Bitcoin has surged to new record highs, sparking debate over just how far the world’s largest cryptocurrency could rise in 2025. With prices climbing over 14% in the past week alone, reaching around $123,250 on 14 July, various technical patterns and market fundamentals are pointing to potential targets ranging from $130,000 to $200,000.
Bitcoin Breaks Out to Record Highs
Bitcoin’s recent rally has captured global attention. Data from TradingView shows the BTC price has climbed by more than 14.65% over the past seven days, setting a fresh all-time high of approximately $123,250. This surge coincides with a broader bullish sentiment in the crypto market, driven by strong ETF inflows and optimism surrounding upcoming regulatory developments in the United States.
BTC/USD weekly price chart. Source: Peter Brandt/TradingView
This week, the US House is expected to debate the Senate’s GENIUS stablecoin framework, a move pushed forward by Republicans aiming to advance Donald Trump’s crypto-friendly agenda. At the same time, Bitcoin ETFs attracted over $2.7 billion in net inflows last week alone, marking the fifth-largest weekly addition since their debut in January 2024. These twelve funds now manage around $151 billion in assets.
Technical Patterns Signal More Upside
Bitcoin has entered a breakout phase from a classic “bull flag” pattern, which typically signals the continuation of an upward trend. The breakout was confirmed on 9 July when BTC moved above the flag’s upper trendline, accompanied by a noticeable increase in trading volume. This technical formation suggests a near-term target of $130,000 by August.
Onchain analyst Axel Adler Jr. supported this view by citing the MVRV ratio, which measures the average profit of Bitcoin holders. He noted that when this ratio hits 2.75, it often marks a point where long-term investors start to take profits. According to his model, that level now corresponds to a Bitcoin price of roughly $130,900.
Cup and Handle Pattern Projects $150,000 Target
Further strengthening the bullish outlook is a confirmed breakout from a “cup and handle” pattern on Bitcoin’s daily chart, first identified by analyst RJT.WAGMI. This formation, which started in January 2025, typically indicates strong continuation after a consolidation phase. The pattern points to a potential move towards $150,000, suggesting a 33% gain from the breakout level near $110,000.
This $150,000 target is shared by several other prominent analysts, including Milk Road co-founder Kyle Reidhead and trading publication The Kobeissi Letter. Veteran trader Peter Brandt has also forecast a Bitcoin rally to $125,000–150,000 by late August or September, based on a long-term parabolic trend. His prediction, made in May, has closely mirrored Bitcoin’s current price movements.
Warning Signs of a Mid-Cycle Correction
While optimism is widespread, some analysts are urging caution. Peter Brandt has warned that Bitcoin could face a sharp correction once it reaches the $125,000–150,000 zone. He predicts a potential 50% drop following this peak, consistent with corrections observed during previous bull markets.
However, others believe the cycle has more room to grow, with some even projecting a higher ceiling before any major reversal.
Power Curve Model Points to $200,000 Peak
A long-term model known as the Power Curve Cycle Cloud, created by onchain analyst apsk32, offers a more ambitious projection. By comparing Bitcoin’s historical four-year cycles, the model shows that Bitcoin remains on track within its expected performance range. If this trend continues, the cryptocurrency could climb as high as $200,000 by November or December 2025.
Bitcoin Power Curve Cycle Cloud (in gold ounces terms). Source: apsk32
The model also tracks Bitcoin’s price in terms of gold rather than dollars. By this measure, Bitcoin appears to be in the early stages of its bull run, suggesting further upside potential. According to apsk32, inflows from ETFs and rising global economic uncertainty could push Bitcoin well beyond the $200,000 mark.
Conclusion
As Bitcoin continues to chart new highs, technical indicators and market dynamics suggest the bull run may not be over yet. Short-term targets between $130,000 and $150,000 are within reach, but the possibility of a correction looms once those levels are hit. Still, some long-term models point to a peak as high as $200,000 by year-end, keeping investors hopeful yet cautious.
