Bitcoin Today: BTC Could Hit All-Time High if It Breaks This Critical Level
- Is Bitcoin Poised for a New All-Time High?
- Why $125,000 Could Be the Next Target
- Technical Analysis: Key Levels to Watch
- What’s Next for Bitcoin?
- FAQs
Bitcoin is consolidating within a bullish flag pattern after a recent surge from $98,000 to $123,000. Analysts suggest that a breakout above $123,000 could propel BTC to new all-time highs, with targets NEAR $125,000 and potentially $140,000. Miner sell-offs and technical indicators are key factors to watch. This article dives into the charts, expert insights, and what’s next for BTC.
Is Bitcoin Poised for a New All-Time High?
Bitcoin (BTC) is currently trading around $119,000, consolidating within a bullish flag formation after a sharp rally from $98,000 to $123,000 over the past few weeks. The cryptocurrency has established strong support above $116,000, and analysts believe a decisive break above the $120,000–$123,000 resistance zone could trigger another explosive move upward.
Why $125,000 Could Be the Next Target
Since 2023, bitcoin has followed a recurring pattern: weeks of consolidation followed by sharp 50% rallies. The recent surge from April’s lows fits this trend. Crypto analyst dman_AG tweeted, "Bitcoin has been doing the same thing since 2023. 50% up → consolidate → 50% up. 🔁 Next consolidation range: $135k–$165k." If history repeats, BTC could soon enter another bullish phase.
According to CryptoQuant, miner sell-offs peaked on July 15, with outflows hitting 16,000 BTC—the highest since April 7. However, selling pressure has since eased. Analyst CryptoMitchX notes that with reduced selling pressure and optimistic U.S. market sentiment (including pro-crypto comments from former President Trump), BTC could rally to $125,000 this week.
Technical Analysis: Key Levels to Watch
The BTC/USDT daily chart shows consolidation between $116,000 and $121,000. The Fair Value Gap (FVG) at $105,000–$110,000 acts as structural support, limiting deeper corrections. Momentum indicators remain positive, with the RSI hovering between 66 and 68—suggesting room for further upside without extreme overbought conditions.
Mr. Wall Street, another analyst, highlighted in a recent tweet: "Last week’s breakout from a descending broadening wedge suggested a minor pullback—which played out as expected. Now, the path to $125,000 looks clearer."
What’s Next for Bitcoin?
If BTC holds above $116,000 and breaks $121,000, the next target is $125,000. Beyond that, the $133,000–$140,000 range becomes viable. However, traders should monitor miner activity and macroeconomic cues, as these could influence short-term volatility.
This article does not constitute investment advice. Always conduct your own research before trading.
FAQs
What is the current Bitcoin price?
As of July 23, 2025, Bitcoin is trading near $119,000, consolidating between $116,000 and $121,000.
Why are miners selling Bitcoin?
Miners sold 16,000 BTC on July 15—likely profit-taking after the recent rally. However, selling pressure has since declined.
What’s the next key resistance level for BTC?
The $120,000–$123,000 zone is critical. A breakout could propel BTC toward $125,000 and beyond.
