The post Analyst Predicts Bitcoin Price May Hit $120K, Here’s Why appeared on BitcoinEthereumNews.com.

Key Insights: A $150M long at $108,885 signals whale conviction for a Bitcoin price breakout above $110K. Triple top resistance at $110K could send BTC price to $120K or back to the $93K support level. Bitcoin price broke out of a falling wedge, now approaching its long-term resistance zone. Bitcoin price is testing the $110,500 resistance for the third time in recent months, just as institutional interest and regulatory momentum intensify. Traders now anticipate a critical move that could send BTC price soaring toward $120,000 or higher. $150M Long Opens at $108K Ahead of Bitcoin Price Breakout According to Altcoin Gordon, a long position of up to $108,885 with 40x leverage was put in place by the same entity, resulting in the $150.87 Million bet. The order was placed when BTC price fluctuated at about $110,500, where earlier rallies did not succeed. More so, the timing indicated a tactical maneuver by a large trader or institution in anticipation of a confirmed breakout. Source: Altcoin Gordon, X This kind of placement around resistance is usually an indicator of confidence in the change of structure. In case Bitcoin price surpasses the resistance at $110,500 and ends up closing above it, short liquidations and long momentum could take it to 115K and beyond. In the past, longs with massive leverage at points of compression have caused spikes in volatility. With momentum building, the Bitcoin price may soon break its multi-month consolidation. Notably, the top crypto was trading at $109,398, up 1.9% over the past 7 days as of the latest data. Bitcoin’s market cap stood at $2.17 Trillion, with 24-hour trading volume at $41.75 Billion. Triple Top or Ascending Breakout as BTC Price Compresses Notably, Bitcoin price structure has shaped what some traders describe as a triple top, yet now analysts are pointing…

---

Filed under: News - @ July 10, 2025 4:30 am