Analyst Predicts Bitcoin Could Surge to $130K If $110K Support Level Remains Intact
Highlights
- Analysts suggest Bitcoin could reach $130,000 if it continues to trade above the key $110,000 support level.
- $82 billion in inflows indicates strong momentum, with potential upside remaining before entering the euphoria zone.
- BTC currently trades below $119,500, but technical indicators continue to point toward a bullish trend.
Analysts are increasingly confident that Bitcoin is in the midst of a bullish breakout. They point to the possibility of a rally toward $130,000, provided the cryptocurrency holds above a critical support level. Additionally, capital inflows remain relatively subdued, suggesting the current rally may still have room to grow before entering what’s known as the euphoria zone — a phase marked by excessive investor optimism.
Bitcoin Poised for $130,000 Surge as Analysts Highlight Key Levels
Bitcoin could climb to $130,000 if it sustains support above $110,000, according to popular market analyst @Ali_charts on X. His outlook is based on data from Glassnode’s MVRV pricing bands, a model often used to assess market tops and bottoms.
The analysis shows Bitcoin is currently trading near the upper +1.5σ deviation level. If the price maintains long-term support above $110,756, it could push toward the +2.0σ range — a region that aligns closely with the $130,000 mark. This setup reflects a strong bullish structure, indicating further potential upside for Bitcoin in the near term.
Crypto analyst Michaël van de Poppe also sees Bitcoin on the verge of a significant breakout. He shared on X that if BTC stays above $116,800, the market could be headed for new all-time highs in the near future. According to his chart, the $110,000 to $112,000 range is a strong accumulation zone, while $119,500 stands out as a crucial resistance level to break for the next upward move.
Another prominent analyst, Peter Brandt, expressed a bullish outlook on Bitcoin’s long-term potential. The veteran trader emphasized that Bitcoin is the true cryptocurrency, while referring to all other coins as ‘posers.’
Subdued Inflows and Consolidation Below $119,500 Suggest Further Bitcoin Gains
Although Bitcoin is currently trading above $118,000, capital inflows remain significantly lower than past peaks. Data shared by Glassnode through Ali on X shows that net crypto inflows over the past 30 days total $82 billion, indicating room for continued growth before the market reaches an overheated state.
In comparison, market inflows reached $135 billion in December when Bitcoin was trading around $96,000. This difference suggests the market has not yet entered the euphoria phase, meaning there is still potential for further gains without overheating.
Bitcoin’s price remains relatively stable. At the time of writing, BTC is priced at $118,147, showing a 24-hour gain of 0.86%. The market capitalization stands at $2.35 trillion, while trading volume has decreased by over 53% to $49 billion.
