Bitcoin Poised for New All-Time High Within 1-2 Weeks, Analysts Predict

Bitcoin's price has surged to $109,236, marking its highest level in nearly a month. This isn't just another routine rally - prominent crypto trader Michael van de Poppe notes strong momentum that could potentially drive Bitcoin beyond its previous all-time high of $111,970 in the coming weeks.

Technical analysis reveals Bitcoin recently broke through the crucial $106,500 resistance level on 4-hour charts, subsequently stabilizing around $109,000. This breakthrough absorbed liquidity from lower levels, squeezing short positions and fueling further upward momentum. Van de Poppe identifies $110,500 as the next key target, with sustained gains potentially establishing new price records.

While bullish, analysts caution about possible minor pullbacks. Key support levels to watch include $105,500 and the psychological $100,000 mark, which could present buying opportunities for traders.

Adding to the optimistic outlook, Standard Chartered Bank has issued an aggressive forecast projecting Bitcoin could reach $135,000 by Q3 2025, with a potential spike to $200,000 by year-end. With Bitcoin currently holding strong above $109,000 and market confidence growing, the next fortnight could prove pivotal for cryptocurrency markets.