Bitcoin Surges Past $108K: Analysts Predict New Highs up to $200K

Bitcoin has soared above $108,000 for the first time since January, marking a 14% rally since May 5 and igniting fresh speculation of a powerful bull run ahead. With bullish momentum accelerating, targets ranging from $115,000 to a staggering $200,000 are now circulating among analysts and traders.

According to Cointelegraph Markets Pro and TradingView, Bitcoin reached a high of $108,000 on May 21, up from $104,200 the day before. The last time Bitcoin traded above this level was Jan. 20, during a surge sparked by the inauguration of U.S. President Donald Trump, which pushed BTC to its current all-time high of $109,350.

BTC/USD daily chart. Source: TradingView

The broader crypto market also rallied, pushing total market capitalization to $3.36 trillion, its highest level since February 3.

Bullish Sentiment Builds Amid Market Rally

The latest breakout has rekindled optimism across the market, with analysts eyeing a breakout above Bitcoin’s previous all-time high. Noted crypto analyst AlphaBTC shared that Bitcoin is trading in a bullish ascending parallel channel since its April 9 rebound, and expects BTC to hit $115,000 if it breaks past resistance at $109,000.

BTC/USD 12-hour chart. Source: AlphaBTC

MN Capital founder Michael van de Poppe echoed the sentiment, predicting Bitcoin could climb to $200,000 as global distrust in fiat currency grows: “More people are done with the constant devaluation of the dollar.”

Analyst Mags projected Bitcoin could be in its “biggest bull run ever,” forecasting a possible top around $215,000, consistent with Bitcoin’s historical four-year halving cycle.

Meanwhile, network economist Timothy Peterson offered a more moderate outlook, predicting $115,000 by the end of June, with a cycle peak around $130,000.

Source: Mags

Technical Patterns Point to $140K Target

From a technical analysis standpoint, Bitcoin has formed a rounded bottom pattern on the daily chart — a bullish reversal formation. The neckline of this pattern sits at $106,000, and BTC has already closed above it.

A breakout from this structure projects a technical target of $140,956, representing a 37% upside from current levels. The Relative Strength Index (RSI) stands at 69, indicating that BTC still has room to run before becoming overbought.

Additionally, a golden cross — a bullish signal where the 50-day moving average crosses above the 200-day moving average — is looming, potentially fueling further gains.

BTC/USD daily chart. Source: TradingView

Outlook: Price Discovery Ahead

With Bitcoin now within striking distance of new all-time highs, the market is entering uncharted territory. Whether BTC reaches $115K in the short term or surges toward $200K over the next year, analysts agree: the bullish momentum is just getting started.