Glassnode co-founders Jan Happel and Yan Allemann predicted that Bitcoin (BTC) worth may attain the height of the present cycle inside simply 4 to 5 weeks.
As reported by U.As we speak, the flagship cryptocurrency reached a brand new file excessive of $125,708 on the Bitstamp alternate.
Nevertheless, it did not enter a brand new worth discovery section and gave up most of its beneficial properties, falling beneath the $123,000 degree earlier at this time.
To this point, the sudden worth bounce appears like a typical Sunday fakeout, and it is unclear whether or not the newest rally will truly lead to something substantial.
Will the bull market proceed?
Numerous consultants, together with Tom Lee, consider that the cryptocurrency may surpass $200,000 this 12 months. Nevertheless, it’s extremely unlikely that this can occur throughout the comparatively brief time-frame talked about by Glassnode analysts.
In response to Polymarket bettors, there may be solely a 1% probability that Bitcoin will soar to $200,000 this month. The likelihood of BTC finally exceeding this degree in the course of the the rest of 2025 is at present 7%.
Some bulls consider there may be nonetheless room for BTC to function attributable to the truth that regardless of the current rally, the cryptocurrency nonetheless underperforms by round 10%. If Bitcoin regains its 2021 peak in opposition to the yellow metallic, its worth will commerce above $150,000 (assuming gold costs stay flat).
