TechFlow news, May 19 — Ryan Lee, Chief Analyst at the Bitget Research Institute, stated that from a technical perspective, Bitcoin is approaching a "golden cross" formation, signaling the potential start of a new upward trend. This signal closely resembles Bitcoin's movement at the end of 2024, when it rose from $70,000 to $100,000, with a short-term target range of $110,000 to $125,000.
From a medium-term outlook, the trend appears optimistic. Driven by inflows into spot ETFs, reduced supply post-halving, and continued institutional adoption, Bitcoin could reach between $112,000 and $180,000 this year. For Ethereum, if ETH-related ETFs gain greater attention and the "Pectra" upgrade achieves substantial progress in L2 scaling, its price could rise to $3,900–$6,900.
At the same time, Ryan cautioned investors about potential risks. In the short term, a large-scale profit-taking event could lead Bitcoin to retrace to the $90,000–$95,000 range, while Ethereum might fall to $1,800. Investors are advised to closely monitor key indicators such as U.S. Treasury yields, ETF inflows, and exchange net flows to assess the sustainability of the market trend. Prior to confirmation of the next bullish wave, maintaining patience and prudent risk management remains crucial.
