BITCOIN STALLS NEAR $94K AS VANECK PROJECTS A $53M FUTURE BY 2050

Bitcoin’s long-term potential looks enormous, but for now, the world’s largest cryptocurrency remains stuck in a wait-and-see phase.

According to a new analysis from VanEck, Bitcoin could soar to as high as $53 million by 2050 if it evolves into a settlement currency for global trade. In the short term, however, the asset continues to trade within a wide consolidation range, repeatedly failing to push past resistance near $94,000.

In a January 8 note to investors, the $181 billion asset manager outlined three possible paths for Bitcoin’s future. Under its most optimistic scenario, VanEck believes Bitcoin could match—or even surpass—gold as a global reserve asset, eventually accounting for nearly 30% of global financial assets, analysts Matthew Sigel and Patrick Bush said.

VanEck’s more conservative outlook still sees Bitcoin reaching $2.9 million by 2050, while even its bearish scenario points to a rise to $130,000.

The projections highlight a growing shift in attitude among traditional financial institutions, many of which are now willing to make bold long-term bets on crypto, marking a clear departure from years of skepticism toward digital assets.

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Near-Term Price Action Signals Caution

Despite optimistic long-term forecasts, Bitcoin’s short-term price behavior paints a more cautious picture. Repeated failures to reclaim the $94,000 level suggest the market is experiencing distribution, with sellers consistently meeting demand near the top of the range. As a result, Bitcoin remains trapped in a broad consolidation phase.

This sideways movement comes even as the market steadies following October’s liquidation-driven selloff, which erased nearly $1 trillion from the total crypto market capitalization.

Institutional Optimism Meets Market Hesitation

For now, Bitcoin appears caught between strong institutional confidence in its long-term role in global finance and a market still lacking the momentum needed for a decisive breakout. While long-term conviction remains intact, near-term price action continues to reflect uncertainty.

$94,000 Emerges as Key Resistance

The $94,000 level has acted as a stubborn resistance zone since early December. Although Bitcoin has tested this area multiple times, it has failed to secure a sustained close above it. This repeated rejection reinforces the view that selling pressure remains dominant at higher price levels.

Bitcoin Price: Key Technical Takeaways

• Bitcoin has faced multiple rejections near the $94,000 high range.
• Price is currently trading below the Point of Control, weakening short-term market structure.
• Continued failure to break higher increases the likelihood of a pullback toward the $80,000 range low.

Distribution Phase Takes Shape

Distribution phases typically form when price trades near the top of a range without strong volume expansion to support continuation. In Bitcoin’s case, rallies into resistance have repeatedly failed to gain traction, while selling pressure has consistently appeared at similar price levels.

This pattern suggests that larger market participants may be offloading positions rather than actively accumulating. Bitcoin’s inability to secure a higher-timeframe close above $94,000 further strengthens this view. Without acceptance above resistance, the price remains exposed to rotational moves lower within the range.

Adding to market caution, Colombia’s move to require crypto exchanges to report Bitcoin, Ether, and stablecoin users has introduced fresh regulatory pressure, weighing on overall sentiment.

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Point of Control Signals Shift in Market Balance

Following the latest rejection, Bitcoin has accepted back below the Point of Control (POC). From a market profile standpoint, the POC marks the price level where the highest volume has traded and often acts as a key balance point.

Trading below this level shifts short-term control back to sellers and increases the likelihood that the price will seek lower value areas. Acceptance below the POC indicates that the market is no longer comfortable sustaining higher prices, reinforcing the broader distribution narrative.

As long as Bitcoin remains below this level, upside moves are more likely to be corrective rather than impulsive, keeping price action confined within a range.

Downside Liquidity and Range Rotation

With resistance holding and price trading beneath the point of control, a rotation toward the lower boundary of the range becomes the next logical technical scenario. The $80,000 area stands out as the next major zone of interest, having previously attracted demand and halted downside momentum.

From a liquidity perspective, there is relatively thinner traded volume between the current price levels and the range low. This makes downside rotations more technically efficient, as markets often move toward lower-liquidity areas to rebalance supply and demand—especially when higher prices fail to attract sustained buying interest.

A move toward $80,000 would not necessarily signal a breakdown but rather a continuation of the broader range that has defined Bitcoin’s recent price behavior.

What to Watch in the Near Term?

As long as Bitcoin remains capped below $94,000 and continues to trade beneath the point of control, the risk of further downside rotation remains elevated. If selling pressure persists, the $80,000 region becomes the key support level to monitor in the coming sessions.