Bitcoin’s price is outperforming expectations following a bullish forecast from analyst Kaduna, who predicts it could reach $120,000. This surge is linked to a temporary tariff suspension by US President Trump. Current trends show Bitcoin recovering above key resistance levels, potentially reaching $120,000-$125,000. Despite the upward movement, some analysts remain cautious amidst ongoing market volatility.
The Bitcoin price movements are currently echoing a bullish forecast made by crypto analyst Kaduna earlier this month. His prediction suggests a potential breakout above $120,000, driven by a 90-day suspension of tariffs announced by US President Donald Trump, which could act as a macroeconomic catalyst for Bitcoin.
Kaduna’s renewed analysis indicates his bullish prediction is unfolding as anticipated. He previously stated on April 11 that Bitcoin was gearing up for a significant surge past the $120,000 mark. This buildup is believed to be part of a mini bull market, within a 55-day “exit window” from April 3 to June 3, 2025, during which he expects market frontrunning to occur.
He supported his prediction with a detailed chart that overlays Bitcoin’s price movements with macroeconomic indicators, indicating a projected steady increase during the upcoming period. If his forecast holds true, he plans to exit most of his positions by the conclusion of this window. This bullish sentiment is further evidenced as Bitcoin begins to rise above local resistance levels with strong volume support.
Kaduna’s follow-up candlestick chart illustrates that Bitcoin is breaking above the $84,000 resistance, confirming the early signs of frontrunning behaviour he previously noted. The upward trend suggests a possible move to a price range between $120,000 and $125,000 in the coming month and a half, affirming the analyst’s bullish outlook.
Bitcoin’s price is currently recovering from its previous drop below $80,000, with CoinMarketCap reporting it at $83,395, showing a 7.16% rise over the past week. Following a brief breach of the $84,000 resistance, Bitcoin’s price has retracted before settling back to its current valuation. Notably, analyst Tony Severino expresses a neutral stance, awaiting further developments as market volatility continues amid the US trade war and tariff changes.
