Bitcoin price has again entered an uptrend, reaching a $94.9k target earlier in the day. The latest surge is due to the U.S. President announcing a Strategic Crypto Reserve, which has sparked investor interest. However, another significant news is the emergence of a historical pattern, which could push it towards the $180k target. As the investors debate BTC’s future price target, let’s discuss what is coming.
Bitcoin Price Rally and the Trump Effect
On Sunday, U.S. President Donald Trump announced the formation of the Strategic Crypto Reserve, proving his commitment to his pre-election promises. Although Congress has yet to confirm this, investor sentiments were booming with optimism, sparking a market rally.
Trump’s statement read:
A U.S. Crypto Reserve will elevate this critical industry… my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA.
With this announcement, the Bitcoin price surged 11%, hitting a day high of $94.9k. Altcoins like Ethereum, Solana, Cardano, etc, surged as they would be adopted into the U.S. Strategic Crypto Reserve.
This move alone could bring BTC price to new highs due to increased institutional adoption, credibility, and regulatory clarity. Interestingly, historical trends also indicate a potential rally.
Elliott Wave Analysis Suggests Bitcoin Price to Target $180K
A crypto analyst, Tony, pointed out several similarities between the BTC’s current price action and its historical cycle. The analysts used the Elliott Wave theory and found similarities between this token’s 2023 price rally and the ongoing 2025 rally before predicting the $180,000 target.
According to the charts, Bitcoin saw expansions in waves 1 and 3, which explains the parabolic rise in both cycles. This rise was followed by a correction to fill the CME gap. Additionally, there was a wave four retest, under which the BTC price retraced to a key support level in both charts. An uptrend formed after filling the significant CME gap.
Based on that, the BTC could hit $180,000 if it followed the 2023 wave 5 surge. Interestingly, the Bitcoin price chart analysis revealed a striking resemblance between those two cycles, reinforcing the theory that Bitcoin history does not repeat but rhymes.
Will This Rally Continue?
Bitcoin has consolidated significantly since its prime and currently trades at $92.6k. Despite this, its trading volume is still high, at $75.06B, after a 240% surge, showing investors’ high interest, which could play a significant role in the continuity of the price rally.
However, a few other factors must be considered, especially as analysts warned about the CME gap at $84,650-$94,000. This could be a magnet for the retracement, so investors must watch this level.
Additionally, the BTC’s current price action reveals that the token is entering a re-accumulation phase. With that, they could break out to a level at $104,500.
Bitcoin History Rhymes, What to Expect?
The current scenario reveals that both technical and fundamental factors are fueling the ongoing BTC price rally. After an 11% surge today, the Elliott wave suggests a potential surge to $180k.
Interestingly, multiple theories and analysts have predicted the same for 2025, so the credibility of this Bitcoin price prediction is high. However, caution is important due to the high volatility and the CME gaps acting as critical price levels. If history repeats itself, the price will reach $180k in the next few months.
The post Bitcoin History Rhymes as Analyst Points Out Similarities with $180K BTC Price Target appeared first on CoinGape.
