Bitcoin continues to climb new heights, with the leading cryptocurrency hitting an all-time high of $111,544. This move comes as technical indicators, including a rare “golden cross” pattern, suggest the potential for a major price breakout. Many analysts are now revising their Bitcoin price prediction, with some setting sights on a target as high as $150,000.

This latest price milestone represents a 48% increase from Bitcoin’s recent low of $75,000 in early April, reinforcing strong market momentum. The broader crypto market has also picked up pace, mirroring Bitcoin’s bullish trend.

Record-Breaking Metrics Show Growing Strength

As prices surged, Bitcoin’s total market value reached $2.2 trillion. Meanwhile, the realized cap—a measure of coins priced at the last time they moved—hit a new peak of $915 billion, showing increased conviction among long-term holders.

Another key sign of renewed interest is the rise in trading volume. According to CoinGecko, daily trading volume spiked to $73.7 billion, compared to $50 billion just the day before and only $30 million earlier this month. This sharp jump in activity reflects renewed interest from both retail and institutional investors.

Open interest in Bitcoin futures also broke records, rising to $81.35 billion. That’s nearly double what was seen in March, indicating growing interest from leveraged and professional traders.

What’s Driving the Rally?

The price rebound follows a difficult stretch earlier this year when Bitcoin fell over 30% from January highs due to geopolitical uncertainty and fears over new U.S. tariffs.

One of the biggest drivers behind Bitcoin’s rally is the sustained demand from U.S.-listed Bitcoin spot ETFs. These investment funds have attracted more than $7.4 billion in new money over the past five weeks. On May 22 alone, they brought in $609 million. This surge in institutional buying is considered a major reason for the ongoing rally.

Public companies are also contributing by adding Bitcoin to their balance sheets. One example is Strategy, a firm that now owns more than 2.7% of all Bitcoin in circulation, emphasizing the growing appeal of Bitcoin as a treasury asset.

Technical Signals Suggest Even More Upside

On the technical side, Bitcoin has formed a golden cross—when the 50-day moving average rises above the 200-day moving average. This pattern is often seen as a strong bullish signal. In past cycles, Bitcoin gained over 37% in the three months following a golden cross.

The cryptocurrency has also broken out of a “bull flag” pattern on the weekly chart, which typically indicates that a continuation of the rally is likely. Based on historical data, this breakout could pave the way for a price move toward $150,000 or even higher. One projection pegs the next significant resistance at around $153,600.

Veteran trader Peter Brandt acknowledged the bullish outlook, suggesting a possible market peak in the range of $125,000 to $150,000 by late summer 2025. He did caution, however, that a major correction of up to 50% could follow.

Another analyst, Gert van Lagen, is even more optimistic. He predicts Bitcoin could rise to $300,000 or more before the current bull market ends, pointing to a breakout from a four-year “megaphone pattern” as evidence.

Is a Pullback Coming?

While many investors are excited about Bitcoin’s recent rally and optimistic Bitcoin price prediction, some caution is still warranted. Indicators like the Relative Strength Index (RSI) and the Stochastic Oscillator show that Bitcoin is currently overbought. This suggests that a short-term correction may be on the horizon before prices continue their upward trajectory.

If Bitcoin experiences a brief pullback, it may drop to the $93,500 range, which is supported by key moving averages. Such a dip could provide a healthier foundation for a longer-term rally.

Looking Ahead: $150K and Beyond?

The broader sentiment in the market remains positive. Strong ETF inflows, increasing adoption among institutions, and supportive technical patterns are all contributing to the bullish case for Bitcoin.

Still, as with any asset—especially one as volatile as Bitcoin—investors should be prepared for potential swings along the way. A move to $150K looks increasingly likely, but the journey may include a few bumps in the road.