Bitcoin Consolidation and Future Outlook

Bitcoin’s price has been moving sideways in recent sessions, indicating that a significant breakout may be impending. Currently, it is consolidating just under a major resistance trendline on the daily chart, which has held firm for several days, creating market tension as traders await the next decisive move.

Interestingly, analyst Ted Pillows noted that back in 2020, a major government spending bill helped propel Bitcoin to record highs. Now, in 2025, another larger spending bill is anticipated, raising hopes for a repeat of past performance.

In a recent interview, CryptoQuant’s Head of Research, Julio Moreno, provided his outlook for Bitcoin over the next two to three months. He estimates that Bitcoin may trade between $87,000 and $99,000 in the short term, depending on current market conditions.

Moreno explained that this range is derived from on-chain data indicating the average price at which traders acquired their Bitcoin, known as the realized price. In bull markets, prices often correct toward this level before eventually moving higher again. The upper resistance band, potentially acting as a temporary ceiling, is at $138,000.

At present, Bitcoin demand seems to be slightly weakening. If buying activity doesn’t increase in the coming weeks, Moreno suggests there might be a dip toward $99,000 before any significant rally occurs. For Bitcoin to approach $138,000, demand needs to strengthen.

Moreno further remarked that Bitcoin’s market cycle top could conceivably reach around $190,000 later on, although he anticipates that the current cycle may extend into 2026. Historically, Bitcoin performs well in the final quarter of the year during bull cycles, making a strong close to 2025 conceivable.