Bitcoin Price May Surge 62% Following Recent Market Indicators

The Bitcoin market experienced a significant price drop of approximately 5%, falling from $106,000 to below $101,000 due to political tensions involving US President Donald Trump and Elon Musk. Despite this volatility, key technical indicators suggest a potentially bullish trend.

Potential Price Surge

A market expert, CrypFlow, predicts Bitcoin could reach $130,000 amidst ongoing corrections.
Bitcoin has been correcting since its all-time high of $111,970 on May 22.
The golden cross occurred in early June 2025 as the 50-day simple moving average crossed above the 200-day simple moving average, signaling potential upward momentum.
Bitcoin broke out above a long-standing downward trendline, reflecting past price movements.
Previous patterns show that short-term corrections can precede significant rallies; a similar pattern was noted in November 2024.
CrypFlow estimates a possible 62% increase, with an initial price target set at $130,000, representing a 25% gain from current levels.

Current Market Status

As of now, Bitcoin is trading at $104,850, up by 2.57% in the past day, although daily trading volume has decreased by 19.59%. The general sentiment remains bullish despite a Fear & Greed Index reading of 45, indicating Fear. Coincodex projects prices of $134,074 in five days and $155,864 in three months.