Bitcoin may be on the verge of a powerful move that could define the rest of the year, according to one closely followed trader.
Market analyst Kevin Svenson believes that the current price structure points toward the final stage of an ongoing exponential rally that first took shape in 2023.
In his latest update, Svenson argued that Bitcoin is edging closer to breaking through its last major resistance, hovering around the $110,000 level. If that barrier falls, he predicts a sharp vertical climb in price—a signature move often seen at the end of parabolic cycles.
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He described the next phase as a “vertical push,” a classic hallmark of market euphoria. This is when prices accelerate rapidly, often culminating in what’s known as a blow-off top—a steep surge followed by a significant retracement.
Svenson compared the potential scenario to what unfolded in previous Bitcoin cycles, notably in 2017 and 2021.
While acknowledging that parabolic trends don’t last forever, he said the upside could still extend into the early autumn months. If history is any guide, Bitcoin could see its peak sometime around October before the trend inevitably cools off.
Alexander Stefanov
With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.
