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Bitcoin Rebounds as $150K Target for 2024 Comes in View
Crypto markets slid as much as 10% in the past 24 hours, but have quickly been bought up by bulls.
- The selling pressure was likely driven by profit-taking and miners offloading some bitcoin holdings.
- Solana’s SOL, Cardano’s ADA, ether and meme coins, started to reverse some of Tuesday’s losses.
Buying demand and a reset in funding rates for perpetuals has buoyed bitcoin prices early Wednesday, fueling a broader-market recovery.
The world’s largest cryptocurrency tumbled over 7% on Tuesday after briefly touching all-time highs, causing a market-wide sell-off and more than $1 billion in liquidations amid the volatility. It dropped to as low as $60,800 but neared $67,000 in Asian morning hours – indicating resilience.
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Some observers said the selling pressure was likely driven by profit-taking at historical highs and miners offloading some of their bitcoin holdings. Data shows that inflows in spot bitcoin exchange-traded funds (ETFs) remained strong, with BlackRock amassing over $760 million on Tuesday.
Meanwhile, some market analysts said lofty price targets for bitcoin remained in view as April’s anticipated halving event, which reduces mining rewards in half, approaches.
“As demand from bitcoin ETFs, with $500 million in daily average inflows, continues to outstrip new production, we may see bitcoin’s ongoing surge continue,” Alex Adelman, CEO of bitcoin rewards application Lolli, shared in an email.
“Following the Halving, increased scarcity and strong demand from retail and institutional investors will likely push bitcoin’s price even higher. Based on historical trends following the Halving, bitcoin’s price could top $150,000 in the next year.”
Some developers say Bitcoin fundamentals are stronger this cycle compared to the previous ones, pointing to the introduction of Ordinals technology and their adoption.
"New innovations such as Ordinals, digital collectibles (NFTs) that are inscribed in the Bitcoin blockchain have driven $3.6 billion in BTC payments over the last 6 months alone," shared Stijn Paumen, founder of crypto payments firm Helio, in a message to CoinDesk. "If this trajectory continues we'll see global adoption of crypto as a mainstream method of a payment in the coming 4-year BTC cycle."
Major tokens, such as Solana’s SOL, Cardano’s ADA, ether and meme coins, started to reverse Tuesday’s losses, rising as much as 5% in the past hour on bitcoin’s strength.
Dog-themed tokens dogecoin and shiba inu saw sell-offs of more than 15% on Tuesday but did not rebound alongside the other major tokens.
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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ICP Rises, Keeping Price Above Key Support Levels
Internet Computer rose, keeping the price above the $3.40 support zone, with early session volume spikes failing to produce a sustained breakout.
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- ICP rose 0.6% to $3.44 as early session volume surged 31% above average before fading.
- Resistance near $3.52–$3.55 rejected multiple breakout attempts, keeping the token range-bound.
- Support between $3.36–$3.40 held firm, maintaining ICP’s short-term higher-low structure.
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