Bitcoin Nears $105K as Analysts Predict Major Wave 5 Breakout

Cryptocurrencies Price Prediction: Bitcoin, Litecoin & Binance Coin

According to FXStreet, Bitcoin (BTC) traded above $98,000 on Thursday, maintaining its range-bound movement. This comes as traditional assets like Gold and the S&P 500 reached record highs. Additionally, asset manager VanEck suggested that Bitcoin could play a role in reducing the US national debt.

Litecoin (LTC) saw its price hit $121 on Thursday, a 5% drop from its 30-day peak of $130. This decline followed the US SEC's confirmation of Bitwise's LTC ETF filing. Analysts are debating whether Litecoin can regain momentum to break the $150 mark or face further reversals.

Binance Coin (BNB) experienced a 4% rebound in the last 24 hours, stabilizing above the $650 psychological support level. On-chain data indicates that BNB continues to dominate social media discussions, fueled by commentary from its founder, Changpeng Zhao. For more details, visit FXStreet at https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-bitcoin-litecoin-binance-coin-asian-wrap-21-february-202502210514.

Bitcoin Elliott Wave Technical Analysis

FXStreet's Elliott Wave analysis highlights that Bitcoin (BTC/USD) is in the final stages of a Triangle Correction (A-B-C-D-E) within Wave 4. The price is expected to test a key resistance level at $105,234 (Fib 0.786) before potentially retracing to Wave E. Following this, Bitcoin could enter a major uptrend in Wave 5, extending into Wave III.

Trading strategies suggest considering a long position at $96,500 if a reversal signal appears, with a risk management invalidation point at $91,347. For further insights, visit FXStreet at https://www.fxstreet.com/cryptocurrencies/news/bitcoin-crypto-price-news-today-elliott-wave-technical-analysis-video-202502210527.

Is XRP the New Bitcoin?

The Motley Fool explores the competition between XRP and Bitcoin, noting their distinct purposes. Bitcoin is seen as a store of value due to its limited supply of 21 million coins, while XRP is designed for fast and cost-effective international money transfers. Over the past five years, Bitcoin has risen by 875%, while XRP has climbed by 750%.

While XRP's blockchain offers technological advantages and faster upgrades, its reliance on Ripple, the issuing company, ties its success to the company's performance. Bitcoin, on the other hand, operates independently of any central authority, making it a safer long-term investment. For more analysis, visit The Motley Fool at https://www.fool.com/investing/2025/02/20/is-xrp-the-new-bitcoin/.

Michael Saylor’s Big Bet on Bitcoin

Bloomberg reports that Michael Saylor's significant investment in Bitcoin is inspiring other CEOs to follow suit. Public companies are increasingly using their cash reserves to purchase Bitcoin, a strategy that attracts new investors but also introduces risks. For instance, Goodfood Market Corp., a meal-delivery company, has seen its value plummet by 98% from its pandemic-era high, highlighting the potential dangers of such investments.

For more on this trend, visit Bloomberg at https://www.bloomberg.com/news/articles/2025-02-19/michael-saylor-s-big-bet-on-bitcoin-is-inspiring-copycat-ceos.

Bitcoin’s Weakness and the U.S. Stock Market

MarketWatch discusses how Bitcoin's recent weakness could signal unsustainability in the U.S. stock market rally. The article examines the correlation between Bitcoin's performance and broader market trends, suggesting that a decline in Bitcoin might reflect underlying vulnerabilities in the stock market.

For a detailed analysis, visit MarketWatch at https://www.marketwatch.com/story/bitcoins-weakness-may-mean-the-u-s-stock-market-rally-isnt-sustainable-heres-why-990b60f5.

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