Bitcoin News Today: Bitcoin Approaches $121,000 Resistance Level Amid Bullish Signals

Bitcoin is currently approaching a critical resistance level of $121,000, with several bullish signals and significant ETF inflows suggesting a potential rally toward $132,000. The cryptocurrency's price action is testing this pivotal level, which has historically capped upward momentum. A daily close above $121,000 could validate a breakout, potentially triggering a rally toward $132,000. This resistance level has served as a significant barrier since early 2025, with Bitcoin forming a pattern of higher highs and higher lows, indicative of a sustained bullish trend. The asset’s ability to maintain price levels above its 50-day and 100-day moving averages further supports this optimistic outlook.

Analysis from CryptoQuant reveals that unrealized profits among short-term Bitcoin holders remain low at approximately 15%, well below the 35% threshold historically associated with widespread profit-taking. This metric suggests that many investors have not yet realized gains, leaving ample room for price appreciation before significant selling pressure emerges. Such a scenario could allow Bitcoin to advance by 20–25%, reinforcing the potential for a sustained upward trajectory in the near term.

Technical indicators are aligning in favor of Bitcoin’s continued ascent. Notably, chart patterns such as the cup-and-handle and bull flag formations have been identified by traders, both of which are classic continuation signals. The projected price targets from these patterns extend as high as $144,500, underscoring the strength of the current bullish momentum. Institutional involvement is a critical factor underpinning this momentum. Recent inflows exceeding $15 billion into U.S. spot Bitcoin ETFs demonstrate a shift toward institutional dominance in the market. This influx of capital not only provides liquidity but also adds a layer of market stability, reducing volatility typically driven by retail traders.

Blockchain analytics platforms have detected substantial Bitcoin acquisitions by whales and institutional funds, signaling confidence in the asset’s near-term prospects. Veteran trader Peter Brandt projects that if current momentum persists, Bitcoin could reach between $125,000 and $150,000 by late summer or early fall 2025. This forecast aligns with the observed technical patterns and ETF inflow data, suggesting a robust foundation for continued price appreciation.

Bitcoin’s approach to the $121,000 resistance level, combined with supportive technical patterns and significant institutional inflows, positions the cryptocurrency for a potential rally toward $132,000 and beyond. Low unrealized profits among short-term holders further indicate that the market may sustain upward momentum before encountering major selling pressure. Investors and traders should monitor these key levels and institutional activity closely, as they will likely dictate Bitcoin’s trajectory in the coming months.