Bitcoin Eyes $120K After Reclaiming Key Level: CryptoQuant
Bitcoin is regaining bullish momentum after reclaiming a key technical level that has historically marked the beginning of short-term price rallies. According to a June 25 analysis by CryptoQuant contributor İbrahim COŞAR, the cryptocurrency has moved back above its 50-day exponential moving average (EMA)—a widely followed indicator used to assess market trend reversals.
Bitcoin is regaining bullish momentum after reclaiming a key technical level that has historically marked the beginning of short-term price rallies. According to a June 25 analysis by CryptoQuant contributor İbrahim COŞAR, the cryptocurrency has moved back above its 50-day exponential moving average (EMA)—a widely followed indicator used to assess market trend reversals.
Building on this, COŞAR noted that in past cycles, when Bitcoin fell below the 50-day EMA during a correction but quickly reclaimed it, the price typically surged between 10% and 20%. That pattern appears to be playing out again, as Bitcoin has now closed above the 50-day EMA for three consecutive days following a brief dip below it. This sustained performance suggests that bullish momentum may be gaining traction.
Bitcoin yeniden 50 günlük EMA’nın üzerine çıkmayı başardı.
50 günlük EMA, şimdilik takip etmemiz gereken, bize BTC fiyatında boğa ve ayı sinyalini verecek en önemli gösterge.
BTC fiyat grafiğinde dikkatimi çeken bir durum var. BTC genellikle her yükselen trendin ardından düşüşe… pic.twitter.com/5iY8IXAq3P
— İbrahim COŞAR (@ibrahimcosar58) June 25, 2025
With this setup, COŞAR believes Bitcoin could be positioned for a short-term move toward $120,000. However, he also warned that geopolitical uncertainties—particularly those involving the United States, Israel, and Iran—may introduce abrupt market volatility, potentially disrupting the bullish trend.
Meanwhile, Bitcoin’s recent price action supports this optimistic outlook. At the time of writing, the cryptocurrency is trading at $106,720, up 1.4% in the past 24 hours. This marks a strong 7.8% recovery from its June 22 low of $98,974, which followed a sharp sell-off driven by escalating tensions in the Middle East.
Despite these geopolitical headwinds, investor sentiment remains notably strong. Spot Bitcoin exchange-traded funds (ETFs) have recorded net inflows for the eleventh straight day. According to data from SoSoValue, weekly inflows have reached $938 million, signalling continued institutional and retail interest in the asset.
Further reinforcing the bullish case, on-chain indicators also point to a potential trend reversal. In an earlier analysis dated April 13, CryptoQuant contributor Joao Wedson highlighted a narrowing gap between Bitcoin’s futures and spot prices on Binance—referred to as the perpetual-spot gap. This contraction often signals a shift in market sentiment and may suggest a transition from consolidation to upward momentum.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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