Bitcoin Forms Bullish Pattern Amid Supply Crunch

Bitcoin (BTC) has shown signs of forming a bullish inverse head and shoulders pattern on the three-day chart, despite recent geopolitical tensions that have slowed its momentum. This pattern, which consists of three troughs with a lower low (the "head") between two higher lows (the "shoulders"), suggests a potential reversal from a downtrend to an uptrend. If the pattern holds and there is a successful breakout above the "neckline" resistance, it could indicate rising buying pressure and propel Bitcoin’s price as high as $150,000, according to crypto analyst Mister Crypto.

Analysts remain optimistic about Bitcoin's prospects, with noted analyst Jelle pointing out that BTC has formed a major bullish pennant above previous highs. This is another positive technical signal that suggests continued upward momentum. Additionally, the shrinking supply of Bitcoin on trading platforms indicates that investors are moving their holdings to long-term storage, reducing the amount available for immediate sale. This supply constraint can create upward pressure on price, especially if demand continues to rise.

Another analyst, apsk32, highlighted Bitcoin’s ongoing alignment with the power curve cycle, which it has followed consistently for 15 years. If this trend continues, the next cycle top could occur in November or December 2025. This long-term view suggests that Bitcoin’s price could continue to rise over the coming years, supported by both technical indicators and market dynamics.

Rich Dad Poor Dad author Robert Kiyosaki emphasized that the number of BTC one holds is more important than its current price. In a detailed thread, he predicted that Bitcoin could reach as high as $1 million by 2030. While this price target may seem ambitious, other analysts also forecast new highs in the near term. For example, CryptoQuant analyst Carmelo Aleman recently projected that BTC could top out at $205,000 by the end of 2025. These predictions, while speculative, reflect the growing optimism among analysts about Bitcoin’s long-term potential.

Exchange data further supports the idea of an impending supply crunch, as whales continue to withdraw large amounts of BTC while exchange inflows remain subdued. This dynamic suggests that the supply of Bitcoin available for trading is decreasing, which could drive up prices if demand remains strong. At the time of reporting, BTC is trading at $104,359, down 0.1% in the past 24 hours. This slight dip does not detract from the overall bullish sentiment surrounding Bitcoin’s potential for significant price increases in the coming months and years.