Bitcoin traders see $88,000 or more after BTC’s three-month high

Bitcoin (BTC), which has been absent for three months, returns to fighting form this week. $80,000 is back in the Bitcoin wallet.

• Bitcoin finally reaches $80,000 for the first since late January. A trader has brought $88,000 or higher into the spotlight.
• Bitcoin’s bear flag is currently in the limelight, and some are still expecting a new breakdown of macroeconomics.
• Dissent at the Federal Reserve contrasts with record highs for the S&P 500, but analysis warns that stocks are not safe.
• A new study suggests a possible risk asset tailwind. The oil market is over and supply will come down.
• Bitcoin’s MVRV metric has reached its highest level since late January.

BTC can reach $88,000 or higher in the next few days: Trader

A breakthrough is the starting point of it all key 21-week trend line Bitcoin was at $80,000 last week and is now back to that level. first time in three months.

TradingView data shows the new Bitstamp local high of $80.617.

Bitcoin reached its highest weekly closing price since January, and it was only the second time since October 2025 that Bitcoin had surpassed the trendline of 21 weeks.

Chart of BTC/USD for one week with 21EMA. Source: Cointelegraph/TradingView

Market participants dare to predict even higher levels in the future. For crypto trader and analyst Michaël van de Poppe, $88,000 is just the start.

“Bitcoin looks primed for upwards momentum,” In one of his essays, he wrote: latest posts on X. 

“Very keen to see how the markets will react when the US opens, especially given the positive ETF flows of last Friday. Breakout above $79K opens the opportunities all the way towards $86-88K for coming period.”

BTC/USDT one-day chart. Source: Michaël van de Poppe/X

Van de Poppe mentioned Friday’s net inflows of $630 Million for US Spot Bitcoin Exchange-Traded Funds (ETFs).

As a consequence February’s drop to the $60,000 zoneThe he called it “one of the strongest corrections in its existence,” Van de Poppe claimed that the onchain indicators were now reset.

“That means: we can easily run to $92-95K without any breakdown of the bear market trend, and we can easily start a bull market from here,” another post On Sunday, the statement was made.

Bitcoin bear flag divides traders

Bitcoin’s push to $80,000 will have implications on the BTC/USD daily chart for an extended bearish pattern. The second bear flag of Bitcoin in 2026 is tantalizingly near to disappearing.

At the same time, a failure to break higher leaves price vulnerable to a comedown — possibly to new macro lows.

“If it does lose this structure, a deeper move down in that 30–40% range wouldn’t be surprising and the whole market probably feels it,” Crypto Storm, a trader and an investor wrote in A post on X. 

“Only real shift in this view is a clean daily close back above 80K, that would flip things bullish again.”

BTC/USDT one-day chart. Source: CryptoStorm/X

BitBull Trader BitBull believes that failure is likely to occur. telling They told their followers to expect that soon they’d be building up short positions, with a target of $60,000 as a goal.

“$BTC bear flag is very close to completion,” They summarized.

BTC/USDT one-day chart. Source: BitBull/X

The consensus is not unanimous on where BTC/USD should go. Jeff Sun is convinced that Bitcoin bulls are already in the lead.

“Spot has now reclaimed $80,000 for the first time since January 31, 2026. This is a position I have been building via ETF since early March,” He reported Monday is a holiday.

Sun referred to the structure “not a bear flag” Based on the most recent three-month highs in prices.

BTC/USD one-day chart. Source: Jeff Sun/X

Jurrien Timmer (director of global macro, Fidelity Investments) also noted the Bitcoin rebound in late February from the $60k area. 

“The rally off the $60,033 low could still be described as a bear flag (not unlike the bear market rally last fall), but my sense is that Bitcoin continues to build a large base here in preparation for the next major up wave,” He told The number of X-followers at that time.

Fed rate reductions “over for now” As officials save

The impact of the US-Iran conflict on inflation has become a major concern for officials as it continues to rage on.

