Bitcoin is set up for a possible summer breakout. As of early afternoon ET on June 19, 2025, it’s hovering around $108,700. The crypto asset is almost 4% up compared to last week and shows strong support at $106,000. Bitcoin Corpse is making a timely comeback, as Bitcoin stabilizes above key support. If it continues its new volume momentum, it can explode to anywhere from $130,000 to $135,000!
Technical Indicators Point Upward
CBDCs’ Evidence from Bitcoin’s recent price action suggests that current volume-weighted average price (VWAP) and transfer volume trends are similar to those at the beginnings of 2017 and 2021. These were the years of massive appreciation for Bitcoin. Should Bitcoin successfully breach resistance levels near $115,000 in the coming weeks, analysts anticipate a surge in buying activity driven by fear of missing out (FOMO). This has the potential to launch the crypto market forward into a new cycle of development and expansion.
"The on-chain volume profile shows a critical breakout zone. It’s only a matter of time before BTC moves decisively past $110,000." - ELI5 of CryptoQuant
On June 18, ELI5 released a thread explaining our analysis of Bitcoin’s on-chain volume profile. This development marked a key breakout channel which investors need to keep an eye on.
Halving and Macroeconomic Factors
For context, the halving event in April has been a key factor in tightening dynamic market forces. This dramatic cut back in new supply, matched with rising demand, is fueling the likelihood of new price appreciation.
Additionally, macroeconomic uncertainty is pushing investors towards Bitcoin as a hedge against traditional market volatility. With rate cuts on the horizon later this year, Bitcoin’s position as a nascent, non-sovereign store of value benefits all the more. In addition, current global political instability, particularly in the Middle East, continues to add to Bitcoin’s appeal as a safe haven asset.
Market Sentiment and Future Outlook
With all these fundamental and market developments, the skies finally seem to be clearing for Bitcoin. Fundamentals and at least one technical indicator are lining up beautifully. At the same time, supply cut from halving and macroeconomic tailwinds are creating an environment that’s primed for a price explosion.
If BTC continues to stay propped above key support levels, the leading cryptocurrency may be bound for a big price rally. A breakout above this resistance would increase this bullish momentum tremendously! It has investors eagerly watching these developments, with many expecting a bullish summer for Bitcoin.
