As of July 13, 2025, Bitcoin (BTC) is experiencing significant bullish momentum, having recently hit new all-time highs above $118,000. This rally is largely fueled by strong institutional demand, robust ETF inflows, and a supportive macroeconomic environment. Technical indicators suggest continued upward potential, with some analysts forecasting a push towards $120,000 or even $140,000 in the short term.
However, a strong positive momentum (RSI above 70) also hints at potentially overbought conditions, which could lead to short-term corrections or sideways movement. Key support levels to watch are around $111,000 and $106,500. While the overall sentiment remains optimistic, a degree of caution is advised due to the rapid recent gains