Fun

Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

News Feed - 2025-07-10 08:07:37

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. On Wednesday afternoon, Bitcoin (BTC) surged to a remarkable all-time high (ATH) of $112,022, breaking free from its previous consolidation phase and lower resistance levels.  Bitcoin Rally Faces Critical Test


John Glover, the chief investment officer at crypto lending platform Ledn and a former managing director at Barclays Investment Bank, notedthat the recent rally appears to be a retest of the previous all-time high set on May 22, which encountered selling pressure. 


As some investors opted to take profits, notable publicly traded companies, including Trump Media & Technology Group and GameStop, have announced their intentions to purchase Bitcoin to bolster their treasuries.  Related Reading Analyst Predicts 50% “Moonshot” For XRP Price If This Line Breaks 9 hours ago


Glover emphasized that the competition among these companies to accumulate Bitcoin could significantly impact market dynamics, given that the cryptocurrency’s popularity among publicly traded companies appears to be growing.


However, the sustainability of Bitcoin’s rally largely hinges on macroeconomic conditions and developments in trade negotiations. Sid Powell, CEO of crypto asset-management firm Maple, highlighted that any setbacks in trade discussions before President Donald Trump’s August 1 deadline could pose challenges for Bitcoin’s price movement. 


Conversely, if trade negotiations progress and inflation continues to ease, the Federal Reserve (Fed) might consider cutting interest rates, which could further support Bitcoin’s upward trajectory. Scenarios For A Potential Breakout Toward $130,000


Market expert Doctor Profit recently took to social media, declaringthat Bitcoin’s rally is just beginning. He confidently stated, “THE PARTY IS NOT OVER YET,” predicting a potential new all-time high soon. 


His analysisindicates a target range of $120,000 to $130,000 for this cycle. According to Doctor Profit, two potential scenarios could pave the way for this breakout. 


The first involves Bitcoin reaching the $113,000 to $114,000 range, followed by a correction to the $92,000 to $93,000 level, which aligns with a major liquidity pool and the CME gap. A rebound from this lower range could set the stage for a rapid ascent toward the $120,000 mark. Related Reading Pundit Says XRP’s Rise To $1,000 Will Happen A Lot Sooner Than Anticipated 5 hours ago


The second, more aggressive scenario suggests that Bitcoin could break through the $113,000 to $114,000 barrier and continue its upward momentum without revisiting lower liquidity levels. 


In either case, the $113,000 to $114,000 range is critical, as the market’s reaction to this level will significantly influence the speed and direction of Bitcoin’s next leg. The daily chart shows BTC’s price surge on Wednesday. Source: BTCUSDT on TradingView.com


When writing, BTC has retraced back toward $111,422, attempting to make this level its new support floor for further price appreciation. 


Featured image from DALL-E, chart from TradingView.com 

News Feed

Savannah Fortis11 hours ago​​Hong Kong authorities say 145 victims, $18.9M lost in Hounax scamAuthorities in Hong Kong confirmed 145 users were scammed on the unlicensed crypto exchange Hounax, resulting in $18.9 mil
Cryptocurrencies a ‘Good Alternative to Traditional Settlement Processes’ — Study
Cryptocurrencies a "Good Alternative to Traditional Settlement Processes" — Study Cryptocurrencies can be a good alternative to conventional settlement processes because they are
Blockchain to Become More Relevant in Payments This Year, Sberbank Exec Says
Blockchain to Become More Relevant in Payments This Year, Sberbank Exec Says Blockchain technology can help solve current issues with settlements, according to the deputy chief exe
Central Bank of Venezuela Announces ‘Digital Bolivar’ Redenomination Plan
Central Bank of Venezuela Announces "Digital Bolivar" Redenomination Plan The Central Bank of Venezuela announced the new redenomination plan for its fiat curren
Digital Token Issued In Russia to Facilitate Investments in Palladium
Digital Token Issued In Russia to Facilitate Investments in Palladium Transactions with digital assets backed by precious metals are beginning in Russia with the launch of a token
Solana struggles to recapture $200, but DApp and derivatives markets remain bullish
Marcel Pechman3 hours agoSolana struggles to recapture $200, but DApp and derivatives markets remain bullishSOL price struggles to rally above $200, but on-chain and derivatives metrics point to a healthy market.1142 Tot
Thailand Plans to Tighten Crypto Oversight, Giving Central Bank More Powers to Regulate Digital Assets
Thailand Plans to Tighten Crypto Oversight, Giving Central Bank More Powers to Regulate Digital Assets Thailand is reportedly preparing to amend its law on digital assets to tighte
William Suberg9 hours ago$48K is now ‘reasonable’ BTC price target — DecenTrader’s FilbfilbBitcoin is bouncing back, and despite the risk of a pre-halving dip, BTC price action is on track for upside, Filbfilb sa
Bitcoin price loses $60K, but a maturing Wyckoff signal gives hope
Yashu Gola8 hours agoBitcoin price loses $60K, but a maturing Wyckoff signal gives hopeThe bullish outlook appears despite the ongoing Bitcoin sell-off, which is being led by the growing risks of a recession in the Unite
David Attlee48 minutes agoCentral Bank of Nigeria: eNaira no threat to financial stabilityNigeria’s central bank issued a press release in response to “news items on some media platforms,” suggesting that the eNair
Crypto losses from hacks and scams soared by 113% in Q2 2024 to reach $572M
Christopher Roark11 hours agoCrypto losses from hacks and scams soared by 113% in Q2 2024 to reach $572MLosses from scams and exploits increased in the second quarter as centralized exchanges lost millions, reversing a p
Ana Paula Pereira2 hours agoBinance.US exchange volume slumps amidst crisisOn Sep. 16, exchange volume stood at $5.09 million on Binance.US amidst executive departures and ongoing regulatory scrutiny.686 Total views42 To