Bitcoin Bull Flag Pattern Signals 25% Price Surge to $140,000

Bitcoin has shown signs of a potential breakout, with analysts predicting a significant price surge. According to popular crypto analyst Crypto Rover, Bitcoin is currently forming a bullish pattern known as a “bull flag,” which historically has led to explosive upward moves. This pattern suggests that Bitcoin could be preparing for its next major breakout, potentially sending prices soaring to $140,000.

Rover notes that Bitcoin has spent nearly 200 days in sideways consolidation, a phase similar to those seen before earlier bull runs. He believes that once Bitcoin breaks past the $110,000 resistance, the path to $130K–$140K could open up rapidly. This phase is described as “the most hated rally” as many remain skeptical during the consolidation phase.

Supporting this bullish thesis, data from CryptoQuant reveals that only 40,000 BTC per day is currently being sent to exchanges, the lowest level seen in over a decade. Historically, such low flows have coincided with market bottoms and the start of major rallies, including in 2016, 2019, and most recently in 2023.

Additionally, Bitcoin spot ETFs are showing strong institutional demand. There have now been two consecutive weeks of inflows, with $588.55 million added on June 24 alone. This strong demand from institutional investors further boosts confidence in a potential price surge.

While the spotlight is on Bitcoin, Crypto Rover also has high hopes for Ethereum (ETH). Backed by a $4.4 million long position, he expects ETH to rise significantly, especially with signs of heavy accumulation from institutions. He has predicted that the ETH price could range between $2,600 and $4,000, depending on how the breakout unfolds.

Rover further added that current funding rates on both BTC and ETH are near zero or even negative, another classic sign of a bullish bottom forming. This indicates that the market sentiment is shifting in favor of a potential price increase for both Bitcoin and Ethereum.