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Bitcoin is on track to potentially reach new all-time highs in the coming months, according to popular crypto analyst Merlijn The Trader. In a recent technical analysis shared on social media, Merlijn claimed that Bitcoin has entered its third parabolic phase, mimicking the market structure of its past two major rallies in 2017 and 2021. The weekly chart accompanying Merlijn’s post highlighted this trend with three red bowl-shaped curves, each leading into a green “Parabolic Phase” box, representing the final leg of each bull run.
1 Bitcoin per person? Only a few can claim that. pic.twitter.com/eDNuU7xwBd
— Binance (@binance) July 6, 2025
The current price action in 2024 and 2025 appears to be following the same path, with Bitcoin bouncing cleanly off the lower arc during its April crash to $74,000, similar to its behavior in previous cycles before launching into new all-time highs. Merlijn believes this rebound is the strongest indication yet that the final breakout phase is approaching. “Bitcoin bounced off the parabolic curve support, momentum is building, and if history rhymes with the biggest burst of the move, this parabolic phase does not give second chances,” he explained.
The most intriguing part of Merlijn’s forecast is the price target itself.
$MSTR Reports $14 Billion in Total Bitcoin Fair Value Appreciation in Q2 2025 https://t.co/DVxLsZTvEN
— Michael Saylor (@saylor) July 7, 2025
Based on the chart he shared, the green parabolic zone for 2025 extends as high as $335,000, representing more than a 205% rally from current levels. Even the conservative mid-region target of around $150,000 is significantly higher than Bitcoin’s current price.
This prediction is based on the magnitude of previous parabolic runs, which saw Bitcoin increase by over 2,000% in 2017 and more than 1,300% from its 2020 lows to its 2021 peak. If the third phase delivers a similar rally, the path to $335,000 may not be far-fetched.
Bullish phase points to highs
At the time of writing, Bitcoin is trading at $108,850, having reached an intraday high of $109,574. The cryptocurrency is once again flirting with all-time highs, and bullish momentum is steadily building across the broader crypto market. However, another popular crypto analyst, Benjamin Cowen, has suggested that Bitcoin’s current bull market cycle may reach an end if it dips below a key technical indicator.
In a recent YouTube video, Cowen explained to his 904,000 subscribers that a price dip below the 50-week simple moving average (SMA) on the weekly timeframe might signal the conclusion of the bull cycle, based on historical precedents. “So long as the 50-week SMA holds, the structure of the market remains intact. A weekly close below that would call things into question,” Cowen stated.
Currently, the 50-week SMA is positioned between $85,000 and $86,000. As Bitcoin inches closer to its projected peak, investors must reassess their positions. Gradual scaling out, setting price alerts, and retaining some crypto exposure are strategies to consider.
Recent regulatory changes in the U.S., such as the SEC’s engagement and the legalization of crypto, are reshaping Bitcoin’s price dynamics and offering SMEs a clearer path to adopt cryptocurrencies. Understanding the historical halving cycles’ influence and regulatory changes becomes crucial for investors and SMEs as Bitcoin approaches its potential peak between September and November 2025. By adapting to the current landscape, stakeholders can navigate the complexities of the crypto economy and position themselves for potential profit in this ever-evolving market.
