Bitcoin Targets $135,000 as Institutional Holdings Surge 114%

Katie Stockton, the founder of Fairlead Strategies, has set a price target of $135,000 for Bitcoin in the intermediate term. This prediction is based on the current market trends, which indicate a continuing bull market characterized by higher highs and higher lows. Stockton's analysis suggests that Bitcoin could reach this target before entering a correction phase. The prediction is supported by strong institutional participation, with over 265 companies now holding Bitcoin, up from just 124 in the past month. Major financial institutions are increasingly adding to their crypto exposures, which could further drive Bitcoin's adoption.

The market has responded positively to these trends, with surging prices not just for Bitcoin but also for other major cryptocurrencies like Ether and XRP. The total crypto market cap now stands at $2.4 trillion, highlighting Bitcoin’s substantial market position. The increased institutional holdings suggest a heightened confidence in Bitcoin's long-term value. However, caution remains due to minor on-chain early warnings, though retail investor involvement continues to be low.

Analysts use past performance in technical analysis to bolster predictions, drawing on measured moves from previous breakouts. Historical data indicates potential for Bitcoin to experience significant gains if trends persist. The current pattern suggests that the $135,000 target is well within reach, but analysts also warn of a possible corrective phase once Bitcoin hits this level. Technical indicators suggest that Bitcoin is still far from a macro top, making the $135,000 – $140,000 range a plausible interim target.

Looking ahead, if Bitcoin sustains its position above $120,000, it could potentially rise to the $135,000–$140,000 range. This bullish momentum is fueled by growing corporate and retail enthusiasm, as well as institutional participation. On-chain metrics show that most of the activity is coming from KYC-verified wallets, likely institutions or large, regulated players. The number of non-KYC wallets hasn't changed much, indicating that this isn't just a retail frenzy. The total number of tracked entities hit a plateau near 32, suggesting that big players have already entered the market. If more don’t join in, a consolidation phase might be around the corner. However, for now, strong hands are still holding.

Looking at UTXO data, wallets holding 1,000 BTC or more haven’t flinched. Even as BTC price surged, those whales stayed quiet, with no dumping or sudden moves. This is usually a good sign for trend strength. Meanwhile, whale activity on exchanges has stayed pretty tame. The Exchange Whale Ratio spiked early in the week but dropped off as price climbed. Even the most recent uptick didn’t faze the market, as buyers soaked it all up. Demand is clearly there, and volume is rising right along with Bitcoin price.

On the daily chart, BTC is in a textbook uptrend. Price is above every major moving average, and previous resistance levels have turned into support. The $110,500 level, once a big barrier, is now acting as a solid floor. If you’re watching Fib levels, the chart’s playing out almost perfectly. The 0.236 retracement at $110,000 just flipped to support, and if we see a deeper pullback, $105K and $103K are the next likely bounce zones.

Zooming into the 4-hour chart, BTC price has been riding a clean trendline since late June. Each breakout has been followed by a quick pause or consolidation, then a continuation, a pattern that’s repeated several times now. Still, a few early warning signs are popping up. RSI is sitting above 80, that’s deep in overbought territory. While strong trends can stay overbought for a while, it often means a cooldown is coming. If Bitcoin price stalls here and volume fades, a dip toward $110K or even $105K wouldn’t be surprising.

There’s no doubt Bitcoin price is in a strong uptrend, but it’s bumping into a tough zone right now. That $121,000-$125,000 range has been rejected before, and it won’t be easy to break without a solid push. If bulls can break through and hold above $125K, things could move fast, with $135,000 and $140,000 being the next big zones on the radar. But if the rally runs out of steam here, $110,500 is the first spot to watch for support. Below that, $105,000 and the $100,000–$103,000 zone come back into play. More eyes are also watching ETF inflows and TradFi participation. If institutions keep scaling in, and no major macro shock hits, this breakout could stretch into new territory by the end of Q3. One thing to keep an eye on: if we do get a sharp dip, how quickly buyers show up. In past corrections, Bitcoin price didn’t stay down for long. That could be the case again, especially if ETF inflows or big institutional buys kick back in. A break below all those levels would flip the setup from bullish to more neutral, or even bearish, short-term. So far, though, all signs point up, volume is strong, structure is solid, and big players aren’t cashing out. The real test is happening now, and how Bitcoin reacts around $125,000, which will set the tone for what comes next.