a required growth of roughly 70% from the current trading price.
Market Outlook for Bitcoin
This analysis arrives at a crucial time when market participants are focused on Bitcoin”s effort to reclaim the essential $90,000 resistance level, which could make the $100,000 target increasingly achievable. Notably, analyst Michaël van de Poppe has suggested that Bitcoin appears ready to stabilize after its recent pullback. His insights, shared in a post on X, highlight that the market structure and significant technical levels indicate a period of consolidation may soon follow.
According to the market outlook, Bitcoin needs to maintain its price within the range of $87,000 to $82,000 to uphold a short-term bullish trend. Should these levels fail to hold, a deeper support near $74,500 may come into play.
Additionally, there is a possibility of a retest around the $85,500 mark, which would close the existing CME futures gap—a scenario Bitcoin has historically revisited. Successfully testing this level could serve as a springboard for a subsequent upward move toward the 20-day moving average near $95,000, identified as the next logical target for upward momentum in the charts.
The current trading volume profile, coupled with a steep decline from recent highs, suggests that sellers may have exhausted their momentum. This increases the likelihood of a consolidation phase occurring before Bitcoin embarks on its next directional move.
