Bitcoin Analysts Say a Short-Term Drop May Come ‘Before the $140K Breakout’

Bitcoin may be on its way to a new all-time high, but not before a potential pullback.

According to analysts, BTC could dip toward the $100,000–$104,000 range before resuming its longer-term uptrend. As of June 9, Bitcoin is trading above $107,000, consolidating in a tight range between $103,800 and $106,900. That range has held for three days, following a week of volatility partly driven by the high-profile Trump–Musk political fallout.

The immediate question now is whether the rally pauses for a reset, or if the market is simply reloading before its next leg higher.

Bitcoin Faces Volatility Risk as CPI Data Looms

A potential catalyst looms midweek as the U.S. Consumer Price Index (CPI) is set to be released on Wednesday, June 11. Analysts expect a 0.3% month-over-month rise and a 2.9% year-over-year increase in core CPI, which excludes food and energy. A hotter-than-expected print could dent expectations of near-term rate cuts and put pressure on Bitcoin, which has shown increasing sensitivity to macroeconomic signals.

Private wealth firm Swissblock posted on June 9 that “inflation data in the week ahead could unleash volatility.” While they noted that bulls are “slowly rebuilding structure and regrouping,” they also believe that a short-term test of the lower range around $104,000 looks likely.

Echoing that sentiment, technical analyst Mickybull Crypto pointed to a head-and-shoulders formation on the daily chart that suggests Bitcoin could pull back to $101,500. The analyst summarized the outlook as a “short-term correction, then new all-time highs.”

Bitcoin Maintains Long-Term Uptrend Despite Pullback Risks

Despite the near-term caution, several analysts maintain a bullish outlook on higher timeframes. Trader Daan Crypto Trades noted that Bitcoin remains well-positioned as it “broke back above its bull market support band,” adding that “the high time frame trend still remains very clean.” That support band currently sits around $95,000, and the trader emphasized the importance of that level holding.

He also pointed out that the current bull run has lasted more than 900 days — a historically stretched timeline that may warrant more cautious positioning but doesn’t necessarily indicate a breakdown.

Technical analyst SuperBro added to the long-term bullish case, noting that Bitcoin has stayed above the previous highest weekly close from 2021 for four consecutive weeks and hasn’t fallen below the five-week EMA since early May. In his view, this continued strength shows that bulls are fully in control and that once Bitcoin breaks the trendline extending from 2021, the next move could quickly reach the $140K to $150K range.

Bitcoin Chart Patterns Point to $140K Target

On the technical side, Bitcoin is forming two well-known bullish continuation patterns — a cup-and-handle and a bull flag — on the weekly chart. In the cup-and-handle setup, the neckline sits above $109,000, and a breakout from this zone would project a move to roughly $143,000, or about 35% higher than current levels.

The bull flag presents a similar outlook, with the breakout target sitting around $143,300. While the patterns still need confirmation, the structural setup is there. The argument for Bitcoin reaching $140,000 isn’t just technical — it’s supported by a broader mix of on-chain activity, macro conditions, and market structure.

The short-term may bring more turbulence, especially with CPI data in play and traders eyeing $100K as critical support. But the high-time-frame setup remains bullish, and many analysts see any near-term dip as a buying opportunity.

If Bitcoin can hold above $100,000 and break decisively above $109,000, the long-discussed rally to $140,000 could finally materialize. At the time of writing, Bitcoin is sitting at $107,625.