Bitcoin’s (BTC) price is up 8.5% in 2025, with the collective crypto market turning bullish ahead of President-elect Donald Trump’s inauguration on Jan. 20.
Bitcoin 1-month chart. Source: Cointelegraph/TradingView
With BTC breaking past $100,000 yet again, multiple analysts presented new all-time high targets for the largest crypto asset in the coming days.
Could Bitcoin hit $138K in February?
Bitcoin closed a daily candle above $100,000 for the first time on Dec. 8, but since then, it has been above the six-figure level for only six days. A daily close above $100,000 will be a pivotal turn, and Posty, a crypto trader, said that BTC’s current price action reflects its bullish rally from Q1, 2021.
Bitcoin analysis by Posty. Source: X.com
After considering the laws of diminishing returns over a period of four years, the trader believed that if BTC continued to follow its previous cycle pattern, Bitcoin would be valued at around $138,000 in February.
Meanwhile, Cryptochimpanz, a Bitcoin proponent, believed that BTC’s monthly chart illustrated a “nasty” setup from its previous bull run. The trader said,
“If we follow a similar path, the price of Bitcoin can go as high as $200k.”
Bitcoin percent supply in Profit by Axel Adler Jr. Source: X.com
Additionally, Axel Adler Jr. highlighted that 90% of the total Bitcoin supply is currently in profit. The Bitcoin researcher explained that unless there is a “black swan” in the current cycle, BTC drawdowns could be minimal and emulate its 2017 bull run, rather than 2021, when China’s BTC mining ban momentarily halted the rally.
Related: Why is Bitcoin price up today?
Bitcoin’s Coinbase premium at breakeven point
After a period of rigorous selling between Dec. 18 and Jan. 2, Bitcoin’s Coinbase premium has returned to a neutral index, as recorded on Jan. 4. In a recent quick-take post on CryptoQuant, IT Tech, an anonymous Bitcoin analyst explained that the premium increasing back to a breakeven point shows that “sentiment by the US and institutional investors is back.”
Bitcoin Coinbase Premium Index. Source: CryptoQuant
However, it is important to remember…
..
