Bitcoin News Today: Bitcoin Surges Past $122,000 Golden Ratio Resistance Amid Bullish Momentum

Bitcoin is surging above the $122,000 level, a critical Fibonacci 1.618 extension often referred to as the "golden ratio," sparking optimism among traders about a potential breakout. This technical threshold is widely viewed as a key indicator of continued upward momentum, with some analysts suggesting that a sustained move above this level could lead to a test of $140,000. Such a move would align with early-year projections and reinforce the possibility of a bullish trend extending through the end of the year [1].

Technical indicators support the current positive momentum. The recent price action has positioned Bitcoin at a historically significant level, where a confirmed breakout could act as a catalyst for a new bullish phase. A market analyst noted that if Bitcoin can establish and maintain support above this level, it might signal the start of a longer-term upward trajectory [1].

The options market further underscores this bullish sentiment. Recent data shows a growing preference for call options, suggesting traders are increasingly anticipating higher prices. However, the upcoming release of the Consumer Price Index (CPI) report remains a key event to watch. If the data aligns with expectations, it could support the case for the Federal Reserve to continue or accelerate rate cuts, a scenario historically favorable to risk assets like Bitcoin [1].

Ethereum and other major cryptocurrencies are also experiencing gains, fueled in part by robust inflows into spot ETFs and regulatory clarity for certain tokens. For instance, XRP has surpassed $3.25, reflecting heightened institutional interest, while smaller-cap tokens like Zora have seen significant intraday gains following improved liquidity from derivative listings. These developments indicate a broader improvement in risk appetite across the crypto market [1].

Meanwhile, the DeFi sector is being stirred by a proposed $110 million merger between LayerZero and Stargate. Under the proposal, Stargate’s STG token would be converted into ZRO, centralizing governance and redirecting revenue to the LayerZero ecosystem. While some community members support the move as a means to enhance long-term value, others express concerns over the potential loss of existing staking rewards. A decision is expected in the coming weeks, which could influence future cross-protocol consolidations [1].

Looking ahead, Bitcoin price prediction models present a mixed outlook. A milder-than-expected CPI reading could trigger a short-term rally toward the $123,000 level, encouraging momentum-driven buying. Conversely, a hotter-than-anticipated report may lead to profit-taking and a temporary pullback. Despite this uncertainty, seasoned traders emphasize the importance of a long-term perspective, especially given the more favorable macroeconomic conditions compared to the previous year [1].

A senior trader summarized the current sentiment: “The next few weeks might be critical for Bitcoin. If it overcomes this technical obstacle and inflation does not surprise on the upside, the way is clear for a robust Q4 surge” [1].

The ongoing rally and the convergence of technical, macroeconomic, and market adoption factors suggest the coming weeks could be pivotal in defining Bitcoin’s trajectory for the remainder of 2025. While no price prediction is foolproof, the current setup highlights the potential for significant price movement.

[1] Bitcoin Bulls Push Above $122K Golden Ratio Resistance with CPI Data in Focus. (https://thebitjournal.com/bitcoin-bulls-push-above-122k-golden-ratio-resistance/)