According to cryptocurrency analyst Timothy Peterson, Bitcoin
$ 96,514 has the potential to reach $135,000 in the next 100 days. This notable prediction is linked to the VIX, known in financial circles as the “fear index,” which surged past 56 in April. Historical data indicates that tech stocks experience robust recoveries following VIX spikes, and Bitcoin is reportedly following a similar trajectory. Peterson expects rapid momentum in the largest cryptocurrency once the VIX dips below the 18 level, indicating a return of risk appetite.
April’s VIX Surge and Bitcoin Price Impact
The VIX climbing above 56 in April was a rare event, not observed since the 2008 financial crisis and the 2020 pandemic crash. Following both periods, the Nasdaq index gained approximately 10% in the first week and around 40% in the subsequent 100 trading days.
Peterson compares Bitcoin’s recent price movements to the Nasdaq’s recovery chart, seeing a 95% resemblance and anticipating a similar or even greater leap “when risk appetite returns.” Bitcoin’s more volatile nature compared to traditional tech stocks means its upward moves can be magnified.
Should the VIX fall below the critical threshold of 18, Peterson argues that markets will enter a “risk-on” area, with Bitcoin potentially testing the $107,000 level initially. He emphasized that if the calm in the “fear index” persists, reaching $135,000 within 100 days seems plausible. Although historical correlations support this narrative, he also cautioned investors to stay wary of sudden shifts in market sentiment.
Analyst’s 100 Days to $135,000 Forecast
Bitcoin is currently trading around $96,296, with a market cap of approximately $1.9 trillion. The chart highlighted the first support level at the $95,173 range, strengthened after the April peak. As long as prices maintain above this band, the next resistances appear at $99,000 and between $110,000-$115,000. Staying above the Kijun line confirms a positive medium-term trend.
Should Peterson’s scenario unfold, Bitcoin could enter a new phase of price discovery, rebounding from the “local bottom” established over the last two months. However, heightened macroeconomic tensions, regulatory news flow, and liquidity conditions may lead to volatility beyond these predictions. Hence, the analyst advises, “The path for gains is clear, but don’t forget the brake pedal.”
