On June 16, the price of the leading cryptocurrency surpassed $107,000, despite global market turbulence due to the Iran-Israel conflict. Since June 13, the price had fluctuated between $104,000 and $105,000.
At the time of writing, the asset is trading at $107,114, according to CoinGecko. The price has increased by 1.6% over the past day and by 1.4% over the past week.
The Fear and Greed Index stands at 61.
Prominent traders have predicted that the price of digital gold will reach new all-time highs. They believe the current consolidation is a preparation for a new phase of the price rally, rather than the end of the bull market.
Trader Alan Tardigrade pointed to the formation of an “ascending broadening wedge” pattern on the weekly chart.
#Bitcoin is trending upward in an Ascending Broadening Wedge ?
This pattern has recently formed for weeks and is expected to reach $170k levels ?$BTC pic.twitter.com/Q6Euhy7wmf— Trader Tardigrade (@TATrader_Alan) June 15, 2025
According to his forecast, this model could push the asset’s price to $170,000.
The analyst also noted a “golden cross” on the daily chart — the crossing of the 50-day moving average with the 200-day moving average.
#Bitcoin 50 SMA and 200 SMA formed a Golden Cross ?
This signal has boosted $BTC by 49%, 125%, and 68% since 2023 whenever it has occurred.
If $BTC experiences its worst and best gains from this point, it could reach $152k and $229k.
These targets are reasonable given the recent… pic.twitter.com/PGEinfxpHE— Trader Tardigrade (@TATrader_Alan) June 14, 2025
“Since 2023, this signal has led to Bitcoin rising by 49%, 125%, and 68%. Based on these figures, the price could reach $152,000 or $229,000,” he commented.
A specialist known as Merlijn highlighted the classic “inverted head and shoulders” pattern.
INVERTED HEAD & SHOULDERS ON $BTC
Left shoulder ✅
Head ✅
Right shoulder loading…Breakout target? $140K+
Neckline at $113K is the only thing standing in the way.Patience now is profits later. pic.twitter.com/w67wcKF8dY
— Merlijn The Trader (@MerlijnTrader) June 15, 2025
“Breakout target? $140,000+. The only thing standing in the way is the neckline at $113,000,” he stated.
Earlier, on June 9, the price of the leading cryptocurrency exceeded $107,000 amid capital outflows from spot ETFs and news of unrest in the United States.
On June 13, Bitcoin’s rate dropped to $103,639 following reports of Israeli airstrikes on Iran.