Bitcoin Breaks $108,000 Resistance, Eyes 20% Gain

Analysts are currently debating the next expectations for Bitcoin, with some predicting another retest before a significant price increase, while others anticipate that Bitcoin will reach its cycle top targets within the next 2-3 months. The price of Bitcoin has been trading steadily between $108,000 and $110,000, indicating a strong and promising upward trend.

Bitcoin has shown remarkable performance, setting a new all-time high (ATH) price before the Bitcoin Halving event, which is unprecedented. Previous cycles saw Bitcoin set new ATHs after the halving event. Following the halving, Bitcoin experienced fluctuations before hitting higher targets around the $90,000 price level. The new year brought Bitcoin's first 6-digit ATH, but the subsequent three months saw a correction phase, with prices dropping to around $70,000. Analysts view this early pump and correction as a sign of a healthier market ahead.

Currently, Bitcoin has broken through the $108,000 price resistance level and is trading between $108,000 and $110,000. This suggests that Bitcoin could soon reach much higher targets. Some analysts have set the next ATH targets for Bitcoin between $114,000 and $137,000, while others expect another retest to occur first. One analyst noted that a bull flag breakout on the daily timeframe has turned out to be a fakeout, indicating that Bitcoin has failed a retest.

Another analyst observed that many are expecting Bitcoin to peak in its bull market in September or October 2025, based on historical halving cycles. If Bitcoin follows the same pattern as previous bull cycles, it could set its cycle top prices in the next 2-3 months. However, others expect a deviation from previous cycles, suggesting a longer run to cycle top prices.