High probability of Bitcoin reaching new peak levels within the next fortnight
In recent weeks, the crypto market has been buzzing with optimism, as Bitcoin's price has shown signs of a potential bull run. The April 2024 halving seems to be following the historical pattern, with the Federal Reserve's interest rate cut playing a significant role.
Over the past two weeks, Bitcoin spot ETFs have attracted nearly $3.04 billion in inflows, a clear indication of growing investor interest. This surge in demand, coupled with the strong futures activity, suggests a bullish run ahead for the world's largest cryptocurrency.
According to market analyst Walter Bloomberg, Bitcoin has a 70% chance of reaching new all-time highs within the next two weeks. The surge in demand, he believes, is a clear sign that Bitcoin could be at the start of a bigger rally. The Federal Reserve's interest rate cut has boosted hopes for a Bitcoin bull run, as more capital tends to flow into risk assets like crypto when there are rate cuts. These rate cuts often drive Bitcoin prices higher.
The trend in the crypto market, according to a report by Coinpedia, is strongly bullish. Bitcoin historically peaks roughly 1,064 days after a halving, and if history repeats, the potential targets for Bitcoin's price in 2025 are between $140,000 and $150,000.
However, market researcher Axel Adler Jr. noted that Bitcoin's price action suggests two possible paths: a period of sideways consolidation or a step-by-step uptrend. As of now, Bitcoin's price is trading near $117,000, and a strong close above $117,500 could confirm a breakout and lower the risk of major pullbacks for the digital asset.
The next major peak for Bitcoin, according to Coinpedia's report, could be around late September or October 2025. As the crypto market continues to evolve, it will be interesting to see if Bitcoin follows its historical pattern after each halving and whether it can indeed reach new all-time highs within the next two weeks.
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