Bitcoin [BTC] eyes $168,000 amid strong Korean demand, institutional interest, and bullish market trends.
was trading at $95,646 at press time, down 7.89% from its high last week. While the daily decline stands at a modest 0.52%, this indicates that selling pressure has eased, potentially creating space for further gains.
This current price correction is viewed as part of a larger market structure that could propel the cryptocurrency to $168,000 region—a potential peak derived using the Mayer Multiple . Based on this metric, the market’s potential top is indicated at an MM of 2.4 , corresponding to approximately $168,494. Meanwhile, the bottom is defined at 0.8 MM , or $56,141.It is important to note that the Mayer Multiple, currently at 1.3, reflects a fair valuation for BTC but does not directly dictate market direction.
According to CryptoQuant, this group has significantly increased its share of Bitcoin’s Known Entities Cap Table, rising from 14% last year to 31% at the time of reporting.If this buying trend continues, it could positively impact Bitcoin’s trajectory by further cementing its position in mainstream financial markets.
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