After a shaky start to the week, Bitcoin has bounced back strongly, now trading around $107,000 with a 5% recovery. But according to popular crypto analyst Crypto Rover, this could be just the beginning.
He believes Bitcoin is preparing for its next major breakout, and this one might send prices soaring to $140,000.
Bitcoin Price Eying $140k
In a recent tweet post, crypto analyst Crypto Rover believes Bitcoin is currently forming a bullish pattern known as a “bull flag,” which often leads to explosive upward moves in past Bitcoin cycles.
He notes that Bitcoin has now spent nearly 200 days in sideways consolidation, a phase very similar to ones seen before earlier bull runs.
In his view, once Bitcoin breaks past the $110,000 resistance, the path to $130K–$140K could open up rapidly. “This could be the final run-up,” Rover said, calling it “the most hated rally” as many remain skeptical during the consolidation phase.
On-Chain Data Supports the Breakout
Adding to Rover’s bullish thesis, data from CryptoQuant reveals that only 40,000 BTC per day is currently being sent to exchanges, the lowest level seen in over a decade.
Historically, such low flows have coincided with market bottoms and the start of major rallies, including in 2016, 2019, and most recently in 2023.
At the same time, Bitcoin spot ETFs are showing strong institutional demand. According to Fairside data, there have now been two consecutive weeks of inflows, with $588.55 million added on June 24 alone.
Ethereum Eyeing $4000 Mark
While the spotlight is on Bitcoin, Crypto Rover also has high hopes for Ethereum (ETH). Backed by a $4.4 million long position, he expects ETH to rise significantly, especially with signs of heavy accumulation from institutions like BlackRock.
He has predicted that the ETH price could range between $2,600 and $4,000, depending on how the breakout unfolds.
He further added that current funding rates on both BTC and ETH are near zero or even negative, another classic sign of a bullish bottom forming.
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FAQs
As per Coinpedia’s BTC price prediction, the Bitcoin price could peak at $168k this year if the bullish sentiment sustains.
With increased adoption, the price of Bitcoin could reach a height of $901,383.47 in 2030.
As per our latest BTC price analysis, Bitcoin could reach a maximum price of $13,532,059.98
By 2050, a single BTC price could go as high as $377,949,106.84
