Bitcoin Surges 6.56% to $109,549.62 on Bullish Momentum

Bitcoin's price has surged past $109,000, driven by a bullish momentum that has captured the attention of investors worldwide. The cryptocurrency market has seen a significant increase, with the global market cap rising by 1.23% to $3.44 trillion. This bullish sentiment is further supported by a greed score of 69 on the Fear & Greed Index, indicating a strong appetite for risk among investors. Bitcoin's dominance in the market has also increased to 63.3%, highlighting its pivotal role in the current market dynamics.

Bitcoin's price has been on a steady climb, currently standing at $109,549.62, with a 6.56% gain over the past week. The cryptocurrency has traded within a range of $106,683.37 to $109,854.53, with bulls maintaining control. This upward trend is largely attributed to institutional flows, particularly through spot ETFs, which have been directly influencing Bitcoin's behavior. According to a recent chart, the actual Bitcoin price is nearing the model forecast of $115,000, with $120,000 becoming a more realistic target.

Adding to the bullish outlook, a popular crypto analyst, Doctor Profit, has highlighted a Golden Cross signal on X. This signal, which has an 87.8% historical accuracy on higher timeframes, has occurred for the third time in two years. Past instances of this signal have resulted in significant price surges, such as the October 2023 rally from $27,000 to $73,000 (+170%) and the October 2024 rally from $63,000 to $109,000 (+73%). The latest Golden Cross, occurring in May 2025 at $110,000, suggests the potential start of another major upward movement. Historically, such rallies have seen weekly growth rates of 3.5% to 8.5% over 3 to 5 months. Based on this trajectory, Bitcoin could be on track to reach Doctor Profit’s forecast range of $117,000 to $120,000, with $113,000 identified as the next key liquidity level, just 6% from the current price.

Given the strong institutional demand, the recent Golden Cross, and the current momentum, analysts predict that Bitcoin could reach $113,000 this week. This forecast is based on the historical performance of the Golden Cross signal and the current market conditions, which suggest a continued bullish trend for the cryptocurrency.