6-7-2025 – Bitcoin’s price is hovering near a critical resistance trendline on the daily chart, signaling a potential breakout. The cryptocurrency has been consolidating just below this level for days, with traders anticipating a decisive move that could shape its short-term trajectory.
CryptoQuant’s Head of Research, Julio Moreno, projects Bitcoin to trade between $87,000 and $99,000 over the next two to three months if current market conditions persist. This range is informed by on-chain data tracking the realized price—the average price at which traders acquired their Bitcoin.
Moreno notes that in bull markets, prices often dip toward this level before resuming upward momentum. However, a rally to the upper resistance of $138,000 would require a significant increase in buying demand, which has shown signs of softening recently.Analyst Ted Pillows highlighted a historical parallel, noting that a 2020 government spending bill fueled Bitcoin’s surge to record highs.
With a larger spending package proposed for 2025, some traders are hopeful for a repeat performance. Moreno remains optimistic about Bitcoin’s longer-term outlook, suggesting a potential cycle peak near $190,000 by 2026, supported by Bitcoin’s historical strength in the final quarter of bull cycles.