Bitcoin’s $126K Target Fuels June 2024 Hype, But Can It Deliver?

March 17, 2025 by Kashif Saleem

• Bitcoin eyes the $126,000 target in June if the historical trends favor the next Bitcoin bull run.
• Analysts predict Bitcoin’s strong comeback as all of the yearly gains occur in April and October increasing the possibility of a June high. 
• Some analysts even predict BTC could reach the $150,000 to $160,000 range by the end of 2025 following past bull cycles.

Bitcoin could jump to $126,000 in June if history repeats itself, according to network economist Timothy Peterson. Peterson analyzed past patterns and found out that BTC exhibits seasonal behavior in its movement. His model suggests that Bitcoin has a strong likelihood of touching all-time highs in the next two and a half months.

Now at the low point of its all-time seasonal range, BTC appears poised for a strong comeback, according to Peterson. Nearly all of the year’s gains occur in the April and October months, reinforcing the possibility of a new all-time high in June.

Nearly all of Bitcoin’s annual performance occurs in 2 months: April and October,” Peterson stated. “It is entirely possible Bitcoin could reach a new all-time high before June.” 

Peterson’s analysis according to previous trends is that BTC is repeating its previous cycles, namely the massive rallies of previous bull cycles.

Bitcoin’s price has decreased by approximately 30% from its January mid-cycle peak, a decline Peterson considers characteristic of bull market corrections. Despite this decline, he remains positive on the upside potential and his model estimates a median value of $126,000 by June 1.

Source: Timothy Peterson

The Case for a $69K Floor and Future All-Time Highs

One of Peterson’s most significant Bitcoin price indicators, the Lowest Price Forward model, has been correct in predicting support levels in the longer term. In 2020, it had forecast Bitcoin would never again fall below $10,000 by September, and so it transpired. This year the model suggests a similar level at $69,000 as having a 95% probability of being a new support level.

The model verifies that Bitcoin’s recent decline is only a temporary setback and not a failure in the market. Peterson also mentioned that the average period of its below-trend stay is around four months and the present weakness may be ending. His model’s dotted red trendline places BTC at $126,000 on June 1st, parallel with its previous movement patterns.

A broader market cycle of Bitcoin also points to an extremely bullish argument. Bitcoin may be on its way to a huge breakthrough and could cross the $150,000 level in the latter part of this year if it follows the trend of previous bull cycles.

Bitcoin’s 2024-2025 Cycle Mirrors 2020’s Explosive Rally

Some analysts like Trader Tardigrade predict the current movement in BTC looks almost identical to its 2020 cycle. In 2020, it consolidated and then broke out in the latter half of 2020 in a move that took it from approximately $10,000 to over $60,000 in a matter of months. If history repeats itself, Bitcoin might have another parabolic run higher above $150,000 and could potentially reach $160,000 by the end of 2025.

The analogy between the two cycles confirms the argument for an extended bull run. In January 2024, there was a rally similar to the rally in April 2020, opening the doors for an extended upswing. If it follows the trend, it could be on the cusp of a second major rally similar to its previous doubling effect after consolidation.

As market sentiment repeats itself in the past, BTC’s near-term volatility might be only a stepping point toward all-time highs. With the present market structure in place, it could easily test its $100,000 resistance and push into uncharted territory in the near term. If history repeats itself, the next few months might be historic for investors in Bitcoin.

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