As Bitcoin price continues to climb, prediction by analysts abound. Earlier this week, Geoff Kendrick, the bank’s head of digital assets research, said Bitcoin might reach $135,000 in the near term.
In another analyst forecast, crypto analyst Ali Martinez has projected that Bitcoin could climb to $139,800, a forecast that closely aligns with Standard Chartered’s outlook.
Furthermore, analysts also noted that Bitcoin’s supply on exchanges has dropped to a six-year low, a trend often seen as a sign that investors are holding rather than selling, potentially paving the way for another price rally.
Pricing Bands Reveal Bitcoin Price Prediction of $139,800
The latest data from Glassnode’s MVRV Extreme Deviation Pricing Bands suggests that Bitcoin remains in a strong technical position.
According to an analysis of this metric by Ali Martinez, Bitcoin is currently trading around $122,000, holding comfortably above the key support level of $117,650, a threshold that the analyst says could determine its next major move.
Market observers noted that as long as Bitcoin maintains this support, the pricing bands indicate a potential upside target near $139,800.
This projection aligns with growing bullish sentiment in the broader market, where several analysts, including the head of research at Standard Chartered Bank, have pointed to similar levels as the next resistance zone.
The structure of the bands also reflects a healthy consolidation phase, showing that Bitcoin’s recent price stability may be setting the stage for another breakout.
However, the analyst cautioned that a drop below $117,650 could invalidate the bullish setup in the short term.
For now, momentum remains positive, and technical indicators continue to favor an upward bias.
Bitcoin on Exchanges Hit 6-Year Low
Bitcoin on exchanges has fallen to its lowest level in six years, a development that history suggests could have major implications for Bitcoin price prediction ahead.
The last time reserves dipped this low was back in 2019, just before a powerful supply squeeze set the stage for the next bull run.
The chart illustrates Bitcoin’s price action within Glassnode’s MVRV Extreme Deviation Pricing Bands. Currently, Bitcoin trades near $122,000, hovering just under the +1.8σ band at $138,894.
This positioning shows that while the market is stretched above its long-term average cost basis, it has not yet entered the overheated territory that historically signals cycle tops.
What stands out most is the consistent climb since early 2023, with the realized price now at $54,348. Investors who bought at or near that average cost basis are firmly in profit.
More importantly, the steady grind higher, even after sharp corrections, points to a structurally resilient market where dips continue to be absorbed.
In past cycles, supply shortages on exchanges combined with elevated MVRV levels have preceded accelerated rallies.
If exchange balances continue to thin while price holds its ground above the mean, the conditions are ripe for another leg higher.
The key to watch now is whether Bitcoin can push decisively above the final barrier before further parabolic extensions.
Bitcoin Price Prediction: 2025 Q4 Bitcoin Breakout as Crypto Markets Reach ATH
The broader crypto market has just printed a new all‑time high. The chart below highlights a decisive breakout that places the total crypto market firmly into uncharted territory.
Historically, when the crypto market enters this phase, momentum tends to build quickly as capital rotates across major assets and altcoins.
This kind of broad‑based strength often precedes accelerated price discovery. Turning to Bitcoin, the second chart zeroes in on a familiar pattern: the Q4 breakout.
Each cycle has shown its own unique setup, yet the fourth quarter has consistently acted as the launchpad for explosive rallies.
The current structure mirrors that rhythm, with consolidation phases giving way to steep vertical moves once resistance is broken.
What makes this setup compelling is the timing. After months of sideways action, Bitcoin has coiled into a tightening wedge, and history shows that these patterns often resolve with conviction.
If the breakout unfolds as it has in prior years, Bitcoin could once again lead the market into a strong year‑end rally.
Different patterns may shape each cycle, but the recurring Q4 breakout remains one of the market’s most reliable themes.
With momentum building across the entire sector and Bitcoin primed for another decisive move, the stage looks set for a powerful finish to the year.