Bitcoin Soars Past $110,000 as Analysts Forecast a Potential Peak of $240,000

Bitcoin (BTC) has surged back above the significant $110,000 mark, bolstering optimism about its ongoing market cycle. Analysts suggest the cryptocurrency is still far from its cyclical peak, with projections eyeing heights as lofty as $240,000.

A Gradual Bull Run: Building Momentum Before the Peak

According to James Check, co-founder of blockchain analytics firm Checkonchain, Bitcoin’s current bullish trajectory is unfolding more gradually compared to previous cycles. Speaking on October 29, he remarked, “Bitcoin's present high of $124,000 is only 1.8 times the 2021 peak value of $69,000. Historical trends indicate that this cycle’s peak could reach $240,000 or more.”

Historical precedent has shown that major Bitcoin cycles often end with a euphoric surge—or a parabolic blow-off top. Past cycles in 2013, 2017, and 2021 saw annual returns exceeding 5x before cooling off. This time, however, Bitcoin’s climb appears more steady and measured. Over the past year, the cryptocurrency experienced two healthy corrections: one at 32% in August 2024 and another 32% pullback in April 2025. Despite these dips, the digital asset has resumed its upward momentum, suggesting a sustainable growth trajectory.

The Gold Benchmark: Bitcoin’s Critical Target for Validation

While Bitcoin’s market capitalization has surpassed an impressive $3 trillion, experts emphasize its potential remains vast given its relatively small footprint in the global financial ecosystem. Currently, Bitcoin accounts for merely one-tenth of the total value of the precious metals market, and less than 0.2% of global asset holdings. This comparison underscores the asset’s potential as an emerging global store of value.

A key milestone Bitcoin must achieve to validate its ongoing rally is breaking gold’s all-time high equivalent of $151,000. As noted in Checkonchain’s recent report, “For Bitcoin to officially enter a full-fledged bull market, it must cross gold’s historical valuation.” Analysts predict this goal is attainable within the next six months. The report also highlighted that, in every prior market cycle, Bitcoin has outpaced gold by at least 2x, signaling that prices north of $300,000 may be plausible if historical trends hold.

Key Technical Levels Signal Upward Momentum

From a technical perspective, the bullish outlook for Bitcoin is reinforced by a series of reliable indicators and support zones. The weekly chart reveals a well-defined uptrend, characterized by consistent higher highs and higher lows. Bitcoin continues to build on its momentum while holding strong above its 20-week moving average.

During recent market corrections, Bitcoin established robust support at $95,000, enabling a bounce back to stabilize near $113,880. Analysts expect this support level, coupled with the current $100,000–$105,000 price range, to serve as a foundation for further gains. Chart patterns suggest Bitcoin’s next key resistance lies at $157,000, creating a clear milestone as the market inches closer to its cyclical peak.

The Road Ahead: Indicators Align for Sustained Growth

On-chain metrics, technical analysis, and comparative market value studies all point to a bullish continuation for Bitcoin. As the asset progresses through this current market cycle, traders and investors will be closely monitoring pivotal levels, such as $151,000—the equivalence of gold’s historical high—and the $157,000 technical target. These thresholds will serve as critical markers in assessing Bitcoin's journey toward its projected peak of $240,000.

With a convergence of favorable indicators, Bitcoin appears well-positioned for further appreciation. Its relatively measured growth pace compared to previous market cycles, coupled with strong on-chain data and technical resilience, hints at a maturing asset capable of reaching new all-time highs.