---
title: "Unveiling the ‘Golden Number’: Bitcoin Price Surges Above $118,000 – Analyst Predicts More Gains"
url: https://diffcoin.com/unveiling-the-golden-number-bitcoin-price-surges-above-118000-analyst-predicts-more-gains/
description: "Bitcoin has seen a remarkable surge in the last week, with its price soaring by almost 9%, from $108,300 to nearly $118,800. This rally took many by..."
published: 2025-07-12
updated: 2025-07-12
author: "Mila"
site: "Diffcoin"
---

# Unveiling the ‘Golden Number’: Bitcoin Price Surges Above $118,000 – Analyst Predicts More Gains

## Overview

**Bitcoin** has seen a remarkable surge in the last week, with its price soaring by almost 9%, from $108,300 to nearly $118,800. This rally took many by surprise, especially as **Bitcoin** surpassed its previous all-time high from May, reaching above $111,970. However, according to well-known **Bitcoin** technical analyst, CryptoCon, this breakout might just be the tip of the iceberg.

In a recent social media post, CryptoCon unveiled a fascinating long-term cycle pattern that suggests a more ambitious price target for **Bitcoin**. By analyzing the 5.618 Fibonacci extension, the analyst highlighted a number that has consistently aligned with past cycle tops. This projection raises the intriguing possibility of **Bitcoin** embarking on another parabolic run.

CryptoCon’s analysis delves into the 5.618 Fibonacci extension level in previous market cycles, showcasing how **Bitcoin** ‘s historic peaks have closely mirrored this specific extension. By measuring the movement of each market cycle and applying this golden ratio, the analyst illustrated how the peak prices in June 2011, November 2013, December 2017, and November 2021 all converged around this 5.618 multiple.

Applying the same methodology to the current cycle, CryptoCon predicts that **Bitcoin** ‘s next significant milestone lies somewhere between $170,000 and $180,000. Specifically, the 5.618 Fibonacci extension indicates a “Golden Number” of $184,181 for **Bitcoin** ‘s price in this cycle. This insight provides a compelling perspective on where **Bitcoin** ‘s price trajectory might be heading next.

The recent surge in **Bitcoin** ‘s price over the past 48 hours can be attributed to several key factors. A substantial short squeeze earlier in the week reportedly liquidated over $1 billion in bearish positions. Simultaneously, US-based Spot **Bitcoin** ETFs saw daily inflows exceeding $1 billion for two consecutive days, further fueling the bullish momentum.

In his social media post, CryptoCon hinted at an impending expansion in **Bitcoin** ‘s price action, stating, “All the boring price action is coming to a squeeze; it can’t stay that way forever.” This observation underscores the anticipation building up in the market as **Bitcoin** ‘s price compression hints at an imminent breakout.

As **Bitcoin** continues its upward trajectory, the analysis provided by CryptoCon offers valuable insights into the potential future direction of the **cryptocurrency**. With a projected price range of $170,000 to $180,000, based on the 5.618 Fibonacci extension, **Bitcoin** enthusiasts and investors alike will be closely monitoring how this cycle unfolds.