Bitcoin News Today: Bitcoin Analysts Predict $130,000 Surge If $110K Support Holds

Bitcoin’s price trajectory has drawn renewed attention from analysts, with forecasts suggesting the cryptocurrency could surge toward $130,000 if key technical levels are maintained. The predictions hinge on Bitcoin’s ability to hold above critical support zones and navigate current market dynamics. Analysts emphasize that sustained institutional engagement and ETF activity are strengthening Bitcoin’s position as a strategic asset, though volatility remains a factor.

The $130,000 target is contingent on Bitcoin maintaining support above $110,756. According to X-based trader @Ali_charts, BTC’s current price near $118,000 is approaching the upper +1.5sigma deviation on Glassnode’s MVRV pricing bands. If the $110K level holds, the price could target the +2.0 sigma level, approximately $130,000 [1]. Similarly, Michaël van de Poppe noted that a sustained close above $116,800 could trigger a bullish breakout, with $119,500 identified as a key resistance level to test for further gains [2]. Peter Brandt, another prominent analyst, highlighted Bitcoin’s dominance in the crypto market, framing it as a long-term store of value [3].

Institutional activity continues to bolster Bitcoin’s prospects. ETFs are absorbing excess supply beyond miner production, a trend reinforcing bullish market sentiment. Raoul Pal, founder of Real Vision, stated, “Supply squeeze continues as ETFs suck up more BTC than miners produce. Macro tailwinds, US election cycle, and global liquidity all pointing to higher highs. Expecting volatility, but the uptrend remains strong [1].” Michael Saylor also emphasized the growing strength of institutional involvement, linking it to macroeconomic factors and asset accumulation [1].

Despite Bitcoin trading below $119,500, a 24-hour price increase of 0.86% has been recorded, with a market cap of $2.35 trillion. However, net crypto inflows over the past 30 days stand at $82 billion, significantly lower than the $135 billion seen in December 2024 when BTC was at $96,000 [4]. Analysts suggest the market has not yet entered the “euphoria zone,” indicating room for growth before reaching overheated conditions [5].

The potential surge underscores Bitcoin’s evolving role as a digital store of value. Historical analysis shows surges post-monetary easing, and ETF adoption has reinforced its status as a digital gold equivalent. While the forecasts are speculative, they highlight Bitcoin’s potential within its current environment. Analysts caution that volatility remains a concern, but institutional dedication appears to fortify investor confidence and market stability [1].

Sources:

[1] [Analyst Predicts Bitcoin May Hit $130K if $110K Support Holds](https://coingape.com/analyst-predicts-bitcoin-may-hit-130k-if-110k-support-holds/)

[2] [Bitcoin Poised for $130,000 Surge as Analysts Highlight Key Levels](https://coingape.com/analyst-predicts-bitcoin-may-hit-130k-if-110k-support-holds/)

[3] [Bitcoin’s Current Price Action Remains Stable](https://coingape.com/analyst-predicts-bitcoin-may-hit-130k-if-110k-support-holds/)

[4] [Subdued Inflows and Consolidation Below $119,500 Hint at Further Bitcoin Upside](https://coingape.com/analyst-predicts-bitcoin-may-hit-130k-if-110k-support-holds/)

[5] [Bitcoin’s Surges Past $123,000 Signal Historic Rally](https://economictimes.indiatimes.com/topic/bull-run-bitcoin)