Bitcoin Eyes $100K Again as PNC Becomes First Big Bank to Switch On Direct BTC Trading

PNC Bank’s move to plug direct Bitcoin trading into its private-bank platform lands on the same day chart analyst Ted Pillows maps a possible return toward the $100,000 area. Together, the bank’s partnership with Coinbase and the repeat of a 2021-style double-top pattern frame a market where Wall Street access is widening even as technicals hint at one more big swing before the next downturn. PNC Launches Direct Bitcoin Trading Through Coinbase Partnership PNC Bank opened direct Bitcoin trading for its private-bank clients today, becoming the first major U.S. bank to place spot BTC buying and selling inside its own platform. The bank switched on the feature on December 9, using Coinbase’s Crypto-as-a-Service infrastructure to route trades and handle custody. PNC said the rollout gives eligible clients a way to buy, sell and hold Bitcoin without leaving the bank’s digital environment. The service sits inside PNC’s existing private-bank dashboard, so users can move between traditional accounts and Bitcoin balances in one place. The bank confirmed that Coinbase powers the trading engine on the back end. The move follows a partnership the two companies announced earlier this year. At the time, PNC said it wanted to build crypto tools directly into its wealth-management business. Today’s launch marks the first major U.S. bank to offer this type of direct spot Bitcoin access rather than only ETFs or third-party referrals. Bitcoin Repeats a 2021 Pattern as Chart Shows Double-Top and Bounce Meanwhile, Bitcoin is tracing a structure that closely resembles its 2021 cycle, according to fresh weekly-chart analysis from market watcher Ted Pillows. His chart shows two rounded tops forming near record levels, followed by a sharp pullback and a quick rebound from support. The pattern mirrors the double-top sequence that shaped the market in late 2021 before the deeper decline of 2022. Bitcoin Double Top Pattern. Source: TedPillows The chart highlights how price recovered from the first drop and pushed back toward the prior peak. The same behavior appears on the current weekly candles, with Bitcoin bouncing from the mid-$80,000 support zone after a steep slide from the highs near $128,000. Ted notes that this rebound fits the same rhythm Bitcoin showed three years ago, when a brief rally followed the initial downturn. He added that the repeated structure leaves room for one more push higher. His chart marks a potential path toward the $100,000 to $105,000 range before momentum fades again. The analysis points to the same shaded support area acting as the pivot in both cycles. In 2021, that level held once more before sellers regained control and drove price into the following year’s decline.