Bitcoin Price Targets Set at $96,000 and $144,000 According to Analyst

Bitcoin (BTC) has seen a slight increase following a US airstrike on Iranian nuclear facilities, intended to reduce Middle Eastern tensions. However, BTC remains in a corrective phase, struggling to surpass the $110,000 resistance level due to global uncertainty and technical stagnation.

Market Outlook for Bitcoin

Analyst On-Chain College presents a positive long-term outlook using the Mayer Multiple, which assesses Bitcoin's price relative to its 200-day moving average.
The Mayer Multiple indicates that BTC has historically reached cycle peaks only after hitting the 2.5x band.
Immediate price targets are set at $96,000 (1.0x) and $144,000 (1.5x).
Potential exists for BTC to rise towards $144,000 or return to $96,000 to eliminate weaker holders before a bullish reversal.

Current Bitcoin Price Status

As of now, Bitcoin is priced at $102,700, marking a 1.50% decline over the past day and losses of 2.94% weekly and 8.08% monthly. Analysts at CoinCodex suggest a breakout could occur soon, predicting a price of $136,472 within five days, with longer forecasts of $138,379 in three months and $116,115 in six months.