BTC Price Prediction: $120K Target in Sight as Bulls Battle Resistance

#BTC

• Technical Breakout: A sustained move above $111K could accelerate gains toward $120K.
• Institutional Activity: Whale accumulation and mining expansion signal long-term confidence.
• Macro Tailwinds: Rare 9% global money supply growth historically precedes BTC rallies.

BTC Price Prediction

BTC Technical Analysis: Bullish Indicators Amid Consolidation

BTC is currently trading at $108,094.16, slightly above its 20-day moving average of $106,622.58, indicating a bullish trend. The MACD shows a bearish crossover but with diminishing momentum (-973.17), suggesting potential reversal. Bollinger Bands reveal price hovering NEAR the upper band ($111,187.03), signaling strong upward pressure. According to BTCC analyst John, 'The technical setup favors bulls if BTC holds above $106.6K, with a breakout above $111K likely triggering a new rally.'

Market Sentiment: Mixed Signals as BTC Nears All-Time High

News headlines reflect a tug-of-war between institutional accumulation (Coinbase Premium, $4.2B offering) and short-term bearish bets. Political risks (Trump's trade war) and whale movements (80K BTC transfer) add volatility. BTCC's John notes, 'Fundamentals like global money supply growth (9%) and mining expansion (CleanSpark 50 EH/s) support long-term bullishness, but traders should expect choppy price action near $110K resistance.'

Factors Influencing BTC’s Price

Bitcoin Traders Bet Against Rally as Price Consolidates Near All-Time High

Bitcoin's price action remains constrained below its record peak, oscillating between $100,000 and $110,000 despite intermittent upward momentum. The asset briefly touched $110,307 before settling at $108,311, marking a marginal 0.3% dip over 24 hours.

Market sentiment appears divided as Binance traders increasingly short BTC despite its elevated valuation. CryptoQuant data reveals declining funding rates on the exchange—a telltale sign of Leveraged bearish bets. "This reflects skepticism about the rally's longevity," notes analyst BorisVest, highlighting the tension between spot accumulation and derivatives pessimism.

Senate Revives Crypto Market Structure Efforts as House Prepares for Policy Votes

The U.S. Senate is taking the lead on digital asset regulation as the House enters recess. On July 10, the Senate Banking Committee will hold its first hearing focused on crypto market structure, with a draft bill expected this week. The legislation aims to create a comprehensive framework for the $3 trillion cryptocurrency market, incorporating elements from the 2023 Lummis-Gillibrand Act and the House's CLARITY Act.

Meanwhile, the House is preparing to vote on key crypto policies—including the GENIUS, CLARITY, and Anti-CBDC bills—when it reconvenes. The political landscape could shift further with former President Trump's crypto policy report, due July 22, which may propose Bitcoin reserve strategies and banking access rules.

Bitcoin Faces Resistance Near $110K as Bulls Struggle to Maintain Momentum

Bitcoin's rally stalled below the $110,000 mark, with prices retreating after failing to breach this psychological barrier. The cryptocurrency now hovers below $108,500, testing key support levels that could determine its near-term trajectory.

Technical indicators show weakening momentum, with BTC breaking below a crucial bullish trendline at $108,200 on the hourly chart. Market participants watch the $106,500 support zone closely—a hold above this level could pave the way for another upward attempt.

The $108,500 level emerges as critical resistance, coinciding with the 50% Fibonacci retracement of the recent pullback. A decisive close above this threshold might reinvigorate bullish sentiment, while failure could see extended consolidation.

Bitcoin Institutional Pressure Builds as Coinbase Premium Signals US Whale Accumulation

Bitcoin's struggle to breach its all-time high NEAR $112,000 reveals mounting tension between institutional accumulation and bearish speculation. The cryptocurrency has tested this resistance level repeatedly since May, with bulls defending the $105K support zone while bears anticipate a potential correction.

The Coinbase Premium Gap—the price differential between Coinbase Pro and Binance—has emerged as a critical indicator of institutional activity. Unlike ETF flows that reflect broader investor participation, Coinbase Pro's institutional clientele makes this metric a pure gauge of professional demand. The widening premium suggests strong US-based buying pressure not fully captured by ETF inflows.

Darkfost, a prominent analyst, notes this divergence signals underlying strength in spot market demand. Persistent institutional accumulation could finally propel bitcoin into price discovery territory, though failure to break resistance risks triggering a bearish reversal.

Strategy Pauses Bitcoin Buying Spree, Plans $4.2B Offering to Resume Accumulation

Strategy halted its three-month Bitcoin acquisition streak last week, marking the first pause since April 14. The firm had purchased 69,000 BTC worth $7 billion during this period, bringing its total holdings to 597,325 BTC—equivalent to 2.8% of Bitcoin's total supply.

To reignite its accumulation strategy, Strategy announced a $4.2 billion at-the-market offering of its Series A Perpetual Stride Preferred Stock (STRD). The proceeds will be directed toward additional Bitcoin purchases, despite recent softening in spot BTC demand across markets.

The MOVE comes amid mixed signals for Bitcoin's institutional adoption. While treasury allocations and ETF inflows continue, overall spot demand has shown signs of weakening. Strategy's aggressive positioning suggests long-term conviction even during periods of muted retail interest.

