Bitcoin Eyes $116K: Are All-Time Highs Just Around the Corner?
Bitcoin is heating up again—and not just figuratively. With the price hovering around $104,400 as of May 18, 2025, analysts and traders are making bold predictions, some pointing to a breakout that could push BTC to $116,000 or even higher in the coming weeks. Let’s dive into what’s fueling this optimism and explore the latest predictions from some of the most respected voices in crypto.
A Bitcoin Breakout is Brewing: BTC’s Tight Range Signals a Storm Ahead
Bitcoin has spent the last week moving sideways, trading tightly between $103,000 and $105,000. While some may view this as stagnation, seasoned traders recognize it as a classic setup for a major price movement.
Trader Alan, a well-followed voice on X (formerly Twitter), observed:
“Bitcoin is brewing within this converging triangle with decreasing volume, which is a common indicator of potential for a breakout.”
This pattern—known as a symmetrical triangle—often precedes explosive price action as buying pressure builds up. Data from CoinGlass and TradingView supports this, showing minimal volatility and liquidity magnet zones around $103K and $105K. The conditions are ripe for a breakout.
What Are the Analysts Saying?
Here’s a breakdown of what top market watchers are predicting for Bitcoin’s next move:
Alan: $116,000 Short-Term Target
Alan’s chart analysis points to a short-term breakout to $116,000, possibly by early next week. He highlights the technical structure of the market and shrinking volatility as strong signals for a big move.
Mikybull Crypto: “Intraday Diamond Pattern Breakout”
Another popular crypto analyst, Mikybull Crypto, sees an “intraday diamond pattern breakout” forming—a bullish continuation pattern that typically suggests a powerful surge ahead. If confirmed, it could act as the catalyst BTC needs to break out of its narrow range.
Daan Crypto Trades: U.S. Demand is Back
Daan Crypto Trades notes a sustained Coinbase spot premium, indicating robust U.S. demand for BTC:
“This is good and shows there’s solid demand. We’ve seen consistent premium pricing on U.S. exchanges—a bullish sign.”
He also notes that Bitcoin has not yet broken past its final resistance compared to stocks, suggesting more room for growth once the correlation weakens or BTC outpaces equities.
CrypNuevo: Cautiously Optimistic
In contrast, CrypNuevo takes a more conservative stance:
“Bitcoin hasn’t been able to break resistance so far, which still makes me think that a short pullback might be in play before we head higher.”
CrypNuevo suggests a possible short-term dip, possibly toward $100K or even $98K, before Bitcoin resumes its upward climb.
Institutional and Macro Backing: More Than Just Charts
The bullish momentum isn’t only about technical patterns. A mix of macroeconomic factors and institutional tailwinds are supporting these high predictions:
Standard Chartered’s Geoff Kendrick: $120K by Q2, $200K by Year-End
In a recent note to clients, Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, reiterated his bold forecast:
“We see Bitcoin reaching $120,000 by the end of Q2 2025, with a possible rise to $200,000 by year-end.”
He cites a growing perception of Bitcoin as a superior safe-haven asset, potentially outperforming gold. Institutional buyers—pension funds, sovereign wealth funds, and large hedge funds—are ramping up their exposure, particularly through U.S.-listed Bitcoin ETFs.
In fact, Abu Dhabi’s Mubadala sovereign wealth fund recently disclosed holdings of over $409 million in the iShares Bitcoin ETF, a sign that major players are entering the market with confidence (Reuter
What’s Next for Bitcoin?
Here’s what to watch for in the coming days and weeks:
- Key Resistance: $105K is acting as the final short-term resistance before all-time highs. A clean break above this could open the floodgates.
- Support Zones: Immediate support sits around $102,668, with deeper support near $98,000 in case of a dip.
- Volume Spike: A volume breakout could confirm a directional move. Decreasing volume within the triangle formation suggests a breakout is imminent.
- Macroeconomic News: Watch Fed signals, global inflation reports, and regulatory updates—all of which could impact market sentiment.
Final Thoughts
Bitcoin is standing on the edge of what could be a historic breakout. With bullish chart patterns, strong institutional support, and favorable macroeconomic conditions, the stage is set for a potential push beyond $116,000, possibly reaching $120,000 or more in the months ahead.
