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Bitcoin Bulls Revisit $100K Year-End Target as BTC Spikes Over $62K

“Regardless of the next 60 days, the bull market will continue along traditional four-year cycle lines with solid gains in October and November,” one trader said.



* Bitcoin surged over $62,000 briefly before retreating, following a broad market rally that reversed steep losses from earlier in the week.

* Some analysts predicted a $100,000 target for the cryptocurrency later this year.

* The rally was influenced by favorable stock market sentiment and expectations of bitcoin mirroring its past market cycles, with liquidated short positions contributing to the surge.

“If Trump wins, a rush of new buyers could take the bitcoin price over $100,000,” Terpin said, adding that the six months after the halving have had pullbacks — and this fifth bitcoin cycle is no exception. “October and November are historically strong months for bitcoin, especially in the year of the halving and the year after,” he said.

BTC’s rise revived gains among major tokens. Ether (ETH) and toncoin (TON) surged 10%, Solana’s SOL and Cardano’s ADA rose 5%. XRP slightly dropped after a 17% surge on Thursday, likely on profit taking.

The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by capitalization, minus stablecoins, zoomed 5.35%.

Bitcoin Bulls Revisit $100K Year-End Target as BTC Spikes Over $62K

“Regardless of the next 60 days, the bull market will continue along traditional four-year cycle lines with solid gains in October and November,” one trader said.



* Bitcoin surged over $62,000 briefly before retreating, following a broad market rally that reversed steep losses from earlier in the week.

* Some analysts predicted a $100,000 target for the cryptocurrency later this year.

* The rally was influenced by favorable stock market sentiment and expectations of bitcoin mirroring its past market cycles, with liquidated short positions contributing to the surge.

“If Trump wins, a rush of new buyers could take the bitcoin price over $100,000,” Terpin said, adding that the six months after the halving have had pullbacks — and this fifth bitcoin cycle is no exception. “October and November are historically strong months for bitcoin, especially in the year of the halving and the year after,” he said.

BTC’s rise revived gains among major tokens. Ether (ETH) and toncoin (TON) surged 10%, Solana’s SOL and Cardano’s ADA rose 5%. XRP slightly dropped after a 17% surge on Thursday, likely on profit taking.

The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by capitalization, minus stablecoins, zoomed 5.35%.

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