Bitcoin Breaks Consolidation, Eyes $96K or $106K Next

Bitcoin has recently broken below its multi-week consolidation range, sparking discussions among analysts and institutional investors about whether its next move will likely target $96,000 or $106,000.

The event underscores the cryptocurrency’s stability within support levels and the potential for further upward moves amidst ongoing institutional adoption.

Bitcoin’s recent movement has seen it oscillate between $102,000 and $112,000 since May 2025. The wider crypto community and experts like PlanB, the creator of the Stock-to-Flow model, and Mike Novogratz are closely monitoring this price trajectory.

PlanB, the creator of the Stock-to-Flow model, reports increased bullish targets based on prior all-time highs. Mike Novogratz emphasizes strong institutional support, suggesting Bitcoin could “reach $1,000,000 relatively soon.”

The financial markets have responded to Bitcoin’s movements with increased interest, particularly around its long-term potential. Investors see the $100,000 level as a significant technical floor, indicating continued ETF inflows and institutional confidence.

Institutions remain consistent in their crypto adoption, with continued buying activities despite market volatility. Analysts project a price target of $109,150 upon overcoming present resistance, although a drop to $96,000 remains a possibility.

Insights into historical price patterns reveal parallels with past Bitcoin swings, indicating that potential bull runs could follow recent consolidations if current support holds firm.

“2025-06-05 Bitcoin New ATH .. so what’s next?!” — PlanB, Bitcoin Analyst, Creator of Stock-to-Flow model