Key points:
- Analyst BitQuant says Bitcoin is unlikely to fall below $100,000 during the current bull market.
- Recent forecasts suggest the $145,000 mark remains within reach for BTC.
- Meanwhile, a potential drop below $114,500 could close a CME futures gap that has been open since July.
Bitcoin is unlikely to approach $100,000 during the ongoing correction, as new all-time highs are still expected.
According to X analyst BitQuant, traders can remain optimistic, with forecasts pointing to a potential BTC price of $145,000.
BitQuant signals that the path to $145,000 for BTC remains clear
Bitcoin may have dipped below $114,500, marking an 8.8% pullback from its recent all-time high, but not everyone is concerned about the short-term outlook.
BitQuant, a popular analyst on social media known for his bullish views on Bitcoin across both short and long-term timeframes, asserted that BTC/USD will hold above six figures.
“Bitcoin isn’t going below $100K — not in this cycle. News, the Fed, inflation… none of it matters,” he said on Monday.
When asked if the price might “touch” that psychological level, he added that BTC/USD wouldn’t “even come close.”
This outlook comes as BitQuant reaffirmed his next local peak target of $145,000, expected to play out through 2025.
The pseudonymous analyst has previously made headlines by accurately forecasting Bitcoin’s previous all-time high in 2024, which occurred ahead of the block subsidy halving.
Current signals now point to a potential cycle top around $250,000.
Another Bitcoin pullback closes a CME futures gap
Other market participants remain wary of further declines.
Trader Roman, known for his cautious outlook during this stage of the bull market, believes $100,000 is far from secure.
“My guess is this drop won’t find a solid support area until around $112K,” he told his X followers on Tuesday.
“Depending on IF we can find a reversal, a close below would be ugly and take us straight to 97k. Currently not seeing any signs of reversal so far.”
Roman had earlier pointed to the weak trading volume at Bitcoin’s recent all-time high as evidence that the rally was unsustainable. He argued that BTC was beginning to resemble its behavior during the peak of the previous bull run in late 2021.
Traders remain closely watching exchange order-book liquidity, anticipating a potential short squeeze after Bitcoin’s dip below $114,500.
According to data from monitoring platform CoinGlass, 24-hour crypto liquidations stood at $333 million at the time of writing.
Trader and analyst Rekt Capital notes that BTCprice has filled a “gap” left in CME Group’s Bitcoin futures market from July.
