Bitcoin's sharp jumps always help analysts make forecasts, as they help outline the future trend. Thus, Thinking Crypto analyst suggests that Bitcoin will reach a historical maximum of $73,794 this quarter.

However, he did quote another analyst, Cryptowzrd, who calls Bitcoin's current move a "gold trap," adding that gold is paving the way for Bitcoin and the parabolic rally has already begun.

Thinking Crypto pointed out that the Dollar Currency Index (DXY) indicator is showing a bearish setup on the daily chart as it approaches the overbought zone on the RSI metric. DXY is an indicator used by traders to predict market trends.

Typically, the DXY is inversely correlated with risky assets such as cryptocurrencies and the stock market. By showing a bearish setup, it suggests that the crypto market may be preparing for an upward rally.

Along with his analysis of Bitcoin, he was optimistic about Avalanche's prospects, as he believes the game's protocol works well in the blockchain ecosystem. After its early access release, the Avalanche-based battle royale shooter Off The Grid has already become popular on the Epic Games Store.

This initiative has contributed to the adoption of AVAX, which has led to a 20% increase in the token's price over the past five days.