Bitcoin (BTC) Remains in Focus as It Trades Near $107,000, Sparking Debate on Whether the Next Major Rally Is Approaching

Bitcoin remains in focus as it trades near $107,000, sparking debate on whether the next major rally is approaching. Market participants are closely watching price

Bitcoin price is still in the midst of its bull cycle, and some analysts believe that the next major rally is quickly approaching.

As the crypto behemoth trades at a pivotal point, sparking debate on what’s next, Countertops.com takes a look at the latest technical analysis and market insights.

PlanB’s Power-Law Model Signals 5-10x BTC Rally from Current Levels

Bitcoin continues to follow its long-term powerlaw trend, as per PlanB’s latest analysis. The analyst, known for the stock-to-flow (S2F) model, highlights how this model has historically signaled major bull cycles.

Typically, when RSI (Relative Strength Index) crosses 80, it marks renewed euphoric conditions, commonly referred to by PlanB as the “red dot” phase in his analysis. However, in this cycle, such extreme signals indicating a blow-off top have yet to materialize.

If the S2F Model and PlanB’s Framework Hold …

According to PlanB’s framework, Bitcoin may be primed for a 5–10x increase from current levels, aligning with the S2F target range. This finding is significant and ties into a broader theme in the crypto markets: Many analysts are placing a 3x–10x cycle gain from the cycle low. S2F aligns with this, suggesting a cycle top between $500,000 and $1,000,000 although that remains speculative.

Short-Term BTC Price Action: Key Support Zones to Watch

Noted crypto analyst Michaël van de Poppe is highlighting a short-term pullback in Bitcoin price. After failing to pierce the $110,000 resistance, BTC experienced a setback.

As the chart shows, Bitcoin price is now testing a critical support zone at $107,000. According to the analyst, the level to hold is $106,000.

If this support remains intact, then the uptrend could resume shortly. Otherwise, further weakness may emerge, with liquidity pools lying below $105,500. Conversely, a breakout above $110,545 could trigger a more rapid push to new all-time highs.

With heightened geopolitical tensions between the U.S. and Iran, risk assets like Bitcoin may face headwinds, while havens like gold benefit.

Early Bitcoin Holders Fueling Sell-Side Pressure, Says Bitwise CEO

Adding another layer to the analysis of Bitcoin price, Bitwise CEO Hunter Horsley provides an interesting perspective on the current market dynamics.

In a recent interview, Horsley pointed out that a significant portion of the sell-side pressure is coming from early Bitcoin adopters. These investors, having entered at far lower prices, are now locking in profits around the psychological $100,000 level.

However, Horsley expects this pressure to diminish rapidly as Bitcoin continues its ascent past $130,000.

According to his analysis, once Bitcoin crosses into the $130K–$150K range, we can anticipate a dramatic decrease in selling activity. This could set the stage for a more sustainable rally, potentially paving the way for the next leg higher.