Crypto investors may be underprepared for a potential surge in Bitcoin’s price, with some analysts predicting a significant increase by September. According to Markus Thielen, head of 10x Research, traders appear to be underpositioned following the recent option expiry, which led to a significant roll-off in exposure. This underpositioning could drive Bitcoin’s price to $133,000 in September, as traders are predominantly buying calls, signaling their bullish stance on the asset.
Bitcoin’s bullish trend model has turned bullish, with a 60% probability of further upside over the next two months. This short-term breakout could carry momentum through to September, with historical analogs pointing to gains of around 20%. At Bitcoin’s current price, a 20% move higher would place BTC near $133,000. Several catalysts could push Bitcoin further, including the upcoming US Consumer Price Index print and a bullish policy backdrop during the upcoming US crypto week.
Although the third quarter is typically Bitcoin’s weakest quarter, averaging just a 5.84% return since 2013, Thielen believes this time could be different. Traders on the sidelines risk missing the move that could define this quarter, as Bitcoin is breaking out, fueled by relentless ETF demand and a series of policy catalysts on the horizon. Thielen is not alone in his thinking about Bitcoin. Crypto trader Jelle said in an X post, “Bitcoin is taking off.” Meanwhile, crypto analyst Rekt Capital said, “The Bitcoin downtrend is over.” However, crypto analyst Matthew Hyland warned that “Max pain [is] coming” for those who sit on the sidelines, echoing a prediction he made in May that investors were ignoring a buy-the-dip opportunity similar to how they did five years ago.
