Bitcoin Bulls Refuse to Back Down: $107K Double Top? More Like $116K Next Stop!

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Key points:

  • Bitcoin, far from throwing in the towel, is charging full speed ahead towards the all-time highs, says the Bitcoin Fundamental Index (BFI).

  • BTC price strength remains as unshaken as a bear’s hibernation schedule, says Swissblock Technologies, putting to rest any “double top” drama.

  • History proves that once Bitcoin gets within 10% of its all-time high, price discovery becomes an almost inevitable reality.

Oh, you thought Bitcoin was headed for a “double top” disaster? Please. According to fresh analysis, BTC’s journey past $107,000 is anything but a “reversal” of the bull market.

In a recent update on X (formerly Twitter, of course), private wealth manager Swissblock Technologies confidently proclaimed that BTC’s price strength is “intact,” leaving the whole “double top” argument looking about as relevant as a dial-up modem in 2025.

BTC Price Indicator Shrugs Off the “Double Top” Chatter

Bitcoin’s showing no signs of succumbing to bearish divergence, as confirmed by a slew of network indicators. Sure, the bears are chirping, but they’re just a distant echo now.

According to Swissblock’s Bitcoin Fundamental Index (BFI), despite BTC hovering less than $5,000 from its all-time high, there’s no sign of it retreating into the abyss of despair. Instead, it’s marching confidently toward price discovery, brushing off the chatter about a double top like a fly on a millionaire’s yacht.

“A lot of noise about a potential double top as $BTC struggles to break ATH,” Swissblock summed up, because, honestly, who needs extra drama?

BFI, a fine concoction of various indicators, serves as a thermometer to gauge trend strength at any given price. Since August 2024, it’s been unwaveringly at the neutral mark, like a zen monk in a cryptocurrency storm.

“Even during the Feb–Mar pullback, it held neutral, never dipped into weakness,” the post cheerfully notes, which makes you wonder why anyone would still be worried about “reversals.”

If Bitcoin were to suddenly crash and burn without touching its all-time highs, BFI would start breaking down—so, yeah, that’s not happening anytime soon.

“On-chain strength is intact,” it concludes, with the sort of certainty that would make even the most skeptical bear rethink its position.

“Bears: not this time, got to wait.”

Bitcoin Bulls: The Stats Are on Our Side

Not to sound like a broken record, but the majority of crypto market participants are siding with the bulls this month. CryptoMoon, for instance, is confidently predicting that Bitcoin will blast through price discovery territory once again. One particularly optimistic BTC target for this week? $116,000.

Network economist Timothy Peterson, who is apparently the Nostradamus of crypto, used some statistical wizardry to predict Bitcoin could hit at least $115,000 by the end of June. Why? Because once BTC gets within 10% of its all-time high, it’s like opening a floodgate—price discovery is practically guaranteed.

“What happens next? This has happened nearly 300 times since 2015. Within 50 days, Bitcoin made a new all-time high 98% of the time.”

Peterson admits that post-2020 Bitcoin gains have been more modest than the glory days, with an average 8% increase. But with this in mind, BTC/USD could still shoot for a cool $125,000. So, let’s just say: buckle up.

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2025-05-20 11:07