Bitcoin's Price Outlook: Bear Capitulation, $45,000 Target, and Key Levels to Watch

A trader predicts that Bitcoin will witness bear capitulation as the U.S. Securities and Exchange Commission (SEC) has a little over a month to decide on spot market Bitcoin exchange-traded fund (ETF) applications. The trader believes that BTC will experience more rallies in the coming weeks, causing even bearish Bitcoin traders to join in. Another analyst is also bullish on Bitcoin, predicting a rally to as high as $45,000. However, there may be resistance around $42,000. At the time of writing, Bitcoin is trading at $39,522.