Crypto Traders Predict Bitcoin (BTC) Will Hit $116,000 This Week — Is the Market Ready for a Bull Run?

Jakarta, Pintu News – Bitcoin (BTC) price is again a hot topic among crypto market participants after a number of analysts predicted a potential significant surge in the near future. At the time of writing, the price of BTC is hovering around $103,143.

With volatility starting to ease and technical patterns indicating a breakout, many traders are optimistic that BTC will break the all-time record high (ATH) in the near future. One ambitious target even projects the price to reach $116,000 in just a matter of days.

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Classic Breakout Ready to Happen? BTC Tests Critical Area

Over the weekend, BTC/USD was observed moving steadily around the $103,000 level, which is referred to as a “price magnet” by analysts. Data from Cointelegraph Markets Pro and CoinGlass shows that Bitcoin’s price has hardly experienced any sharp fluctuations, creating ideal market conditions for liquidity capture in the near future.

The $103,000 to $105,000 zone is currently the focus of attention, as it is believed to be the trigger point for the next big move. According to technical analysis, the BTC chart is showing a narrowing triangle pattern with steadily decreasing volume – this pattern often precedes large explosive breakouts.

Read also: Bitcoin Breaks $105,000, Here are 3 Cryptos to Watchlist!

Ambitious Target: BTC Could Hit $116,000?

A popular analyst with the account name Alan on the X platform (formerly Twitter) predicted that Bitcoin’s short-term target will be $116,000. He added that the current chart pattern shows a maturing breakout signal, with great potential to push the price to new levels.

Another trader, Mikybull Crypto, identified an “intraday diamond breakout” pattern on the BTC chart.

Meanwhile, Daan Crypto Trades highlighted the continued “Coinbase spot premium” – this signals high buying demand from US investors, a positive signal for BTC’s near-term prospects.

Watch out for correction before flying higher

Despite the bullish market sentiment, some analysts warn of a potential short-term decline before the price really takes off. A trader by the name of CrypNuevo stated that Bitcoin has not been able to break through a major resistance level, and this could signal a temporary decline before continuing to rise.

Also read: 3 Luxury Lifestyles of Crypto Billionaires, From Supercar Collection to Private Island!

Daan Crypto Trades also mentioned that compared to stock indices, BTC still hasn’t broken the last resistance. This makes some market participants remain cautious, especially with the history of deep retraces that occurred some time ago, when BTC had fallen close to $75,000 in April.

Is Bitcoin About to Hit a New High?

The current bullish scenario does show many positive technical signals, but the cryptocurrency market is known for its highly speculative nature. Some analysts predict that Bitcoin might test the $90,000 level first before heading to the new ATH area.

With prices relatively calm and volumes continuing to thin out, the market appears to be “holding its breath” waiting for the next spike. If a breakout does occur, BTC prices could re-enter the price discovery phase – where prices continue to rise without clear historical resistance.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Cointelegraph. BTC price to $116K next? Bitcoin trader sees ‘early week’ all-time high. Accessed May 19, 2025.
• Featured Image: Generated by AI