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Bitcoin (BTC) has registered a slight uptick in the last few hours after US 
President Donald Trump announced a successful airstrike on Iranian nuclear 
facilities, a move aimed at de-escalating rising tensions in the Middle East 
after several days of conflict between Iran and Israel. Despite the short-term 
price reaction, BTC remains in a corrective phase, having struggled to break 
through the $110,000 resistance level over the past month with market 
sentiment being largely shaped by both global uncertainty and technical 
stagnation. Amid this backdrop, a crypto analyst with X pseudonym On-Chain 
College has highlighted two prospective price targets based on on-chain data. 
Related Reading: Bitcoin Price Breakdown Spurs Sell-Offs, Analyst Reveals What 
Will Happen If BTC Hits 92,800 Market Odds Favor Further Upside For Bitcoin &#8211; 
Analyst In a recent X post on June 21, On-Chain College shares a positive 
long-term Bitcoin price outlook using the Mayer Multiple, an on-chain metric 
that measures relationship between Bitcoin’s price and its 200-day moving 
average (200DMA). By tracking key valuation bands, the Mayer Multiple helps 
determine whether Bitcoin is overvalued, undervalued, or fairly valued, based 
on historical price behavior. Since the bull market commenced in Q4 2024, 
Bitcoin has consistently moved between 1.0x band i.e. the 200DMA (blue line) 
and the 1.5x band (orange line) representing the mid price range zone. 
Notably, the Bitcoin price struggles in the past have generated speculations 
of potential market top at the current market high. However, the Mayer 
Multiple chart shows that BTC has only ever attained a cycle price peak after 
hitting the 2.5x band (red line). Therefore, there is still room for price 
growth in the current bull market. However, the immediate price targets for 
premier cryptocurrency lies at $96,000 (1.0x) or $144,000 (1.5x). Notably, 
there is significant potential to rediscover its bullish form and surge 
towards $144,000 in line with its defined-range bound movement. However, there 
are also equal chances of a return to $96,000 which On-Chain College states 
would aid in flushing out weak hands before a full-scale bullish price 
reversal. Related Reading: XRP Daily New Addresses Plunge 80% In 2025 — 
Bearish On-Chain Metrics Raise Alarm Bitcoin Price Outlook At the time of 
writing, Bitcoin is valued at $102,700 following a 1.50% decline in the last 
24 hours. Meanwhile, the maiden cryptocurrency also reports losses of 2.94% 
and 8.08% on the weekly and monthly chart, respectively. According to 
CoinCodex, the general market sentiment remains neutral. However, CoinCodex 
analysts foresee an impending price breakout with an audacious projection of 
$136,472 within the next five days. Interestingly, it’s worth noting that this 
level may represent or come close to the cycle market top, as long-term 
forecasts include $138,379 in three months and $116,115 in six months. 
Featured image from Pexels, chart from Tradingview

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