Important takeouts:
Bitcoin (BTC) prices jumped to a new quarterly high at $96,700 on May 1st, the day after US GDP signed -0.3% for the first time since the second quarter of 2022.
Over the past 24 hours, the liquidation of short positions has exceeded $137 million, with Alfractal founder Joao Wedson observing that BTC’s price momentum continues to support bullish trends.
Peter Brandt predicts a Bitcoin top of $150,000 by the third quarter
In a recent post on X, veteran trader Peter Brandt predicted a Bitcoin price rally that could reach $125,000 to $150,000 by August or September 2025. Traders predicted the parabolic arc pattern for Bitcoin price charts.
Brandt pointed out that Bitcoin must regain the broken parabolic slope to achieve the above targets. However, he warned that corrections of over 50% could follow the peak, reflecting the distinctive volatility of the pattern.
From an on-chain perspective, Bitcoin researcher Axel Adler Jr. pointed out that Bitcoin is in the cusp of the “Start” rally zone. Analysts highlighted three scenarios and outlined a price target of optimistic (bull) cases exceeding $150,000. Adler Jr. has been added,
“If the ratio breaks 1.0 and holds it above that, the NUPL/MVRV metrics show a new impulse, with prices reaching 150-175K and potentially repeating the 2017 and 2021 cycle logic.”
In a baseline scenario, BTC prices may consolidate within the $90,000 to $110,000 range if new capital inflows are limited and existing investors do not increase their positions.
Finally, further profits from short-term holders could unfold a bearish case if the fix is made between $85,000 and $70,000.
Over the past two weeks, Bitcoin has displayed a consistent breakout pattern, surged by 13% before entering the horizontal integration, reaching $93,000-$96,000 again.
BTC is currently out of its existing range of resistance. Still, as shown in the chart below, the large clusters of $96,000 to $99,000 suggest a phase of integration before Bitcoin tests its $100,000 mark.
Related: As Fed rate cut odds jump to 60%, the higher the Bitcoin price will be
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
