Bitcoin’s price has been moving sideways in recent sessions, but a big breakout could be coming soon. Currently, the price is consolidating just under a major resistance trendline on the daily chart. This level has held firm for several days, creating tension in the market as traders await the next decisive move.
Interestingly, analyst Ted Pillows pointed out that back in 2020, a huge government spending bill helped send Bitcoin to record highs. Now in 2025, another spending bill is on the way, and this one is even bigger, hoping that history might repeat itself.
In a recent interview, CryptoQuant’s Head of Research, Julio Moreno, shared his outlook for Bitcoin’s price over the next two to three months. According to Moreno, Bitcoin is likely to trade between $87,000 and $99,000 in the short term if current market conditions continue.
Moreno explained that this range is based on on-chain data showing the average price at which traders brought their Bitcoin, known as the realized price. In bull markets, prices often correct toward this level before moving higher again. The upper resistance band, which would act as a potential top for now, sits at $138,000.
Right now, demand for Bitcoin appears to be weakening slightly. Unless buying activity picks up in the coming weeks, Moreno said there’s a stronger chance of seeing a dip toward $99,000 before any major rally. He said that in order to see Bitcoin climb to $138,000, demand would need to strengthen.
Moreno further explained that Bitcoin’s market cycle top could still reach around $190,000 later on, though he expects the current cycle to stretch into 2026. Historically, Bitcoin performs well in the final quarter of the year during bull cycles, so a strong finish to 2025 isn’t off the table.