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The Bitcoin market is the setting, with a supply squeeze and rising demand. A strong bullish breakout is anticipated, with the price potentially reaching $143,000. Investors are moving coins to self-custody wallets, and companies are buying thousands of coins per week. The supply on exchanges is at its lowest since December 2017. A sense of anticipation and excitement fills the air as market participants await the breakout.

Bitcoin (BTC) is poised for a significant bullish breakout, with analysts eyeing a potential price surge to $143,000. This anticipation is fueled by a combination of declining exchange supply and rising demand, creating a supply squeeze that could propel the cryptocurrency to new heights. As of June 10, 2025, Bitcoin is trading at $109,860, up nearly 10% from its lowest point this month and 50% above its April low [1].

Santiment data indicates that the Bitcoin supply on exchanges has dropped to 1.18 million, the lowest level since December 2017. This trend suggests that more investors are moving their coins to self-custody wallets, indicating a reduced intent to sell. Meanwhile, demand is rising faster than new coins are being mined. Only about 450 new Bitcoins are mined each day, or roughly 3,150 per week. Bitcoin miners now hold 1.7 million coins, the lowest level since 2010 [1].

Companies are also buying thousands of coins per week, with Strategy leading the charge. Other top purchasers include Metaplanet, Twenty One, KULR Technology, and MicroCloud Hologram. Additionally, spot Bitcoin exchange-traded funds (ETFs) are seeing substantial demand this year. They recorded over $386 million in inflows on Monday, bringing the cumulative total to $44 billion. These ETFs now hold Bitcoins worth $131 billion, or 6% of total supply [1].

The Bitcoin price technical analysis shows that BTC has formed a textbook cup-and-handle pattern. The upper side of the cup sits at $109,220, while the lower side is at $74,558. The price is now close to completing the handle portion of this pattern, signaling potential for further upside. The pattern has a depth of 31%, and projecting that from the cup’s upper side yields a target of $143,360 [1].

Analysts, such as Crypto Michael, predict that the next phase of the greatest bull run may begin this week. He believes that the Bitcoin rally from $15,300 to $112,000 was just a test pump, and the next phase could lead to a parabolic rise in the entire crypto market [1].

The current market sentiment is bullish, with the price up nearly 2% and trading around $107,670. However, analysts warn that BTC still risks a drop below $105,000, depending on the outcome of US-China trade talks. The recent job data came in stronger than expected, and economists predict higher CPI inflation data at 2.5% and PPI data at 2.6% [2].

Despite the recent volatility, strategic treasury moves and institutional adoption have anchored long-term bullish sentiment around Bitcoin. The Blockchain Group plans to raise $340 million for its Bitcoin treasury, indicating growing institutional adoption of crypto in Europe [2].

In conclusion, Bitcoin is positioned for a strong bullish breakout, driven by a supply squeeze and rising demand. As market participants await the breakout, the price could potentially reach $143,000.

References:
[1] https://crypto.news/will-bitcoin-continue-rising-analyst-eyes-breakout-as-demand-outpaces-supply/
[2] https://bitzo.com/2025/06/bitcoin-price-analysis-btc-crosses-107000-as-momentum-returns