Meanwhile, key support zones are $105,500 and $100,000 if Bitcoin faces a small dip.
Bitcoin price is now trading at $109,236, a level it hasn’t touched in nearly a month. But this isn’t just any price rally. According to top crypto trader Michael van de Poppe, Bitcoin is showing strong momentum that could soon push it past its previous all-time high of $111,970. If this rally holds, a new record could be just a week or two away.
In a recent bitcoin price analysis, Michael shared a key 4-hour chart showing that Bitcoin has cleared a big hurdle, the $106,500 level. Breaking this barrier pushed BTC up past $108,000, where it’s now holding firm near $109,000. This shows that buyers are back and momentum is building.
He notes that when Bitcoin passed $106,500 earlier, it took liquidity from lower levels, which pushed out short traders and gave BTC more energy to rise.
Michael believes the next target is around $110,500. If Bitcoin stays above this mark, it could break its old all-time high of $111,970, or even go higher in the next couple of weeks.
Even with strong momentum, Michael believes that Bitcoin could see small dips along the way. If there’s a pullback, traders are watching the $105,500 area and the $100,000 zone as good spots to add more positions.
These levels should act as strong support if the price cools down before the next leg up.
Being more bullish, Standard Chartered, one of the world’s top banks, just shared a bold Bitcoin forecast. They believe Bitcoin could hit $135,000 by the end of the third quarter of 2025 and might even touch $200,000 by the end of this year.
This big target adds even more hope for traders who believe Bitcoin’s rally is far from over.
With BTC holding above $109,000 and traders feeling confident, the next one or two weeks could be huge for the crypto market.
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