Bitcoin (BTC), the world’s largest cryptocurrency by market cap has gained notable consideration from crypto fans following its spectacular efficiency over the previous 24 hours.
Peter Brandt’s Bitcoin Prediction
Amid this ongoing rally and bullish market sentiment, veteran dealer Peter Brandt made a submit on X (beforehand Twitter) predicting that BTC might attain the $130,000 to $150,000 vary by August or September 2025.
Moreover, he famous that BTC is in a spread from which it should expertise a notable upside rally. In a submit on X, Peter added, “Bitcoin $BTC is now within the candy spot of the bull market halving cycle that ought to prime within the $130k to $150K vary subsequent Aug/Sep.”
The potential purpose for this bullish momentum and worth surge is the U.S. presidential election outcomes and the pro-crypto and President Donald Trump.
Present Value Momentum
As of now, Bitcoin is buying and selling close to $75,800 and has skilled a worth surge of over 10% prior to now 24 hours. Throughout the identical interval, its buying and selling quantity jumped by 160%, indicating heightened participation from merchants and traders amid bullish market sentiment.
Bitcoin Technical Evaluation and Upcoming Stage
In keeping with the skilled technical evaluation, BTC has damaged out from an important resistance stage at $73,935 and is about near a each day candle above the $75,600 stage. Following this breakout and the each day candle closing above the resistance stage, BTC has turned bullish and is poised for a major upside rally within the coming stage.
Primarily based on latest worth motion and historic momentum, if BTC closes a each day candle above $75,600, there’s a robust chance it might surge additional within the coming days.
Bullish On-Chain Metrics
On-chain metrics additional assist BTC’s bullish outlook. In keeping with the on-chain analytics agency Coinglass, BTC’s Lengthy/Brief ratio at present stands at 1.03, indicating a robust bullish sentiment amongst merchants. Moreover, open curiosity has elevated by 15%, reflecting rising dealer curiosity and the formation of latest positions.
