Bitcoin could reach $130,000 to $150,000, Peter Brandt said.
Bitcoin (BTC), the world's largest cryptocurrency, has gained attention from crypto enthusiasts following its impressive performance in market value over the past 24 hours.
Peter Brandt's Bitcoin Prediction
Amid this rally and bearish market sentiment, veteran trader Peter Brandt on X (formerly Twitter) predicted that BTC could reach the $130,000 to $150,000 range by August or September 2025.
Additionally, they pointed out that BTC is in a range where it will find a significant supported rally. In a post on X, Peter said, “Bitcoin $BTC is in the bull market half-cycle sweet spot, which should peak in the $130k to $150k range next August/September.
A possible reason for this upheaval and price increase is the outcome of the US presidential election and the pro-Creto and President Donald Trump.
Current price momentum
As of now, Bitcoin is trading near $75,800 and has seen a price increase of over 10% in the last 24 hours. During the same period, trading volume rose by 160 percent, indicating strong market sentiment from traders and investors.
Bitcoin technical analysis and upcoming level
According to expert technical analysis, BTC has broken out of the critical resistance level of $73,935 and is close to the daily candle above $75,600. Following this breakdown and the daily candle closing above the resistance level, BTC has turned bullish and is poised for a significant upside rally at the upcoming level.
Based on recent price action and historical momentum, if BTC closes a candle above $75,600 on a daily basis, there is a strong possibility that it may go higher in the coming days.
Bullish On-Chain Indicators
On-chain metrics further support BTC's bullish outlook. According to on-chain analytics firm Coinglass, BTC's Long/Short ratio currently stands at 1.03, indicating strong bullish sentiment among traders. In addition, open interest increased by 15%, which reflects the growing interest of traders and the formation of new positions.
