Bitcoin (BTC) price analysis: The gold/BTC ratio indicates bullishness, and the cup pattern is expected to break through $140,000.

Today (2) in the European early session, Bitcoin (BTC) has returned above 107,000 USD, with prices continuing to consolidate in the resistance level range of 105,000 USD to 115,000 USD, seeking the next direction. The lack of bullish momentum in Bitcoin prices indicates that market confidence is weakening, especially among retail investors. The gold/BTC ratio indicates a bullish trend, and a cup pattern is expected to break through 140,000 USD.

The chart below is from Google Trends and shows that interest in Bitcoin users has dropped to 18, the lowest level since October, indicating that public sentiment is weakening.

(Source: FXEmpire, Google Trends)

Despite the Federal Reserve maintaining interest rates at 4.25%-4.5%, its hawkish tone has heightened cautious sentiment in the market. The Fed pointed out that tariffs could temporarily raise inflation but still anticipates two rate cuts this year. However, a strong labor market and unstable inflation expectations may delay any immediate easing policy.

The chart below shows that U.S. inflation expectations fell to a three-month low of 5.0% in June 2025. This decline is slightly lower than the preliminary estimate of 5.1% and significantly lower than the 6.6% in May.

(Source: Trading View)

A cautious policy stance and a decline in retail investor interest have limited Bitcoin's short-term upside potential. However, the cryptocurrency fear and greed index has reached 64, indicating that risk appetite is on the rise, which may support a volatile pump. For gold, ongoing inflation concerns and uncertainty surrounding Federal Reserve policy continue to provide a solid bullish backdrop.

The ratio of gold to Bitcoin indicates a bullish momentum for Bitcoin

The long-term chart of the gold to Bitcoin ratio shows a strong correlation between gold prices and Bitcoin prices. The chart reveals a bearish trend in this ratio, where each peak at the resistance level of the downward trend line coincides with the pump of both Bitcoin and gold.

Breaking below 0.026 will confirm further declines in that ratio, indicating that Bitcoin may strengthen.

The June monthly K-line chart forms an inside bar, indicating that the price is being compressed and suggesting that the next round of momentum may pose a bearish outlook for this ratio.

Bitcoin Technical Analysis

FXEmpire analyst Muhammad Umair stated that the Bitcoin weekly chart shows that the price is consolidating below the key resistance level of $105,000 to $115,000. A breakout above this resistance level could trigger a strong pump in the price of Bitcoin.

Since 2021, the formation of the cup pattern, along with the subsequent breakout from the descending expanding wedge, indicates positive price development. In addition, the consolidation above $75,000 highlights strong bullish momentum. A confirmed breakout at $115,000 could open the way toward the $140,000 region.

(Source: Trading View)

The daily chart of Bitcoin shows that the price exhibits a strong bullish trend above the $75,000 area. A breakout above the red dashed trendline near $115,000 could trigger a move towards the resistance area around $140,000. The emergence of an ascending expanding wedge pattern highlights strong price volatility and suggests further upside potential.

(Source: Trading View)