Crypto Analyst Predicts Bitcoin Could Hit $159,000 This Cycle – Here’s How | Bitcoinist.com
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In the first quarter of 2025, Bitcoin struggled to maintain its momentum from 2024, impacted by macroeconomic uncertainties in the U.S. Even though early April showed continued challenges for the crypto market, prices are attempting to recover towards cycle highs, buoyed by an improving market environment.
Recent price action indicates that Bitcoin has surged over 25% this quarter, outperforming most large-cap assets during the same timeframe. Notably, this leading cryptocurrency appears poised for further growth, with its all-time high price becoming the next immediate objective.
Key Levels to Monitor in Q2
In a May 17 update on the X platform, on-chain analyst Burak Kesmeci assessed Bitcoin’s potential price movements for the coming weeks of Q2. His latest analysis identifies three levels that could be crucial for BTC’s price direction.
The key indicator is the Golden Multiplier Ratio, which helps track cyclical price movements and pinpoint essential price levels. This technical analysis tool applies Fibonacci-based multipliers to the 350-day moving average (350DMA) to identify potential market tops and bottoms.
Kesmeci pointed out that the $127,000 and $159,000 levels are significant resistance areas to observe in this bull market. Specifically, the $127,000 mark aligns with the 1.6x multiplier of the 350DMA, which has previously acted as a mid-cycle peak in earlier bull runs.
Source: @burak_kesmeci on X
Conversely, the $159,000 level corresponds with the 2x multiplier of the 350DMA, historically indicating cycle peaks in the BTC market. However, for the Bitcoin price to reach this level, it must first surpass the mid-cycle high.
Additionally, Kesmeci highlighted the most vital support level for Bitcoin in the remaining days of Q2. According to the Golden Multiplier Ratio, this support is located at $80,000, near the 350-day moving average, where long-term accumulation typically takes place. A drop below this support could undermine the current bullish outlook for BTC’s value.
Ultimately, Kesmeci mentioned that since the Golden Multiplier Ratio relies on moving averages, the highlighted levels may fluctuate as Bitcoin’s price evolves in the coming days.
Current Bitcoin Price Overview
At the time of this writing, BTC’s value is approximately $103,275, with no significant price fluctuations over the past 24 hours.
The BTC price on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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