Bitcoin Price Consolidates Below Resistance Amid 2025 Spending Bill Hopes

Bitcoin's price has been relatively stable in recent trading sessions, with the cryptocurrency consolidating just below a significant resistance trendline on the daily chart. This consolidation has created a sense of anticipation among traders, who are eagerly awaiting the next major move. The current price level has held firm for several days, indicating a period of market tension as participants assess the potential for a breakout.

Analyst Ted Pillows drew a parallel between the current market conditions and those of 2020, when a substantial government spending bill contributed to Bitcoin's surge to record highs. With another, even larger spending bill on the horizon for 2025, Pillows suggested that history could repeat itself, potentially driving Bitcoin's price higher.

In a recent interview, CryptoQuant’s Head of Research, Julio Moreno, provided his outlook for Bitcoin's price over the next two to three months. According to Moreno, if current market conditions persist, Bitcoin is likely to trade within a range of $87,000 to $99,000 in the short term. This range is based on on-chain data, which shows the average price at which traders acquired their Bitcoin, known as the realized price. In bull markets, prices often correct toward this level before resuming their upward trajectory. The upper resistance band, which could act as a potential ceiling for now, is situated at $138,000.

Moreno noted that current demand for Bitcoin appears to be slightly weakening. If buying activity does not pick up in the coming weeks, there is a higher likelihood of seeing a dip toward the $99,000 mark before any significant rally. To reach the $138,000 level, Moreno emphasized that demand would need to strengthen considerably.

Looking further ahead, Moreno suggested that Bitcoin's market cycle top could reach around $190,000 later on, although he expects the current cycle to extend into 2026. Historically, Bitcoin has shown strong performance in the final quarter of the year during bull cycles, making a robust finish to 2025 a plausible scenario.