Coinbase Sees Surge in Bitcoin Activity as Analysts Predict $140K Target

Bitcoin's price has surged to $109,500, marking a 4% weekly gain and a 2% intraday rise, demonstrating strong momentum despite the reactivation of long-dormant wallets. Analysts are now predicting a potential rise to $140,000, fueled by underlying accumulation strength and a weakening US Dollar Index (DXY), which has plummeted to a 21-year low. Notably, two wallets inactive for over six years moved 8,000 BTC to Coinbase Prime, while Glassnode data revealed 80,000 BTC previously untouched for five years suddenly entering circulation. The market's resilience in shrugging off fears of a dump highlights growing confidence in Bitcoin's bullish trajectory, with Coinbase emerging as a key hub for this renewed activity.

Analysts Predict Bitcoin to Hit $140K With Strong Momentum

Bitcoin's price surged to $109,500, marking a 4% weekly gain and a 2% intraday rise, despite the reactivation of long-dormant wallets. Two wallets inactive for over six years moved 8,000 BTC to Coinbase Prime, while Glassnode data showed 80,000 BTC untouched for five years suddenly circulating. The market shrugged off fears of a dump, signaling underlying accumulation strength.

The US Dollar Index (DXY) plummeted to a 21-year low against its 200-day moving average, historically a bullish signal for risk assets like Bitcoin. Analysts now project a near-term target of $140,000, citing a flag pattern breakout and consolidation NEAR upper resistance. Technical indicators reinforce optimism—the MACD's golden cross and rising histogram, alongside the Awesome Oscillator's momentum confirmation, paint a bullish picture.

Bitcoin Nears All-Time High Amid Coinbase Altcoin Listings and Macroeconomic Shifts

Bitcoin surged toward record levels as Coinbase's announcement of new altcoin listings injected fresh momentum into crypto markets. The rally defied geopolitical headwinds, including revived U.S. tariffs and trade negotiations, suggesting decoupling from traditional risk assets.

Coinbase will list ERC-20 tokens Sky (SKY) and USDS starting July 10, contingent on liquidity conditions. The exchange warned users against cross-network transfers to prevent fund losses. SKY's price spiked 5% post-announcement before stabilizing at $0.0817, demonstrating market sensitivity to exchange support.

The Federal Reserve's policy signals appear to have outweighed macroeconomic uncertainties, with Bitcoin's resilience highlighting growing institutional confidence. Market participants now watch whether the pioneer cryptocurrency can breach its historic peak amid expanding altcoin opportunities.