Jakarta, Pintu News – The price of Bitcoin (BTC) is currently stable at around US$108,000 or around Rp1.77 billion, but crypto analysts are starting to speculate how far the largest cryptocurrency could go in the next market cycle.
One of them is Hadley Stern of Marinade Finance, who recently shared his views in the Milkroad podcast.
According to him, the market is too stuck at the US$100,000 psychological mark and it is time for BTC to move past that limit permanently. Stern estimates that Bitcoin’s highest price this cycle could reach US$160,000 or around Rp2.6 billion.
Hadley Stern thinks that the US$160,000 target is a reasonable estimate, compared to other extreme projections of US$250,000 to US$1 million.
According to him, the crypto market often gets stuck in psychological figures such as US$100,000, similar to the stagnant phase when BTC lingered at US$10,000 a few years ago.
This happens because many traders set an emotional threshold when making buy or sell decisions. Breaking this mark is therefore crucial to unlock the potential for a new rally.
Stern also mentioned that as institutional participation increases-through Bitcoin ETFs and large purchases by companies like MicroStrategy-the demand for Bitcoin will continue to grow.
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Currently, about 6% of Bitcoin’s total supply is owned by ETFs, indicating that large investors are increasingly active in securing this digital asset as a long-term store of value. According to him, this factor will strengthen the buying pressure and support the price to break through the next resistance levels.
On the technical side, Bitcoin price is still on an upward trend with a fairly stable movement pattern. Currently, BTC is holding above US$107,900 (Rp1.76 billion), which has been an important support point in the last few trading sessions.
If the price is able to push a little higher, then it is likely that Bitcoin will test the next resistance level in the range of US$130,000 or Rp2.13 billion. This is a strong signal that the market is preparing for the next big move.
However, a correction is still possible. If selling pressure increases, Bitcoin price could drop to the support zone between US$100,000-US$104,000 (Rp1.64 billion-Rp1.70 billion). According to technical analysts, as long as BTC is able to stay above this zone during a downturn, the opportunity for a new rally will remain wide open.
Also read: 3 Cryptos to Focus on at the End of June 2025
A deeper drop to the US$91,000-US$95,000 (Rp1.49 billion-Rp1.56 billion) range is possible if BTC fails to maintain its current position, but is not the main scenario for now.
One important factor in the current Bitcoin price rally is the influx of institutional funds through financial instruments such as ETFs. Stern highlights that institutions are increasingly playing a role in driving liquidity and creating price stability.
In addition, public confidence in Bitcoin as a hedge against inflation is also strengthening. This creates a conducive environment for BTC price growth in the medium to long term.
According to Stern, cryptocurrency market movements will continue to be influenced by global macroeconomic dynamics and the monetary policies of major countries.
As long as institutional demand remains high and Bitcoin’s supply remains limited at 21 million coins, the price pressure will remain upward. The US$160,000 (€2.62 billion) target is not just a dream, but an achievable possibility if this trend continues.
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