Weak US economic data stimulated market expectations for interest rate cuts and risk-averse narratives, with Bitcoin surging to $97,424 last night, reaching a two-and-a-half-month high. Veteran trader Peter Brandt even predicted that if the technical pattern holds, BTC's bull market peak could reach between $125,000 and $150,000, drawing significant market attention.
Further Reading: US Economy Explodes: Q1 GDP Unexpectedly Contracts 0.3%, Core Inflation Heats Up - True Economic Recession or Just Technical Distortion?
Technical Analysts Bullish: Returning to Parabolic Trajectory, BTC Looks to $150,000
Peter Brandt noted on the X platform yesterday that if Bitcoin can return to its "parabolic trajectory", it could surge to the $125,000 to $150,000 range in the third quarter of 2025 (around August to September).
His price chart shows that this technical pattern is similar to the bull market from 2020 to 2021, when BTC rose from $3,700 to nearly $65,000.
However, Brandt also warned that parabolic patterns typically come with severe corrections, and once the peak is reached, there could be a drop of up to 50%, so investors should be wary of volatility risks.
On-Chain Data Support: Entering 'Upward Zone', Bull Market Structure Continues
From an on-chain data perspective, researcher Axel Adler Jr. believes that Bitcoin has entered the "upward zone". Currently, indicators calculated by NUPL and MVRV have reached 0.8. If it breaks through 1.0 and maintains that level, it will trigger a new bullish momentum, with price targets looking to $150,000 to $175,000, similar to the bull market trajectories of 2017 and 2021. This is his optimistic scenario.
He also outlined two other scenarios:
- Base Scenario (Consolidation): If the Ratio remains between 0.8 and 1.0, the market will be in a wide range of $90,000 to $110,000. Participants will continue to hold positions but won't significantly increase them.
- Pessimistic Scenario (Correction): If the Ratio drops to around 0.75, short-term holders will start taking profits, and prices could correct to $70,000 to $85,000. Considering the current correction, the first two scenarios are more likely to occur.
Key Pressure Zone Approaching
Despite breaking through $97,000, market observers note that Bitcoin is approaching a high-volume trading zone between $96,000 and $99,000, expecting short-term consolidation. If it effectively breaks through and stabilizes above $100,000, it will become an important psychological and technical support level, laying the groundwork for challenging Brandt's predicted $150,000 high.
Looking ahead to Bitcoin's future, attention should also be paid to tonight's non-farm employment data and the progress of tariff negotiations between the Trump administration and various countries, especially interactions with China.
