Bitcoin Just Might Break Out of Bearish Trap: Here’s the Wild Ride to $104,500

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Hold onto your hats, folks! A crypto analyst, whose followers probably have more numbers than your phone number, is predicting that Bitcoin (BTC) is on the edge of breaking out of its stubborn bearish market structure. This could be the highest price since, well, January—remember that? Good times.

In a new tweet (or thread or whatever the kids are calling it now) on X (formerly Twitter, because, sure), Rekt Capital—a name that sounds suspiciously like it’s about to wreck your portfolio—told his 546,600 followers that if Bitcoin can just stay above a key level, it could soar to $104,500 by mid-June. So, basically, it’s all riding on this one level. No pressure, right?

“Bitcoin is on the cusp of breaking its downtrend dating back to mid-December 2024 (the black diagonal, which is as ominous as it sounds). It just needs to stay above ~$98,700 for a retest of the week, and voilà—next stop: $104,500 (cue dramatic music).”

Rekt Capital, ever the optimist, claims Bitcoin is nearly done with its first price discovery correction period. This sounds complicated, but it basically means the crypto king is tired of being a sad bear and is gearing up for a glorious comeback. So, if you’ve been stacking up BTC during its correction phase, congratulations! You’re officially in an optimal reaccumulation opportunity. Fingers crossed for that price reversal!

“Bitcoin has almost concluded its first price discovery correction period. Sure, it lasted longer than anyone expected, but it was basically a sale at an optimal time to hoard digital gold. Bitcoin is *just* below $100,000 right now, which, let’s face it, still sounds pretty good.”

Rekt Capital also mentioned that, based on historical precedent (because who doesn’t love some good old history lessons?), altcoin season should start in early 2025. Apparently, this all depends on Bitcoin’s dominance faltering at around 71%. Currently, Bitcoin’s dominance level sits at about 65%, so we’re only a few percentage points away from what the analyst calls the “real Altseason” that everyone’s been waiting for. No big deal, just the fate of the entire market resting on a few percentage points.

“If history repeats itself (and who doesn’t love a good déjà vu?), the real Altseason will kick off once Bitcoin Dominance rejects from 71%. And we’re only about 6% away. No pressure, right?”

As of this moment, Bitcoin is trading at $100,792. That’s a 4.2% gain in the last 24 hours—just enough to make you reconsider that morning coffee purchase. Cheers!

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2025-05-08 23:57