Market uncertainty caused by the US decision to impose tariffs on China, Canada, and Mexico has been dragging down the price of Bitcoin (BTC). Market participants have warned that these tariffs could have disastrous effects, such as increasing inflation, and the dominant digital currency has reacted by seeing massive withdrawals of capital.
Because of this, Bitcoin has fallen below the critical $100,000 support zone, which many had hoped would serve as a launching pad to a new all-time high. The current level of immediate resistance is $100,000. At the time of publication, Bitcoin was trading at $98,416, reflecting a 3.7% decrease over the past 24 hours. The asset’s price has also dropped 2.8% on the weekly chart.
AI predicts Bitcoin price
While uncertain, attention has turned to how the asset will trade in the coming weeks. Finbold used its AI tool to predict Bitcoin’s February 28 price. Bitcoin’s average price target is $104,000 by February 28, 2025, a 5% increase from its current price, according to multiple models. GPT-4o predicts Bitcoin will reach $105,000, the most optimistic. A recent golden cross, where the 50-day simple moving average (SMA50) crossed above the 200-day SMA (SMA200), a historically strong bullish signal, supports this prediction.
For GPT-4o, positive market sentiment and no major negative news were considered. With a 3.7% increase, GPT-4o Mini set a lower target of $102,500. The Golden Cross, stable interest rate expectations, and crypto regulatory clarity were key drivers. Meanwhile, Grok 2 Vision expects Bitcoin to reach $104,500 due to the Golden Cross, improving macroeconomic conditions, and investor confidence.
Bitcoin’s technical setup
Technically, Bitcoin is set up to grow in the long run, but some analysts are predicting more short-term declines. For example, Captain Faibiki pointed out in a post from February 2 that, despite recent pullbacks, Bitcoin is expected to break out soon. This is because, on the daily chart, it is forming an ascending broadening wedge, a bullish pattern that typically indicates upward momentum.
Bitcoin, he noted, is trading close to the $95,000–$96,000 support zone. An important level is where the rally needs to be sustained if bulls are to be successful. If this level can be held, the analyst predicts a robust rebound, which could propel Bitcoin to a new record high by the end of February or the beginning of March 2025. According to historical trends, Bitcoin has averaged a return of 14.4 percent for the second month of the year. If February is a good month for the asset, it will continue this trend.
Bitcoin Faces Key Resistance at $106K
The main obstacle to bullish momentum is $106,000. The wedge’s structure suggests Bitcoin could reach $120,000 if it breaks above this level. Another expert, Gert van Lagen, predicted that Bitcoin could reach $270,000 based on the bullish “megaphone pattern.”
Despite the ongoing battle between bulls and bears in Bitcoin, on-chain metrics indicate a potential price spike. In an X post on February 1, macro researcher Axel Adler shared data showing. Bitcoin’s adjusted net unrealized profit/loss (aNUPL) indicator is bullish without overheating.
Bitcoin is in a “zone of confidence,” with a NUPL at 0.4, far below. The 0.7–0.8 range is associated with market euphoria in 2017 and 2021. Despite moderate profits, this suggests the market is not a bubble. Long-term bullishness is strengthened by stable macroeconomic conditions, which could allow BTC to grow.
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