Executive Summary
- Bitcoin surged 4% above $116,000 following dovish remarks from US Federal Reserve Chairman Jerome Powell, recovering recent losses.
- Analyst Tony Severino projects Bitcoin could reach $183,000, with an immediate target of $144,000, provided it maintains its position within a long-standing ascending channel.
- Crypto analyst Jordan Pivato forecasts the current Bitcoin market cycle will peak on October 21, 2025, based on historical cycle extensions and Bitcoin’s strong seasonal performance in October.
The Story So Far
- Bitcoin’s recent price recovery above $116,000 was primarily driven by dovish remarks from US Federal Reserve Chairman Jerome Powell, with analysts also noting its consistent bounces from a long-standing ascending channel’s lower boundary, which has served as a crucial support zone since November 2023, and looking towards historical market cycle data that projects a peak in late October 2025, a month historically strong for the cryptocurrency.
Why This Matters
- Bitcoin’s recent price bounce, triggered by dovish remarks from the US Federal Reserve, highlights the cryptocurrency’s continued sensitivity to macroeconomic policy and central bank sentiment, which remain key drivers for market movements. This recovery has reignited bullish analyst projections, with some foreseeing a potential climb to $183,000 based on technical patterns, while long-term forecasts anticipate the current market cycle could peak in late October 2025, suggesting a prolonged period of growth for investors.
Who Thinks What?
- Analyst Tony “The Bull” Severino suggests Bitcoin could reach $183,000, with an immediate technical target of $144,000, based on its resilience within a long-standing ascending channel.
- Crypto analyst Jordan Pivato projects that the current Bitcoin market cycle will peak on October 21, 2025, factoring in historical cycle extensions and Bitcoin’s strong seasonal performance in October.
Bitcoin saw a significant 4% price bounce on Friday, pushing its value above $116,000 and recovering recent losses, following dovish remarks from US Federal Reserve Chairman Jerome Powell. This rebound has led prominent market analyst Tony “The Bull” Severino to suggest a potential path for the premier cryptocurrency to reach $183,000, while another analyst, Jordan Pivato, projects the current market cycle to peak in late October 2025.
Bitcoin’s Resilience and Price Targets
In an X post on August 22, analyst Tony “The Bull” Severino highlighted Bitcoin’s resilience, noting its bounce from the lower boundary of a long-standing ascending channel, which he refers to as the “Wall of Worry.” This lower boundary has served as a crucial support zone for BTC since November 2023, consistently leading to price rallies towards the channel’s upper limits.
Severino’s channel analysis indicates an immediate technical target at the median line, around $144,000, which would represent an approximate 24% increase from current levels. Should the bullish momentum continue, the next significant resistance is projected near the upper boundary of the channel at $183,000.
However, Severino cautioned that a decisive break below this ascending channel would invalidate the bullish structure. Such a move could potentially trigger a broader retracement for Bitcoin, pushing its price back towards the $95,000 to $100,000 range.
Current Market Snapshot and Cycle Projections
As of writing, Bitcoin is trading at approximately $115,641, reflecting a 3.21% gain over the last 24 hours, accompanied by a substantial 38.78% increase in daily trading volume to $80.33 billion. Despite these recent gains, the cryptocurrency has recorded losses of 1.76% on the weekly chart and 1.94% on the monthly chart, indicating that recent market entrants may not yet be in profit.
Meanwhile, crypto analyst Jordan Pivato has offered a long-term projection, predicting the current Bitcoin market cycle to reach its peak on October 21, 2025. This forecast is based on historical data, which suggests that each successive Bitcoin cycle tends to extend slightly longer than its predecessor.
Pivato estimates the current cycle will span 550 days, a slight increase from the previous cycle’s 548 days, aligning the peak with late October. He further supports his prediction by pointing to Bitcoin’s historically strong seasonal performance in October, often its most bullish month with an average 46.72% monthly gain.
Bitcoin’s recent price recovery, bolstered by dovish Fed comments, has reignited bullish sentiment among analysts, with some foreseeing a potential climb to $183,000 based on technical patterns. While the immediate outlook appears positive, market participants are also considering longer-term cycle projections and historical seasonal trends, particularly Bitcoin’s strong performance in October, as they navigate the volatile cryptocurrency landscape.
