Bitcoin has been in a holding pattern for longer than many people expected, but industry commentator Mike Alfred believes BTC might be in the cusp of key price breakouts.
Today, Bitcoin recorded a 0.5% decline, trading at $104,800, showing a weekly performance of 2.5% DIP. However, recently post In X, Alfred revealed that he has his own metrics in place, pointing to important upward movements.
Specifically, he is targeting Bitcoin prices of as early as July 18th, between $121,000 and $166,000. This disclosure was humorous.
As a result, the post has gained significant involvement from the crypto community.
Tom Lee agrees
Even Tom Lee, chief investment officer at FundStrat, responded with an inexplicable but supportive message. Lee, known for his longtime bullish attitude towards Bitcoin, has agreed to Alfred’s predictions. He has It is maintained consistently This season, Bitcoin’s price outlook is $250,000, bullying its long-term potential value of as much as $3 million.
shhhhh🤫
https://t.co/ey9jhns5rd pic.twitter.com/7uy68zvbwq– Thomas (Tom) Lee (not a drummer) fsinsight.com (@fundstrat) June 5, 2025
$102K is Bitcoin “Floor”
Previously, Alfred shared that the contacts of trading giant Jane Street showed $102,000 as a “approved floor” for Bitcoin. This perspective suggests that the Bulls may not allow prices to fall below that level.
In fact, Bitcoin peaked at around $112,000 in May, so subsequent retracements have not violated $102,000. According to Alfred, there is an ongoing discussion within Jane Street about allowing Bitcoin’s next leg to be extended to $121,000 and even $146,000.
Overall, Alfred’s July 18th timeline has undergone a market transformation over the next six weeks. Meanwhile, short-term volatility remains, with risks that forecasts are not materialized.
However, Alfred says it doesn’t matter if they bought BTC for $102,000 or $106,000 a few years later, when Bitcoin reached $20 million per coin. He says investors need to focus on owning all Bitcoin.
If a bitcoin is $20,000,000 per coin, I don’t care if I paid $106,666.69 or $109,420.66. Get to 1 Bitcoin.
– Mike Alfred (@mikealfred) May 25, 2025
Can Bitcoin repeat the parabolic 2017 run?
In another commentary, researcher Joe Burnett Discussed Today’s Bitcoin market reflects the dramatic 2017 Bull Run, with BTC exceeding 5,600%.
At the time, Altcoin speculation poured capital into Bitcoin and placed it as a gateway asset. Currently, companies such as Strategy and Metaplanet are raising funds through stock sales to buy BTC, creating similar purchase pressure.
Meanwhile, the inflow of spot Bitcoin ETFs and the growing institutional demand have strengthened this upward trend.
If these forces last, Burnett suggests that Bitcoin could be in a similar 2017 price range cusp. With BTC currently at $104,000, some analysts consider $500,000 a potential peak due to these favorable factors.
