Bitcoin is on track for a bullish run, with forecasts suggesting it could hit $200,000 by the end of Q4, fueled by ongoing institutional buying and potential Federal Reserve rate cuts.

Market analysts warn that Bitcoin is in a late-stage maturity phase rather than nearing an end, emphasizing the need for accelerated accumulation to surpass the $126,000 resistance and reach new highs.

The recent market correction signals a shift from retail-driven trading to institutional-led investment, as institutional investors continue to buy during periods of consolidation.

Despite a market crash in October, long-term demand for Bitcoin remains robust, with on-chain data showing sustained institutional accumulation.

Key resistance levels are identified at $115,000, with immediate support at $100,000; falling below this could trigger a correction down to $75,000.

The 'dolphin' cohort, holding between 100 and 1,000 BTC and accounting for about 26% of total supply, continues to increase their holdings, indicating strong structural demand in 2025.