Bitcoin Needs Only A Minor Push To Reach $175K: Analyst

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Bitcoin traded just above $121,000 on Wednesday, holding onto gains after a drop from a recent peak above $126,000. According to analyst Egrag Crypto, a small market move could trigger a much larger rally, building on a pattern he says has repeated across past cycles. Related Reading XRP Fear Index Spikes To 6-Month High, And That Could Spark Its Next Breakout 1 day ago Historic Channel Breakouts

Egrag’s view is based on a three-month look at price channels that, he argues, have preceded major rallies. Based on reports, similar channel breakouts were visible before the 2013 surge to about $1,163, the 2017 rise past $19,000, and the 2020–2021 rally that pushed prices above $69,000.

He says the current channel began forming in April 2022, and that a modest “blip” upward could push Bitcoin to $175,000. That target would require roughly a nearly 43% rise from $122,620. Short-term swings have ranged from $115,000 to $125,000 this week, while the present price sits near $121,900. #BTC – $175K Is Just a Blip:

If we look at the historical behavior of #BTC on a 3-month time frame, we can see a clear channel formation. In the past three cycles, we’ve consistently seen a breakout at the end of these channels. While diminishing returns are evident, they are… pic.twitter.com/TabFoVlXBT

— EGRAG CRYPTO (@egragcrypto) October 8, 2025

Targets And Risks To Watch

Egrag outlined a range of possible outcomes. He placed $175,000 as his primary target. He also suggested a midpoint near $250,000 and an upper scenario around $400,000. Those are ambitious numbers. They are presented as part of a longer-term view rather than promises of an immediate move.

The analyst compared his Bitcoin call to a past gold forecast—he set a $3,500 target for gold that later saw prices near $4,000—using that as a reference for his forecasting approach. BTCUSD currently trading at $122,036. Chart: TradingView

At the same time, on-chain data offer a mixed picture. Blockchain analytics firm Glassnode reported that 97% of Bitcoin’s supply is now in profit following the recent rally.

That high level of realized profit suggests many holders sit above their purchase price. Some analysts interpret elevated profit as a sign that markets may pause so investors can take gains. Related Reading XRP Open Interest Nears $3B As CEO Sees $10B ETF Inflows Ahead 1 day ago

Others point to crowded positions and rising leverage as signs that short-term volatility could increase. Reports have disclosed concern about what some call a “Suckers Rally,” a spike that tempts late buyers and is followed by a drop. Market Behavior And Investor Moves

Accumulation has been visible in many wallets. Some investors reallocated gains rather than selling out entirely, which, according to reports, can indicate a controlled rotation of capital rather than a panic sell-off.

Featured image from Pixabay, chart from TradingView