Key takeaways:
Bitcoin (BTC) price has formed a new intraday high on each daily candle this week, with the crypto asset slowly grinding toward a new all-time high. In line with its current trajectory, 21st Capital co-founder Sina noted that Bitcoin is approaching a pivotal moment around the $108,000 level.
The Bitcoin Quantile Model update shows that BTC’s market reflects the same “heat” that was present after President Trump’s post-election rally and the spot ETF-driven highs during Q4 2024. The model, which uses quantile regression to map Bitcoin’s price phases on a logarithmic scale, indicates the cryptocurrency is in the Transition Zone, a critical juncture before the Acceleration Phase. Throughout Q4, 2024, Bitcoin rallied by 45% after entering a price discovery period above $74,500.
Bitcoin Quantile Model. Source: X.com
As illustrated in the chart, once it breaks into the “Acceleration” Phase, it could trigger BTC’s next leg or the mid-phase, typically between the 33% and 66% range. Based on the model, BTC is expected to progressively target price levels of $130,000 and $163,000 in the coming months.
However, anonymous Bitcoin analyst apsk32 believed a price target above $200,000 is a “reasonable” expectation for 2025. Basing the projection on Bitcoin’s “power curve,” the analyst noted that BTC’s position relative to gold has significantly improved since April.
From a technical standpoint, this view is supported by the recent convergence of the Sharpe ratios for Bitcoin and gold, suggesting that the two hard assets now offer comparable risk-to-reward profiles to their investors.
Fidelity’s Director of Global Macro Jurrien Timmer shed light on this development, recommending a 4:1 goal-to-Bitcoin ratio from an allocation perspective.
Related: Bitcoin ‘blow-off top’ set at $128K with new all-time highs in sight
Strong Bitcoin volumes “final straw” before new highs
Crypto researcher Aylo analyzed BTC’s historical price action when the crypto asset consolidates near its all-time high level. In an X post, the analyst explained,
“The data shows when BTC gets close to…..
