Bitcoin’s current price action is following a pattern similar to the 2016-2017 cycle and could hit a peak of $150,000 before experiencing a pullback, according to Glassnode lead analyst James Check. He identified the range of $120,000 to $150,000 as Bitcoin’s “topping cloud,” suggesting any move above this level is unlikely to hold for long.
At present, Bitcoin is trading around $104,120, and Check noted that short-term holders have an average entry price of $90,349, while long-term holders bought at an average of $24,627, meaning significant profits could be realized at higher levels. If Bitcoin reaches $150,000, short-term holders could see 66% gains, while long-term holders could be up by 509%.
Looking back at Bitcoin’s 2017 rally, the price consolidated between $800 and $1,600 in the first half of the year before surging to a peak of $19,783 in December. If a similar pattern unfolds, Bitcoin could remain in consolidation until May 2025, with gradual rallies and corrections.
Other traders are optimistic about Bitcoin’s future trajectory. Pseudonymous analyst Bitquant argued that those claiming Bitcoin has already “topped out” will miss out on further significant gains. Meanwhile, trader Braver believes the first quarter of 2025 will witness a strong bull rally, though the market’s true macro top may arrive in Q4 2025, followed by a bear market in 2026.
Additionally, trader Mags pointed out that since Bitcoin hit an all-time high above $109,000 on Jan. 20, history suggests another all-time high could occur within 230 to 330 days, likely between July and October 2025.
Source: Cointelegraph
