Bitget Identifies $142K as Bitcoin Cycle Reference in Latest Market Analysis

Bitget, a global cryptocurrency exchange, has released a market analysis exploring Bitcoin’s recent surge past $87,000 and the factors that could influence its next phase. The analysis highlights $142,260 as a potential long-term reference point, derived from investor cost-basis data, though it emphasizes this is not a price forecast but a framework for understanding the market cycle.

The analysis distinguishes between immediate technical levels and longer-term cycle indicators. Near-term technical reference points are identified at $97,000 and $107,500, while the investor cost-basis framework suggests $142,260 as a threshold where broader profit-taking might occur. The True Market Mean Price (TMMP), a cost-basis metric, currently stands at $76,897, indicating that the average Bitcoin investor is holding a gain of roughly 12% at current prices.

Bitget’s analysis also highlights the importance of spot demand, particularly inflows into U.S. spot Bitcoin ETFs, as a key driver of the recent rally. The exchange notes that sustained spot buying could support further price increases, unlike leveraged trading, which can accelerate but not sustain momentum. Additionally, the analysis underscores the relevance of global liquidity and macroeconomic conditions, such as oil prices and yen movements, in shaping Bitcoin’s trajectory.

Looking ahead, Bitget identifies several areas for market participants to monitor, including the 82,000-84,000 support area, the technical reference points at $97,000 and $107,500, and the longer-term cycle reference at $142,260. The exchange will continue to track the interaction between price structure, investor cost basis, spot demand, liquidity, and broader macroeconomic conditions as Bitcoin’s market cycle evolves.