Bitcoin’s 230-Day Wait: Is the $160K BTC Breakout Waiting to Happen?

Key Points

1. Bitcoin has been consolidating around $109,000–$112,000 for over 230 days, with analysts predicting a 50% rally post-breakout, potentially reaching $160,000.

2. The U.S. jobs data showed 147,000 new non-farm jobs and a 4.1% unemployment rate, causing Bitcoin to briefly drop from $110,000 as strong labor markets reduce expectations of Fed rate cuts.

3. The July 15th U.S. inflation report is a critical event; if inflation drops to 2.3%–2.4% or lower, it could prompt a Fed rate cut, boosting Bitcoin and other risk assets.

4. Historically, Bitcoin performs well in Q3 of post-halving years, with average returns of around 49%, supporting the case for a strong upward move.

5. Ethereum has shown strength, crossing $2,625, and a Bitcoin breakout above $112,000 could trigger bullish targets of $150,000–$160,000 short-term and $250,000 by year-end.