Bitcoin Poised for Major Rally as Global Money Supply Hits Rare 9% Growth

Global money supply growth has surged to 9% year-over-year, a rare signal that historically precedes massive Bitcoin rallies. Capriole Investments founder Charles Edwards highlights this trend, noting similar conditions in 2017 and 2020 preceded gains of 663%, 136%, and 580% respectively.

Central banks are aggressively expanding fiat liquidity, creating conditions ripe for cryptocurrency appreciation. The metric tracks USD-denominated money supply across major economies, with current expansion rates matching previous cycle triggers.

Historical patterns suggest an average 460% upside potential for Bitcoin when this signal appears. The cryptocurrency market appears to be entering another phase where excess liquidity flows disproportionately into digital assets.

BitFuFu Achieves Record Bitcoin Production and Hashrate Growth in June

BitFuFu, the Singapore-based Bitcoin mining firm, reported a record-breaking month in June 2025, mining 445 BTC—an 11.3% increase from May. The company's aggressive expansion across five continents has bolstered its global footprint, with total hashrate under management rising 6.2% to 36.2 EH/s. Proprietary operations contributed 3.8 EH/s, while third-party hosting and cloud mining clients accounted for 32.4 EH/s.

Cloud mining remains the cornerstone of BitFuFu's business, generating 387 BTC in June. Self-mining output surged 34.9% to 58 BTC, reflecting operational efficiency gains. The company added 83 BTC to its treasury, bringing total holdings to 1,792 BTC. CEO LEO Lu hailed June as the firm's "most productive month," citing infrastructure milestones and a growing user base of 623,114 registered cloud mining clients.

BitFuFu's average fleet efficiency stands at 20.1 J/Th, a critical metric in an energy-sensitive market. The company's scaling strategy mirrors broader industry trends—maximizing hashrate and optimizing operations ahead of future Bitcoin halving events.

CleanSpark Surpasses 50 EH/s Mining Capacity, Overtakes Tesla in Bitcoin Holdings

CleanSpark (NASDAQ: CLSK) has cemented its position as a dominant force in U.S. Bitcoin mining, achieving 50 exahashes per second (EH/s) in hashrate capacity by June 2025. The Las Vegas-based company's aggressive expansion across four states and fleet efficiency upgrades—now averaging 16.15 joules per terahash—fueled a record 685 BTC mined in June alone. Year-to-date production hit 3,968 self-mined BTC, swelling its treasury to 12,608 BTC and eclipsing Tesla's holdings.

Strategic power contracts for 179 additional megawatts position CleanSpark to scale beyond 987 MW total capacity, enabling over 10 EH/s of incremental growth. The firm demonstrated operational savvy by selling 578.51 BTC at $105,860 per coin—a premium to June's market average—netting $61.2 million through optimized spot sales and derivatives strategies.

Bitcoin Holds Above $100K Amid Declining Volume as Whales Accumulate

Bitcoin's price stability above $100,000 contrasts sharply with a $36 billion drop in spot and futures trading volume, signaling potential market inflection. The cryptocurrency traded at $108,000, testing resistance at $110,000, while Glassnode data revealed annual lows in trading activity—$5.02 billion spot and $31.2 billion futures volumes.

Divergence between price and volume suggests weakening momentum, possibly driven by seasonal factors or profit-taking. Historical patterns indicate such conditions often precede pullbacks, though sustained rallies typically require volume confirmation. Notably, on-chain data shows retail investors transferring BTC to larger wallets, indicating strategic accumulation by high-net-worth players during the lull.

Who Moved 80,000 BTC? Bitcoin On-Chain Sleuth Drops Bombshell Exposé

Bitcoin on-chain investigator TruthLabs has unveiled a theory identifying the entity behind the sudden movement of 80,000 BTC ($8.72 billion). The transfer, originating from dormant wallets inactive for 14 years, sparked market anxiety due to its potential selling pressure.

TruthLabs suggests Christian, Olivier Janssens—son-in-law of Italy's last monarch—may be the whale. Historical data indicates Janssens mined Bitcoin within a month of its 2009 launch. The coins were initially accumulated at $0.78 per BTC and later transferred from defunct exchange Mt. Gox.

The investigation took a geopolitical turn with claims the transaction preceded weather modification activity near a Christian camp. Rainmaker CEO Augustus Doricko's remarks about weaponized weather patterns were cited as contextual evidence.

Coinbase Director Conor Grogan offered additional analysis, though details remain undisclosed. The event underscores Bitcoin's maturation as dormant whale movements now carry systemic market implications.

Bitcoin Tumbles Below $108K as Trump's Trade War Threats Spook Crypto Markets

Cryptocurrency markets faced renewed volatility as former President Donald Trump's latest trade war rhetoric sent shockwaves through risk assets. Bitcoin, which had been consolidating near yearly highs, plunged 5% to $107,000 amid a broad market retreat.

The selloff accelerated after TRUMP announced sweeping tariff proposals targeting Asian trading partners, invoking emergency economic powers to justify 25-40% duties on goods from Japan, South Korea, and Southeast Asian nations. August 1 looms as a critical deadline for potential implementation.

Market participants interpreted the developments as reigniting 2024's risk-off playbook, when similar trade tensions catalyzed capital flight from speculative assets. The crypto sector's high correlation with tech stocks amplified the downward pressure.

How High Will BTC Price Go?

Based on current technicals and market sentiment, BTC could rally toward $120K if it breaks the $111K resistance. Key factors include:

John cautions: 'Watch for a close above $111K to confirm the next leg up.'