Bitcoin prices have been sideways in recent sessions, but there is a possibility of a big breakout coming soon. Currently, prices are integrated just below the major resistance trend lines on the daily chart. This level has been held for several days and creates tension in the market as traders are waiting for the next critical move.
Interestingly, analyst Ted Pillows noted in 2020 that the government’s massive spending bill helped send Bitcoin to its best record. Currently, another spending bill is ongoing in 2025, which I hope will be even bigger and repeat history.
In a recent interview, Julio Moreno, Cryptoquant’s research director, shared his Bitcoin price outlook for the next two to three months. According to Moreno, Bitcoin could trade between $87,000 and $99,000 in the short term if current market conditions continue.
Moreno explained that the range is based on on-chain data showing the average price that traders have brought Bitcoin, known as realised prices. In bull markets, prices often move higher again before being revised towards this level. For now, the upper resistance band that will serve as a potential top is $138,000.
Currently, demand for Bitcoin appears to be weakening slightly. Unless you buy the activity in the coming weeks, Moreno said there is a strong chance that you will see the dip towards $99,000 before a massive gathering. He said demand needs to be strengthened to see Bitcoin rise to $138,000.
Moreno further explained that Bitcoin’s top market cycle could still reach around $190,000, but expects the current cycle to grow in 2026. Historically, Bitcoin works well in the final quarter of the year during the Bull Cycle, so a strong finish through 2025 has not been off the table.
