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Bitcoin Eyes 66% Surge to New All-Time High, Says Analyst Egrag Crypto
After eight consecutive weeks of gains, Bitcoin (BTC) has seen its bullish momentum briefly cool, posting its first red weekly candle since early April. Despite this temporary pullback, market analyst Egrag Crypto believes a significant price breakout may be on the horizon, forecasting a surge to $175,000 in the coming months.
Market Snapshot
Bitcoin recently pulled back 3% from its weekly open of $109,004, settling at $105,308 at press time. This marks a pause in the asset’s upward trend that began in early April, when BTC rebounded from a local low of $74,508 to reach a new all-time high of $111,980—a 50.3% gain.
Although bears briefly regained control, the bulls have mounted a comeback over the past two days, pushing Bitcoin up by 1.58% through back-to-back daily gains.
Analyst’s Insight: Corrective Phase and Bullish Setup
In a recent analysis shared on X (formerly Twitter), Egrag Crypto outlined Bitcoin’s current positioning within a broader corrective range that began after its December 2023 high of $108,353. Despite a brief rally to $109,588 in January, BTC experienced a downturn that bottomed out in April.
Egrag now anticipates a possible ABC correction pattern, which may temporarily push Bitcoin below the $100,000 mark. However, he suggests that bullish momentum will likely return quickly, fueling a breakout from this “corrective block.”
A significant bullish signal could also come from a pending crossover on the monthly Stochastic RSI—an indicator that historically preceded major BTC rallies in 2013 and 2021.
Bold Predictions: $175K Target by September
According to Egrag’s forecast, Bitcoin could climb to a range of $145,000 to $175,000—up to 66% above its current market price. Notably, he expects the top of this range to be reached by September 2025, driven by strong technical and sentiment-based indicators.
Egrag also urged investors to consider profit-taking strategies ahead of a predicted correction in 2026.
Broader Market Alignment
This outlook is consistent with bullish predictions from other financial figures. Robert Kiyosaki, author of Rich Dad Poor Dad, anticipates Bitcoin will rise to between $175,000 and $350,000 this year, while asset manager VanEck has set its target at $180,000.
As the crypto market continues to evolve, all eyes remain on whether Bitcoin can defy short-term headwinds and charge toward another record-breaking rally.
