Following a sharp rise, Bitcoin's price has surpassed $109,500, creating expectations for further growth up to $137,000. Market analysis shows the presence of bullish signals.
10x Research Forecasts $135,000
In a new analysis released on July 3, 10x Research set a target price of $135,000 for Bitcoin, based on a breakout above the bull flag pattern. They noted that Bitcoin ETF flows remain strong, crypto exchange balances are decreasing, and political pressure on the Fed is increasing.
Veteran Trader Peter Brandt's Statement
On July 3, trader Peter Brandt mockingly critiqued the crypto community for interpreting an inverse Bitcoin price chart in an X post. Despite the humorous tone, he highlighted a bull flag formation on the daily BTC chart, confirming the potential for a parabolic move. While he did not state a price target, the chart suggested an upward move of at least $140,000.
Predictions by Other Analysts
Analysts like Titan of Crypto also predict a significant upcoming rally in BTC price, with a target of $137,000 based on the bull flag breakout. They point to a bullish MACD crossover on the daily timeframe supporting the rally. Matrixport reported that July has historically favored Bitcoin, setting an initial target of $116,000.
In light of current market conditions and the analyses of various experts, Bitcoin shows promising signs of growth. Expectations for a price target of $137,000 continue to gain traction among both traders and analysts.
