CryptoQuant’s Moreno Predicts Bitcoin Surge to $195,000 with Key Conditions
Julio Moreno, Head of Research at CryptoQuant, discussed Bitcoin's recent futures deleveraging on the Milk Road podcast. Despite a major market reset, the broader bullish trend remains intact.
- Bitcoin's realized price target is near $115,000, indicating potential resistance. If surpassed, prices could reach $150,000–$195,000; downside support is around $100,000.
- The October 10 event was the largest dollar liquidation in Bitcoin and Ethereum perpetuals history, with open interest dropping from $78 billion to $58 billion.
- Spot prices showed resilience, maintaining levels above prior cycles' floors even after a sharp drop to $103,000.
- CryptoQuant’s bull score dropped significantly before the crash, indicating increased risks despite stable spot demand earlier.
- Market positioning was over-leveraged, with profit-taking exceeding $3 billion as Bitcoin neared its previous high.
- Institutional demand remained steady while early miners and "OG" whales distributed coins as prices rose past $100,000.
- Altcoin markets were more vulnerable, showing selective performance rather than broad gains.
For Q4, macroeconomic factors, particularly US-China tariffs, remain crucial. A resolution could lead to a positive quarter, with Bitcoin potentially reaching new highs if $115,000 is reclaimed. However, an extended bull run into 2026 is unlikely due to diminishing momentum indicators.
At present, BTC is trading at $108,187.
