Bitcoin’s price action has been pretty exciting lately. After a slow start to 2025, it’s really taken off in the second quarter. It recently broke the $100,000 mark and is eyeing its previous all-time high of $108,786. It feels like the crypto market is back to its late 2024 highs.
A Bullish Breakout?
One market expert, Aksel Kibar, believes the price dips earlier this year were just part of a larger breakout. Back in November 2024, following Donald Trump’s election win and a surge in bullish sentiment, Kibar spotted a significant breakout signal in Bitcoin’s price on a monthly chart.
The Cup and Handle Pattern
Bitcoin broke above a “minor high” around its then-all-time high of $73,737. Kibar noted that historically, Bitcoin tends to skyrocket after surpassing this minor high. This breakout formed a “cup and handle” pattern – a bullish indicator suggesting continued upward momentum. The price rallied significantly after breaking $73,737, eventually hitting a six-figure valuation. While there was a correction down to around $74,000 after the January all-time high, it seems to have been a minor pullback before resuming its upward trend.
Kibar’s Prediction
Based on this cup and handle pattern, Kibar predicts a Bitcoin price target of around $137,000 – a more than 33% increase from the current price.
Bitcoin’s Current Price
At the time of writing, Bitcoin is trading around $103,071, up almost 1% in the last 24 hours and over 6% for the week.
