At the beginning of July, Bitcoin price strongly broke through the 110,000 dollar mark, and market sentiment continued to soar. Analysts generally believe that in the next 1-2 weeks, Bitcoin may experience a decisive breakout, targeting the range of 120,000 to 162,000 dollars, setting a new historical high.
The technical indicators have issued a strong breakout signal
Bitcoin has recently shown a typical bullish pattern. CryptoWZRD points out that Bitcoin has successfully broken through the “descending wedge” structure, confirming a bullish reversal pattern. The price is currently stable above the support level of 105,500 dollars, and if the daily close is above the key resistance level of 110,400 dollars, it will open the way to 120,000 dollars.
On a larger time frame, the “amplifier pattern” discovered by Bitcoinsensus suggests a stronger upward potential. If the upper trend line of this pattern is broken, the target will point to $123,000. The 50-day moving average has continued to provide support since March 2025, resonating with the bullish structure.
Standard Chartered Bank predicted in its February report that Bitcoin would hit between $100,000 and $102,500 after digesting macro headwinds such as tariffs. This prediction has largely come to fruition, and the market is now looking toward higher targets.
Institutional Funds Build Long-term Support
On-chain activities and capital flows indicate that institutions are accelerating their entry:
- “Institutional Phase” Begins: Analyst Crypto Patel points out that Bitcoin has completed its accumulation phase from 2022 to early 2024 and has entered a growth phase led by institutions, similar to the early stages of the bull market in 2020-2021. Two concentrated inflows of institutional funds (mid-2024 and June 2025) are expected to drive prices from $96,000 to rebound.
- Whales Awakening: At the beginning of July, a dormant wallet that had been inactive for 14 years transferred 80,000 BTC (worth $8.6 billion). Although it was not sold, such movements typically signal a key market turning point.
- Leverage Hits New Highs: The leverage ratio for Bitcoin on exchanges has risen to an annual peak of 0.27, indicating an increased risk appetite among traders.
Short-term Risks: Profit Taking and Geopolitical Disturbances
Despite the positive trend, short-term volatility risks cannot be ignored:
- Weekend pullback pressure: Historical data shows that weekends often see profit-taking by institutions and retail investors, which may lead to a price retracement to the support range of $106,000 – $107,000.
- High leverage risks: When leverage ratios are high, sudden price fluctuations can easily trigger a chain liquidation.
- Geopolitical events: Analysts warn that sudden macro events (such as adjustments in tariff policies) may trigger short-term market turbulence.
Web3 Innovation Wave as an Industry Booster
If Bitcoin hits a new high, it will be with Web3 The overall leap in the industry creates resonance:
- Infrastructure upgrade: The Ethereum Foundation is promoting the transition of EVM to RISC-V architecture, which is expected to reduce execution costs by a hundred times; Solana is removing low-activity validators to strengthen decentralization and inject sustainability into the ecosystem.
- Payment revolution: Circle has launched the Refund Protocol and stablecoin payment network, connecting fiat and crypto payment channels, with enterprises expected to enter an explosive period of stablecoin payments in 2025.
- Fusion of AI and DePIN: Decentralized physical infrastructure networks (such as Bittensor, Render) are reshaping the AI and computing power market using token incentives; Eliza Labs’ Auto-Fun platform promotes no-code AI agent development, lowering the participation threshold for Web3.
NFT is predicted by The Spartan Group to “bounce back with astonishing magnitude,” while DeSci (decentralized science) is reconstructing research collaboration and funding distribution models through blockchain.
Institutional funds continue to flow in, with technical indicators showing a bullish trend across the board. Coupled with breakthroughs in Web3 regarding payments, AI, and governance, the probability of Bitcoin breaking through $120,000 in mid to late July is steadily increasing. Although short-term fluctuations are inevitable, each pullback may become a new entry point for institutions. When technical, financial, and industrial innovations align, the summer landscape of the crypto market is gradually unfolding.
Author:
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