$BTC Defies Summer Slump as Analysts Point to $120K
The post $BTC Defies Summer Slump as Analysts Point to $120K appeared on BitcoinEthereumNews.com.
Bitcoin has officially entered price discovery, marking a historic moment in the crypto market. With no previous resistance levels to measure against, the asset is now trading at all-time highs, fueling widespread excitement and speculation. Surpassing initial targets of $112,000 to $114,000, Bitcoin has pushed beyond expectations, hitting an intraday high of approximately $118,700. What makes this rally particularly notable is its timing — occurring during the summer months, a period historically associated with slower market activity. This bullish move has defied seasonal norms, signaling a fundamental shift in investor behavior and institutional involvement. As capital continues to pour into the crypto space, many investors are reallocating funds from traditional equities into Bitcoin, viewing it as a hedge against inflation and a store of long-term value. Some are even going as far as liquidating shares and leveraging personal assets to increase their exposure. Source – Jacob Crypto Bury on YouTube Bitcoin Price Prediction The technical outlook for $BTC remains highly bullish, with analysts pointing to the 1.618 Fibonacci extension level as the next key milestone, indicating a potential surge to $120,000 in the near term. On a broader horizon, projections are even more ambitious, with some calling for a cycle peak around $160,000. Current momentum is being fueled not only by spot price action but also by broader macro factors, including increased institutional buying and growing adoption of Bitcoin ETFs. Even with the daily Relative Strength Index (RSI) showing overbought conditions, sentiment remains overwhelmingly positive. While a correction may eventually materialize, short-term targets of $120,000 to $121,000 appear increasingly plausible. Looking ahead, long-term holders and market veterans expect the next bear market bottom to form somewhere between $40,000 and $50,000 — a significant floor considering current prices. For now, however, $BTC continues to act as the bellwether of a full-blown…
Filed under: News - @ July 12, 2025 2:26 pm