The market’s leading crypto, Bitcoin (BTC), has experienced a retracement below the $109,000 mark on Monday, following its recent surge to an all-time high (ATH) of $111,800 last week. As the cryptocurrency market reacts to these fluctuations, analysts find themselves divided on BTC’s price future trajectory. Bitcoin Could Hit New ATH Of $113,000 This Week Market expert Doctor Profit took to social media platform X (formerly Twitter) to reaffirm his bullish stance, citing the recent occurrence of a “Golden Cross”—a technical indicator that has historically signaled significant price increases. Related Reading: Dogecoin Chart Turns Ugly—This Price Could Trigger Panic With an accuracy rate of 87.8% on higher time frames, the Golden Cross has flashed only twice in the past two years and has now reappeared. Doctor Profit emphasized its rarity, stating, “This is a rare and powerful signal that deserves serious attention.” The expert pointed out during his analysis that the previous instances when the Golden Cross appeared resulted in remarkable price surges: in October 2023, Bitcoin jumped from $27,000 to $73,000, representing a 170% gain, and in October 2024, it rose from $63,000 to $109,000, marking a 73% increase. The expert now anticipates that the Bitcoin price could reach a new all-time high of $113,000 this very same week, citing substantial liquidity in that area and robust momentum in the market. Potential Bull Trap In BTC Additionally, Doctor Profit highlighted the significant inflows into Bitcoin exchange-traded funds (ETFs), which are nine times greater than the amount of Bitcoin being mined. He also pointed to Strategy’s (previously MicroStrategy) ongoing accumulation of Bitcoin with a new purchase made on Monday by the company, suggesting that this trend is constraining supply and creating opportunities for further price appreciation. In contrast, fellow analyst Cameron Fous expressed a more cautious outlook on X, suggesting that the current price may represent the peak of the 2025 bull run. He referenced historical price patterns from the previous bull market, asserting that Bitcoin’s recent performance could resemble a “bull trap,” where prices see a sharp decline after reaching a peak. Related Reading: XRP ETF At 83% Approval Odds—Is The SEC Losing Grip? Fous indicated that signs of a potential reversal could be forming, especially if Bitcoin breaks below the 50-day moving average (MA). Despite his caution, he acknowledged that Bitcoin could still rally to between $130,000 and $200,000 in the short term. He emphasized that while the market remains bullish, top signals often precede trend reversals and cautioned that past behavior should inform present decisions, as market dynamics can shift rapidly. When writing, the market’s largest cryptocurrency is trading at approximately $108,739, registering a slight 0.6% retrace in the 24-hour time frame. In total, BTC has retraced little over 3% from its all-time high reached last week. Featured image from DALL-E, chart from TradingView.com
