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The crypto market is rising again as Bitcoin’s price surged from $113,000 to $117,000 in a single day, currently hovering around $116,000. This fresh breakout hints at the possible start of a new bull rally, with analysts expecting more gains ahead.

As always, market volatility is expected, with price swings and retests of support levels. But the overall trend is clearly bullish. Despite months of market fears like tariffs, war news, and regulatory crackdowns, on-chain data and market charts have consistently supported that a bull market was still intact, and it’s now showing on the price charts.

Not just Bitcoin, but altcoins are waking up too. Ethereum has crossed $2,900, up 14% this week. XRP surged to $2.57, gaining 13%, while Solana rose to $164, up 8% in seven days. This pattern follows the typical bull market cycle where liquidity rotates from Bitcoin into altcoins after BTC makes strong moves.

What’s Next For Bitcoin Price?

In technical terms, Bitcoin has also broken out of major resistance areas on multiple charts, including a long-standing descending channel and a bullish cup-and-handle pattern on the 3-day chart. If this breakout holds, it could set Bitcoin on a path toward $150,000 in the coming months.

According to the analysis, the current market structure is holding up well. Key support is sitting at around $112,100, and as long as Bitcoin stays above this level, the upward momentum is expected to continue. A dip below this price would shift attention to lower support areas, including the $107,300 range.

While a short-term pullback could happen, strong rallies like this tend to surprise on the upside. Bitcoin’s recent climb past its earlier resistance levels signals that the market could still have room to run.

Global liquidity is also on the rise, stock markets like the S&P 500 are hitting new all-time highs, and the U.S. dollar is weakening, a combination historically favorable for crypto.

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Filed under: Bitcoin - @ July 11, 2025 5:21 am