Bitcoin Price Prediction Turns Bullish: Analysts Target $130,000 by June as Volume, Open Interest, and Bullish Sentiment Rise
Bitcoin (BTC) is showing strong bullish momentum, with leading analysts forecasting a potential rise to $130,000 by June. PlanB, creator of the Stock-to-Flow model, highlights the importance of Bitcoin’s Relative Strength Index (RSI) reaching 75 to trigger the next major rally. Recent data shows Bitcoin’s open interest has surged nearly 5% to $75.96 billion, with funding rates turning positive and short liquidations vastly outpacing long liquidations, signaling robust buyer demand. Trading volumes and stablecoin inflow, notably $1 billion in new USDT, also underscore heightened market activity. Analyst Michael van de Poppe notes that holding above key support levels could further accelerate bullish momentum, especially as Bitcoin trades near $108,000. Overall, market sentiment remains strongly positive, with longs dominating and open interest climbing over 80% to $82.8 billion. However, analysts advise watching for volatility if long liquidations increase. Historically, similar spikes in open interest and optimistic technicals have preceded rapid Bitcoin price rallies, suggesting a comparable scenario could play out if current conditions persist, offering attractive trading opportunities for crypto traders.
Bullish
Both summaries highlight rapidly increasing bullish sentiment for Bitcoin, with key technical levels such as RSI and open interest signaling strong upward momentum. Analyst forecasts, increased volume, inflows of new stablecoins, and overwhelming dominance of long positions point to a favorable environment for a BTC rally. The surge in open interest and predominance of short liquidations over longs echo historic pre-rally scenarios. While analysts caution about potential volatility if long liquidations spike, the prevailing momentum, technical indicators, and positive market sentiment suggest an overall bullish outlook for Bitcoin in both the short and medium term.