Bitcoin (BTC) Price Prediction for July 12
2025-07-11 08:42:20
Main Idea
Bitcoin (BTC) has broken through upper resistance to reach $118,000, driven by ETF inflows, rate cuts, and strong technical indicators, with potential targets around $120,000 and beyond.
Key Points
1. BTC broke out of a trading channel between $100,000 and $111,000, with strong volume and bullish technical signals.
2. The price surge is supported by ETF inflows, on-chain activity, and institutional buying interest ahead of U.S. Federal Reserve rate cuts.
3. Derivatives metrics show a strong long bias, with open interest up 5.57% and 24-hour volume up 62.43%, totaling over $157 billion.
4. Technical indicators like Bollinger Bands, RSI, and MACD confirm strong bullish momentum, with BTC trading above key support levels.
5. Short-term outlook remains bullish if BTC stays above $116,000–$116,500, with targets at $120,000, $122,800, and $125,000.
Description
After spending nearly eight weeks inside a range-bound structure, Bitcoin price today has blasted through upper resistance to hit $118,000, marking its highest level since early April. The breakout comes as ETF inflows resume and institutional interest picks up, supported by the prospect of Federal Reserve rate cuts in Q3. Technicals now show BTC entering a high-momentum phase, with potential targets around $120,000 and beyond. What’s Happening With Bitcoin’s Price? BTC price dynamics (Source: T...
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