Bitcoin's price has surged above $100,000, driven by long-term holders booking record profits, with their supply dropping from $14.23 billion to $13.31 billion. Short-term holders are absorbing the sell-side pressure, indicating the market may not yet be in a state of euphoria. Analysts predict a mild correction, with potential price targets of $145,000 by mid-2025 and speculation of a strategic Bitcoin reserve under the incoming Trump administration could push prices to $800,000 by the end of 2025.