Bitcoin Nears All-Time Highs, Analysts Predict July Breakout

Bitcoin is on the brink of reclaiming its all-time highs, according to a seasoned market observer. Crypto trader Michaël van de Poppe believes that the leading digital asset is poised for a fresh price peak, potentially as early as next month. Van de Poppe highlights Bitcoin’s ongoing upward trend, suggesting that while a brief period of sideways movement could occur, the larger trajectory remains bullish. He identifies $108,900 as the final significant resistance standing in the way of a record-setting breakout.

The analyst emphasized that Bitcoin has already absorbed nearby liquidity levels, typically a signal of building momentum. Should the current pattern hold, he expects the market to push past this ceiling within the next couple of weeks, sparking a new all-time high sometime in July. Van de Poppe also pointed to the potential knock-on effect this breakout could have on the broader crypto market. In his view, many altcoins appear positioned for a rally of their own, particularly if Bitcoin triggers widespread short squeezes. These forced buybacks by traders betting against the market can amplify upward momentum, erasing prior losses across the altcoin space in a matter of days.

At present, Bitcoin is trading just below the resistance threshold, hovering around $107,600. Though the price action has cooled slightly in the last 24 hours, the broader setup suggests that the coming weeks could be pivotal—not just for Bitcoin, but for the entire crypto market. A growing number of cryptocurrency analysts are predicting a significant "Altcoin Season" in 2025, driven by a combination of factors including a potential breakout in the ETH/BTC trading pair and the total altcoin market cap holding a key historical support level. This outlook suggests that if Bitcoin continues its upward trend and achieves new record highs, it could trigger an explosion of altcoin rallies. Analysts anticipate that altcoins could experience another explosive rally if Bitcoin and another asset class, such as the S&P 500, achieve new record highs. The current environment is described as "bulls in control," with technical models indicating potential upside targets for Bitcoin, provided it can maintain its traction above certain levels. The path to new all-time highs for Bitcoin remains open, with on-chain data indicating lower realized profits and technical indicators suggesting a continuation. However, macroeconomic uncertainty remains a headwind, and any increase in global volatility could bring in safe-haven flows into crypto assets. Traders are closely watching key levels, as a close above certain resistance points could signal a quick move to higher targets, while a failure to do so could result in a pullback to key support zones. The current rally in Bitcoin has been driven by a combination of short liquidation, technical breakouts, and easing geopolitical tensions. The cryptocurrency is up nearly 10% in just three days, with traders widely anticipating the move past key resistance levels. The breach of these levels has forced aggressive short positions to unwind, effectively clearing the path for a potential breakout toward higher resistance levels. Popular analysts highlight a recent breakout above the Ichimoku Cloud, signaling further upside potential. From a charting perspective, the Bitcoin price prediction appears bullish after forming a three-bar bullish pattern, indicating strong buyer commitment. However, price action is stalling just below a long-standing descending trendline, suggesting that certain levels remain critical inflection points. Support levels and resistance targets have been identified, with the MACD status indicating a bullish crossover but histogram momentum flattening. A candlestick signal of a spinning top forming under the trendline indicates potential hesitation. If Bitcoin closes above key levels with high volume, a quick move to higher targets could be seen. If not, a short-term pullback to key support zones is possible. The macro outlook remains uncertain, with geopolitical risk evolving from a short-term hedge to a long-term assumption. Market sentiment has shifted back to Eastern Europe as tensions between NATO and Russia escalate. The S&P 500 and Nasdaq experienced a slight bounce, but macroeconomic uncertainty remains a headwind. For Bitcoin, any increase in global volatility could bring in safe-haven flows into crypto assets. However, Bitcoin’s structure remains bullish, with the path to new all-time highs remaining open if key levels hold.