Bitcoin’s price experienced a slight dip over the past 24 hours, currently trading around $121,453. This follows a significant drop of 27% in trading volume to $59.41 billion. Trader Peter Brandt predicted Bitcoin could experience a dramatic surge soon, potentially reaching as high as $185,000 per coin. However, he cautioned that this rise might be premature and warned about a potential reversal if Bitcoin fails to break its historical cycle pattern this week. Brandt’s prediction is based on the four-year cycle structure of Bitcoin. If Bitcoin surpasses its peak in the cycle, the subsequent price movement could be explosive, according to his analysis. Other analysts are closely watching the market, predicting potential peaks this month or early October 2025, with some suggesting targets above $250,000 by year-end. Historical data suggests Bitcoin might hit over $200,000 in 2025, according to Brandt. However, recent history indicates that the market can defy expectations as well. Bitcoin’s current rally is fueled by institutional adoption and on-chain metrics like decreased exchange balances, signaling more long-term holders and less immediate selling pressure. Analysts suggest that Bitcoin’s supply squeeze is intensifying, with long-term holders accumulating coins as short-term traders step back. This has resulted in a surge in buying activity and price momentum. The October rally triggered massive liquidations of bearish positions, resulting in increased buying to offset the losses. The ETF inflows are expected to continue supporting Bitcoin’s price. Technical analysis suggests Bitcoin remains in an uptrend with solid support levels at around $118,000 and near $101,000. Trading volumes have spiked, confirming strong investor interest at these critical price points. As the market approaches resistance levels near $126,000 and $135,000, traders are watching for potential selling pressure, while support zones offer a cushion against further declines. If Bitcoin breaks through these key levels and holds steady, the next leg of the rally could target $140,000 before aiming for ambitious price targets of $185,000 if Brandt’s cycle break theory comes to fruition. Overall, the near-term future of Bitcoin will be decided in the coming weeks; it could either set a new long-term high or pause for a healthy correction.