Bitcoin News Today: Bitcoin Eyes $148,000 Surge as Bull Flag Pattern and 35% Volume Spike Signal Breakout

Bitcoin’s price movement has ignited speculation about an imminent breakout, with technical indicators and market dynamics aligning to suggest a potential surge toward $148,000 or higher. The cryptocurrency is nearing the upper boundary of a bull flag pattern, a continuation formation that historically signals further upward momentum. However, the uncertainty lies in whether the breakout will be robust enough to sustain a new phase of the bull market or if a failure to break could signal the cycle’s decline [1]. Analysts remain divided on the timeline for Bitcoin’s next major move, with debates centering on the traditional 4-year cycle versus a delayed cycle driven by institutional adoption [1].

Recent macroeconomic developments, including renewed optimism in the U.S. stock market and major trade agreements with Japan and the EU, have bolstered broader market sentiment. The S&P 500’s recovery from Trump-era tariff concerns to record highs underscores a favorable environment for risk-on assets like Bitcoin [1]. Short-term price action reinforces this narrative, as Bitcoin’s rejection at the bull flag’s upper boundary has resulted in a shallow pullback to $118,000—a key horizontal support level—before rebounding toward the trendline [1]. Momentum indicators such as Stochastic RSI remain elevated, suggesting continued buying pressure [1].

Technical analysts have also highlighted alternative patterns, including an ascending triangle on the daily timeframe. This formation, defined by converging price highs and a rising trendline, is considered a strong bullish signal. The Stochastic RSI on this chart has begun to slope upward, further supporting the likelihood of positive price action [1]. On the weekly chart, Bitcoin’s consolidation appears tighter than previous patterns, raising expectations for a near-term breakout. While the Stochastic RSI lines are preparing to cross back down, the RSI indicator’s potential bounce off an ascending moving average adds to the bullish case [1].

Institutional activity and on-chain metrics amplify these signals. Bitcoin’s dominance in the cryptocurrency market has risen to 62%, a 23% increase since mid-2024, as capital shifts away from altcoins [3]. A "Cup and Handle" formation—characterized by a U-shaped trough followed by a consolidation phase—has emerged since February’s $80,000 lows, implying a $148,000 target if the pattern holds [1]. Trading volume has surged by 35%, reflecting heightened participation from both retail and institutional investors [3]. On-chain data shows a 45% rise in buyer inflows and a 20% gain over 90 days [3]. Analysts caution, however, that a breakdown below $112,000 could trigger a test of the $104,000 or $90,000 support levels before resuming higher trends [5].

Predictive models offer a cautiously optimistic outlook. Coindoo projects a $160,000 peak by year-end, linking Bitcoin’s trajectory to historical correlations with gold [6]. Finbold estimates a 35% rally in Q4, while Bitwise CIO Matt Hougan suggests the traditional 4-year cycle may extend into 2026 due to sustained institutional interest [8]. These forecasts hinge on Bitcoin maintaining consolidation above $115,000 and navigating key resistance zones.

Geopolitical factors remain a wildcard. Discussions around U.S.-China trade policies in mid-2025 underscore how macroeconomic developments could influence Bitcoin’s trajectory [13]. Despite a brief pullback to $116,000 from $124,000 in July, Bitcoin’s resilience has reinforced investor confidence [14].

The convergence of technical patterns, on-chain strength, and strategic accumulation by major players—including Michael Saylor’s firm—paints a cautiously optimistic picture. However, achieving projected targets will require sustained institutional-retail alignment and the ability to withstand volatility. For now, $148,000 looms as a critical target, with traders closely monitoring volume and price action for confirmation [1].

Sources:

[1] [Cryptodaily.co.uk](https://cryptodaily.co.uk/2025/07/bitcoin-btc-breakout-looms-is-a-massive-surge-coming-soon)

[2] [Finbold](https://finbold.com/analyst-predicts-bitcoin-price-for-q4)

[3] [AInvest](https://www.ainvest.com/news/bitcoin-dominance-nears-64-resistance-23-percentage-points-rise-mid-2024-shift-capital-altcoins-2507/)

[5] [AInvest](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-nears-122k-breakout-82b-inflows-fuel-bullish-momentum-tightening-wedge-pattern-2507/)

[6] [Coindoo](https://coindoo.com/bitcoin-may-be-entering-final-rally-phase-historical-data-shows/)

[8] [Bitwise](https://www.bitwise.com)

[13] [CoinCentral](https://coincentral.com/bitcoin-price-nears-record-high-amid-us-china-tariff-truce-talks/)

[14] [TradingView](https://www.tradingview.com/news/newsbtc:b4a9d9464094b:0-bitcoin-endures-one-of-the-most-intense-bear-weeks-of-this-bull-cycle-details/)