#BitcoinHashRateSurge
Bitcoin traders target $138K BTC price after Coinbase premium hits 'break even'
The return of Bitcoin’s “Coinbase premium” could be a sign that BTC price is on its way to $138,000.
Bitcoin Cash is up 8.5% in 2025 and the cryptocurrency market as a whole is turning bullish ahead of President-elect Donald Trump's inauguration on January 20.
Now that BTC has surpassed $100,000 again, several analysts have presented new all-time high targets for the largest crypto asset in the coming days.
Could Bitcoin Hit $138,000 in February?
On Dec. 8, Bitcoin closed with a daily candle above $100,000 for the first time, but has only been above the six-figure level for six days since then. A daily close above $100,000 will be a decisive turnaround, and Posty, a cryptocurrency trader, said BTC’s current price action reflects its bullish rally since Q1 2021.
After considering the laws of diminishing returns over a four-year period, the trader believed that if BTC continued to follow its previous cycle pattern, Bitcoin would be valued at around $138,000 by February.
Meanwhile, Cryptochimpanz, a Bitcoin proponent, believed that BTC’s monthly chart illustrated an “unpleasant” setup for its previous bull run. The trader said:
“If we follow a similar path, the price of Bitcoin could reach $200,000.”
Additionally, Axel Adler Jr. highlighted that 90% of the total Bitcoin supply is currently in profit. The Bitcoin researcher explained that unless there is a “black swan” in the current cycle, BTC’s declines could be minimal and emulate its 2017 bull run, rather than 2021, when China’s BTC mining ban momentarily halted the rally.
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