Bitcoin Rally “Faster Than Expected” as $200K Targets Gain Steam

Bitcoin is back with a vengeance. After weeks of grinding upward, BTC blew past $108,000 on May 21 — its highest price since January — igniting a fresh wave of bullish momentum and price targets that now stretch as high as $200,000.

The move marks a 14% gain since May 5 and puts Bitcoin within striking distance of its all-time high around $109,350. Market watchers say the breakout is just getting started.

“Bitcoin is going to an all-time high faster than I expected,” said Michael van de Poppe, founder of MN Capital, who believes BTC could hit $200,000 as distrust in fiat currencies fuels demand for digital assets.

Bitcoin’s Chart Patterns Signal Breakout Momentum

The technical setup backs the bulls. BTC recently completed a rounded bottom pattern on the daily chart — a classic reversal signal — and broke above the $106K neckline with conviction. The pattern now points to a measured move toward $140,956.

Momentum is building. The relative strength index (RSI) is hovering near 69, not yet in overbought territory, and a looming golden cross could trigger even stronger upside.

Meanwhile, pseudonymous analyst AlphaBTC flagged an extended ascending channel that’s been driving the rally since early April. Their next short-term target: $115,000.

“This grind and pop price action is being driven by bigger players,” AlphaBTC noted, adding that short squeezes are accelerating the move.

The $200K BTC Club Is Growing

While $140K is a widely cited technical target, some analysts are shooting higher — much higher.

Mags, another popular crypto analyst, declared that Bitcoin is entering its “biggest bull run ever,” projecting a blow-off top around $215,000 based on historical halving cycles.

Network economist Timothy Peterson sees a more conservative high, estimating BTC could reach at least $115,000 by June, with a ceiling around $130,000 — still a significant leg up from here.

Macro Fuel for Bitcoin’s Fire

Beyond technical analysis, the macro backdrop is giving Bitcoin serious lift. With inflation still biting and confidence in fiat currencies eroding, BTC’s appeal as a hedge and hard asset is catching mainstream attention once again.

The global crypto market cap surged past $3.36 trillion for the first time since February. This amplified bullish sentiment across the board.

At the time of writing, BTC is sitting at $109,042.