Bitcoin Eyes Potential Rally Toward $130K Amid Bull Flag Breakout and Neutral Market Sentiment

Key Points

1. Bitcoin surged nearly $10,000 within hours, breaking above $118,000 and maintaining momentum without retracing to previous support levels like $92,000.

2. Neutral sentiment and healthy funding rates suggest a sustainable rally, with short-term targets near $122,500 and mid-term projections toward $130,000.

3. Upcoming CPI data could further influence Bitcoin's trajectory, with lower-than-expected inflation potentially boosting risk assets like Bitcoin.

4. MicroStrategy purchased 4,225 Bitcoins between July 7-13 at an average price of $111,827, totaling $472.5 million.

5. Bitcoin's resilience and bullish trend are underscored by its ability to hold above key levels like $116,000.