Bitcoin (BTC) Traders Expect September Breakout, See $100K in 2025

Bitcoin is still on track for a September breakout,” pseudonymous crypto trader Rekt Capital told their 483,800 X followers on July 30.

Bitcoin traders are expecting an upward movement for BTC’s price in September, but they have held back on whether it will hit the long-awaited six-figure mark by the end of 2024.

“Bitcoin is still on track for a September breakout,” pseudonymous crypto trader Rekt Capital told their 483,800 X followers on July 30.

“The Bitcoin halving occurred 100 days ago today. As you can see from the chart below, BTC failed to break out of the reaccumulation range following the halving. This was always going to be unlikely.”

BTC 100 days after the April halving. Source: Rekt Capital/X

100 days after the April BTC halving, on July 29, Bitcoin was trading only 2.11% higher at $66,343, according to CoinMarketCap data. It’s now slightly below that at $66,283 at the time of publication.

“$100K Bitcoin in 2025 more likely”

Several traders believe that Bitcoin will more likely breach the $100,000 mark in 2025 rather than in 2024, as some have predicted.

“The higher timeframe Bitcoin chart does look great to me,” pseudonymous crypto trader Daan Crypto Trades told Cointelegraph.

He echoed a similar view to Crypto research firm Reflexivity Research founder Will Clemente, who commented that the “Bitcoin quarterly chart is looking insane” in a July 30 X post.

“I think six figures this year might be a bit early, but I am pretty confident that we’ll see it somewhere in 2025,” Daan Crypto Trades added, citing positive macroeconomics.

“In the short term, I am eyeing the $70,000 to $74,000 range, which has seen a lot of rejections over the past couple of months.”

“I suspect we will see rapid expansion higher once BTC can break above that price range,” he added.

Quantum Economics founder Mati Greenspan explained to Cointelegraph that the chart shows a clear range between $55,000 and $73,000, which has “been playing out since March.”

“At the moment, it is testing the upper bounds of that range,” Greenspan said.

A breakout from the mentioned range would likely see BTC’s price rally toward the next resistance level at $83,000, which coincides with the 1.27 Fib extension.

Bitcoin price 4-hour chart. Source: Mati Greenspan/Cointelegraph

The resistance level at $73,000 has also been highlighted by several crypto traders, including Daan Crypto Trades, who noted that BTC has faced “heavy rejection” at the price point.

“The breakout from the $55,000 to $73,000 range will be crucial for Bitcoin,” Daan Crypto Trades told Cointelegraph.

“If BTC can break above that range and begin trading in the six figures, then I believe we will see a rapid expansion higher.”

Donald Trump’s recent Bitcoin push will only help BTC’s price break out of extended consolidation, according to Greenspan.

“It seems that my prediction at the start of the year that this cycle would be driven by nation-state FOMO is now coming to pass,” Greenspan said.

The former U.S. president recently urged Americans to “buy Bitcoin now because it’s going to the Moon” during an appearance at the Turning Point Action conference in Phoenix.

“I like the Bitcoin. I like the currency. I think it’s a great thing,” Trump added.

The comments follow a recent X post by Blockware analyst Dan Held, who highlighted the seven degrees of separation between Trump and Bitcoin. Held noted that Trump’s son, Donald Trump Jr., is “openly pro-Bitcoin,” which puts the former president “two degrees of separation away from Bitcoin.”

Trump’s recent comments on Bitcoin have sparked a wave of enthusiasm within the crypto community, with many traders expecting the bullish remarks to help drive BTC’s price to new all-time highs.

“Trump’s comments will only help Bitcoin’s price break out of this extended consolidation,” Greenspan told Cointelegraph.

“The breakout from the $55,000 to $73,000 range will be crucial for Bitcoin. If BTC can break above that range and begin trading in the six figures, then I believe we will see a rapid expansion higher.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.