Bitcoin Smashes $123K All-Time High – Is $130K the Next Stop?
Bitcoin just bulldozed through another psychological barrier—flipping $123,000 into support like it's Monopoly money. Traders now eye $130K as the next liquidity magnet.
Bullish? Obviously. Sustainable? Wall Street's already drafting the 'this time it's different' thinkpieces.
Key levels to watch: If BTC holds above $120K this week, the runway clears for another leg up. Break $130K, and even goldbugs might start fomo-ing into memecoins.
Meanwhile, traditional finance still can't decide if crypto is 'digital gold' or a 'speculative asset'—classic hedge fund Schrödinger's cat.
Bitcoin has touched a new all-time high of $123,000. Over the past seven days, the market has grown by 1.4%, and in the last 24 hours alone, it surged by 3.7%. Analysts now expect Bitcoin to consolidate within the $120,000 to $130,000 range in the short term.
How Has Bitcoin Performed So Far in 2025?
Bitcoin had a negative return of -11.7% in Q1 2025, despite January’s 9.54% gain. However, Q2 saw a strong rebound, with April up 14.2%, May up 11.1%, and June up 2.4%, resulting in a quarterly return of +29.9%.
At the start of this quarter, bitcoin was priced at $105,653.37 and has since risen by around 14% to $122,146. Earlier today, it briefly peaked at $123,000. The rally is supported by a pro-crypto U.S. regime, expectations of lower interest rates, increased government spending, and a strong stock market.
Bitcoin Price Prediction for Next 15 Days
Analysts expect Bitcoin to move between $120,000 and $130,000. Market makers are reportedly buying closer to $120K and selling NEAR $130K, which limits large price swings.
Deribit data shows significant open interest for call options at $115,000 and $120,000 for the July 25 expiry. For later expirations like August 1 and August 29, concentrations appear at $140,000 and $150,000, reinforcing the range-bound activity.
Bitcoin’s technical indicators continue to support a bullish trend. The daily RSI stands at 78.17. The 50-day moving average is $107,670.34, the 100-day is at $101,314.77, and the 200-day is $97,133.19. BTC remains well above all key levels, with no signs of divergence.
Will BTC Price See Minor Pullback?
The Bitcoin Volatility Index (DVOL) is currently at 39.61. Low volatility during a price rally is unusual and suggests a potential increase. DVOL is bottoming, which may lead to short-term pullbacks or sideways action.
The U.S. Dollar Index (DXY) was at 96.64 at the start of the month and has risen by 1.22%. This gain, supported by a breakout and energy price risks, could temporarily cap Bitcoin’s upside.
Conclusion
Bitcoin remains in a strong uptrend despite the likelihood of short-term consolidation between $120K and $130K. Favorable macro conditions and bullish technical indicators suggest that the broader trend is intact.
