Bitcoin Blasts Past Resistance—Traders Brace for Parabolic Top

BTC smashes through overhead sell walls as institutional FOMO reaches fever pitch. The king coin’s 45-day rally defies traditional market indicators—leaving analysts torn between calling a supercycle or warning of a speculative bubble.

Key levels to watch: $150K becomes the new psychological battleground after yesterday’s 12% surge. Exchange reserves hit 3-year lows as whales move coins into cold storage—a classic hodl signal.

Meanwhile, Wall Street’s latecomers scramble to ’diversify’ with 2% crypto allocations. Too little, too late for the suits who mocked Bitcoin at $20K.

The Resurgence of Cryptocurrencies

Following recent data releases, Bitcoin$97,348 is on the rise, with hopes boosted by discussions surrounding tax cuts. Michael Poppe has highlighted several key developments, indicating the continuation of positive sentiment in cryptocurrencies.

“Ultimately, the macro environment is shifting significantly. Gold is dropping, interest rates are falling, pressure on the FED is increasing, Nasdaq is climbing, and CNH/USD is rising. The momentum is in the right direction for cryptocurrencies to succeed.”

The analyst presented at least five reasons why the current upward trend should persist. Nevertheless, the damage caused by the prolonged declines over the past months and the understanding that these declines will not last indefinitely should be taken into account.

Peter’s Cryptocurrencies Forecasts

In April, Peter had anticipated further declines, expecting prices to drop to around $65,000. Given the environment at the time, combined with fears and Fed announcements, this appeared logical. However, markets often defy logic and are filled with surprises.

Peter Brandt, who shared the following chart, now targets higher levels.

“If Bitcoin can reclaim the broken parabolic curve, BTC aims to reach the bull market cycle peak of $125,000 to $150,000 by August/September 2025, followed by a 50%+ correction.”

If such a scenario unfolds, altcoins may also reach new peaks, ushering in a stronger period for the market. Anticipation grows that the Fed might start reducing interest rates in June, especially if hints are dropped in the upcoming meeting on May 7th. This could elevate investor expectations further. We await dovish statements and hope Friday’s employment data will exert additional pressure on the Fed.

Concrete agreements related to tariffs are expected starting next week, as announced by the Treasury Secretary, with the first agreement slated for completion by next week.