Although Bitcoin has been in a holding pattern for longer than many had hoped, industry commentator Mike Alfred believes BTC may be on the cusp of a major price breakout.
Today, Bitcoin posted a 0.5% decline, trading at $104,800, with a weekly performance showing a 2.5% dip. However, in a recent post on X, Alfred revealed that his proprietary indicators are aligned and pointing toward a significant upward move.
Specifically, he is targeting a Bitcoin price between $121,000 and $166,000 as early as July 18. The disclosure was humorous, with Alfred jokingly urging community members to “keep this between us.”
As a result, the post garnered significant engagement from the crypto community.
Tom Lee Agrees
Even Fundstrat’s Chief Investment Officer, Tom Lee, responded with a cryptic but supportive message. Lee, known for his long-standing bullish stance on Bitcoin, indicated agreement with Alfred’s forecast. He has consistently maintained a price outlook of $250,000 for Bitcoin this season, teasing potential values as high as $3 million in the longer term.
Shhhhh🤫
👇 https://t.co/Ey9JHns5RD pic.twitter.com/7UY68zvbWq— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) June 5, 2025
$102K is Bitcoin “Floor”
Earlier, Alfred also shared that a contact at trading giant Jane Street indicated $102,000 as “the approved floor” for Bitcoin. This perspective suggests bulls may not permit prices to fall below that level.
Indeed, since Bitcoin peaked at nearly $112,000 in May, subsequent retracements have not breached the $102,000 mark. According to Alfred, discussions are ongoing within Jane Street about allowing Bitcoin’s next leg up to extend as high as $121,000 or even $146,000.
Overall, Alfred’s July 18 timeline spotlights the next six weeks as transformative for the market. Meanwhile, short-term volatility remains, and the risk of the forecast not materializing exists.
However, Alfred has said that in a few years, when Bitcoin hits $20 million per coin, it won’t matter whether one bought BTC at $102,000 or $106,000. According to him, investors should focus on owning one whole Bitcoin.
When 1 Bitcoin is $20,000,000 per coin, you won’t care whether you paid $106,666.69 or $109,420.66. Just make sure you get to 1 Bitcoin.
— Mike Alfred (@mikealfred) May 25, 2025
Could Bitcoin Repeat 2017’s Parabolic Run?
In a separate commentary, researcher Joe Burnett argued that today’s Bitcoin market mirrors the dramatic 2017 bull run, when BTC jumped over 5,600%.
Back then, altcoin speculation funneled capital into Bitcoin, positioning it as a gateway asset. Now, companies like Strategy and MetaPlanet are raising funds through equity sales to buy BTC, creating similar buying pressure.
Meanwhile, inflows into spot Bitcoin ETFs and growing institutional demand are reinforcing this upward trend.
If these forces persist, Burnett suggests Bitcoin could be on the cusp of a similar 2017 price run. With BTC now at $104,000, some analysts see $500,000 as a potential peak due to these favorable factors.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
