Key Takeaways:
Bitcoin has gained 10% since June 5, reaching $110,000 on June 11.
Analysts expect near-term targets of $120K–$150K if resistance breaks.
Long-term predictions from Michael Saylor, ARK Invest, and Bitwise go as high as $1M–$2.4M.
Short-term resistance zones include $112K and $114K, per Binance liquidation data.
Bitcoin surged to $110,000 on June 11, marking a 10% rally from June 5 and coming within 2% of its all-time high. The move has triggered renewed optimism among traders and analysts who believe the price could accelerate to $120,000 or higher in the near term.
At the time of writing, BTC is trading at $109,757, according to Binance.
BTC price near breakout zone
Analyst Jelle noted that Bitcoin’s monthly chart shows signs of acceleration, with $120K–$150K as likely cycle targets. Michaël van de Poppe also sees upside potential if BTC flips $110,500 into support.
“Bitcoin is accelerating after breaking $106,500,” van de Poppe wrote. “A similar move above $110,500 could take us into price discovery.”
Analyst Mags identified a cup-and-handle pattern on the weekly chart that supports a breakout to $125,000, while additional chart setups suggest a run to $140K.
Michael Saylor: Bitcoin heading to $1M
Strategy chairman Michael Saylor reiterated his long-term Bitcoin outlook in a June 10 Bloomberg interview, saying Bitcoin could eventually reach $1 million.
“Winter is not coming back. If Bitcoin’s not going to zero, it’s going to $1 million,” said Saylor, citing increasing institutional demand and fixed supply.
Strategy now holds 582,000 BTC worth over $63 billion, according to Saylor Tracker.
Other long-term forecasts include ARK Invest’s $2.4 million "bull case" for 2030, Bitwise's $1 million target by 2029, and SkyBridge Capital's $500,000 outlook.
$112K–$114K key short-term resistance
According to Binance’s BTC/USDT liquidation heatmap, major resistance zones lie at $112,000 and $114,000. These areas represent high concentrations of leveraged short positions and could act as catalysts for rapid upward movement if breached.
“Bitcoin’s ATH liquidity is calling,” analyst AlphaBTC posted, warning that BTC may need further consolidation before taking out the previous high.
