Jun 10, 2025
3 0
Bitcoin Price Could Rise 70%-170% Following Recent Market Signals
The Bitcoin price remains above $100,000 after a brief dip to $104,000, indicating strong support at this level. Current market conditions raise questions about future movements.
Key Insights
- Crypto analyst Doctor Profit maintains a bullish stance on Bitcoin, predicting potential price doubling despite recent volatility.
- A Golden Cross formation on the Bitcoin chart three weeks ago historically signals beginnings of significant price increases.
- Bitcoin has formed a diagonal resistance that, if broken, could push its price above $108,000.
Macro Factors Influencing Bitcoin
- Upcoming Consumer Price Index (CPI) data is anticipated to show inflation around 2.5%, but analyst expectations suggest a lower outcome between 2.1% and 2.3%, which may encourage risk-taking in markets.
- The negative funding rate indicates increased short positions in the market, suggesting a healthy market dynamic with potential for upward movement.
Doctor Profit forecasts Bitcoin targets between $108,000 and $110,000, emphasizing that the current trend is not nearing its conclusion.
