Crypto analyst Tony Severino thinks Bitcoin is about to explode. He’s noticed something big: Bitcoin CME (Chicago Mercantile Exchange) futures just topped $100,000!
The $100,000 Milestone and What it Means
This isn’t just some random number. Severino says this milestone, combined with Bitcoin’s RSI (Relative Strength Index) being above 70 (meaning strong upward momentum), puts Bitcoin firmly in “bull zone” territory. Historically, when this has happened, Bitcoin’s price has skyrocketed.
Past Performance Predicts Future Gains?
Severino shared a chart showing three previous times Bitcoin CME futures passed $100,000 with the RSI above 70. The results were impressive:
- October 2023:
A 59.76% price jump, adding roughly $3,546 to Bitcoin’s value. - February 2024: An even bigger jump – 76.08%, adding about $6,486.
- November 2024: Another strong rally of 59.23%, adding around $8,117.
Based on these past surges, Severino predicts a 59% to 76% increase this time around, potentially pushing Bitcoin to between $158,000 and $174,000!
More Than Just Futures: Money is Flowing In
Adding to the bullish sentiment, another analyst, Trader Tardigrade, points to Bitcoin’s Money Flow Index (MFI) breaking out. The MFI tracks the flow of money into and out of Bitcoin, and a breakout suggests strong buying pressure. With Bitcoin already nearing $100,000, Tardigrade predicts a price surge to $132,000 by February 2025.
The Bottom Line: Get Ready for a Ride?
Both Severino and Tardigrade see strong indicators pointing to a significant Bitcoin price rally. While past performance doesn’t guarantee future results, the confluence of these technical signals has many analysts feeling bullish about Bitcoin’s prospects. Could we really see Bitcoin hit new all-time highs soon? Only time will tell.