Federal Reserve System latest interest-rate meeting The tensions with Iran, as well as the near-three-year highs of its currency rate, were highlighted. “preferred” inflation gauge.

The consensus on policy seemed to be under pressure, with four FOMC members expressing their disapproval. This was the most contradictory meeting statement made since the 1990s.

“The primary reason for dissent was against language in the meeting statement indicating an easing bias,” In the most recent edition of their regular newsletter, trading resource Mosaic Asset Company discussed the issue. The Market Mosaic. 

“Leading indicators of the fed funds rate indicates that the Fed’s easing cycle is over for now.”

Fed Target Rate Probabilities (screenshot). Source: CME Group

Jerome Powell will take the podium this week along with other senior Fed figures. replaced by Kevin Warsh On May 15, CME Group data was released. FedWatch Tool Markets now show that the least they expect in this year is easing.

When policy tightens, risk assets tend to struggle. So far, however, stocks have shaken off any cold feet, with the S&P 500 hitting new record highs Last week.

Mosaic went on to say that the highs in those numbers were a result of a “sharp jump in corporate earnings.”

“If inflation does start accelerating further in the months ahead, that could add significant pressure to stock valuations,” This is a warning. 

“High inflation tends to lead to high interest rates, which makes the present value of future corporate profits worth less in present value terms.”

S&P 500 one-day chart. Source: Cointelegraph/TradingView

Fuel gains “fully priced in” Iran War – Despite the fact that it is still going on

There is a growing belief in the analytics community that there will be a future for global oil prices.

The latest installment of his Commodity Report Analyst Lukas Kümmerle stated on Monday that, despite the current supply crunch, there is still a trend of supply exceeding demand. 

“Brent crude is currently trading around $112 per barrel, up from $61 at the start of the year. The price has tested the March and April highs three times in the past month — and each time it has been rejected,” He noted. 

“This is classic technical behaviour for a market where the bullish story is fully priced in.”

Crude oil one-day chart. Source: Lukas Kuemmerle

Kuemmerle claimed that markets are not forgetting the “supply growth” The narrative of 2026 and the likelihood that oil prices will fall is increased by it.

“Even Goldman Sachs, the most war-bullish of the major banks, sees Brent averaging $85 with the Hormuz disruption fully priced in,” He went on.

Brent crude oil spot, the benchmark price for Brent crude oil in the United States, passed $120 per barrel last week. The price then dropped to $115 before rising back to $120 to begin the week.

Brent crude oil spot chart for one week. Source: Cointelegraph/TradingView

Kuemmerle also adds: “hedge funds that wanted to be long the Iran story are already long.” 

“The flow has turned,” He concluded by saying that smart money “has already repositioned for the reversal.”

Bitcoin MVRV shows continued recovery

This month, a key Bitcoin Onchain Metric is supporting bullish sentiment.

The data from the onchain analytics platform CryptoQuant The market value to real value ratio of Bitcoin (MVRV) tool has been at multi-month highs this week.

Bitcoin MVRV is the ratio of the Bitcoin market capitalization to the last time the bitcoin supply was moved. “realized cap.”

A value below 1 indicates that the condition is oversold. dipping to lows near 1.1 Bitcoin reached $60,000.

“The Bitcoin MVRV Ratio is currently reading around 1.45, a significant level as it represents one of its highest readings since the beginning of 2026,” CryptoQuant contributor Arab Chain notes now. 

“This signal reflects a clear improvement in Bitcoin’s market valuation relative to its realized value, suggesting that the market has begun to regain an important portion of its momentum following a period of decline and rebalancing during the first months of the year.”

Bitcoin MVRV Ratio Source: CryptoQuant

Arab Chain describes MVRVs as showing a “gradual improvement in investor profitability.”

“If the indicator continues to climb in the coming period, it could point to the market entering a stronger and more mature phase within the broader upward trend,” It adds.