The crypto market capitalization has surged back above $3 trillion, displaying the growing strength within the space. While the volume remains restricted within a range, the rise in the market capitalization suggests a notable rise in the bullish strength as the Bitcoin price rises past $97,000. Despite this rise, the token is expected to maintain a strong ascending trend and eventually reclaim $100K in a short while from now.
The BTC price has consolidated for over a week and triggered a breakout above the range with capital influx and bullish sentiments swirling around $100K. On-chain data shows whales and the long-term holders are buying while the exchange reserves continue to drop. This generated a supply squeeze that pushed the price above the consolidated range. However, the price is required to rise above the ‘broken parabolic slope’ that may pave the way for a new ATH as suggested by crypto veteran Peter Brandt.
Peter Brandt shared a historical chart of Bitcoin where the BTC price followed a parabolic curve in 2021 and formed a new ATH. Currently, the price has dropped below the curve, and a rise above the curve could trigger a strong bull run. The price is predicted to reach $125,000 to $150,000 by August-September 2025, but the analysts warn of a 50% o