According to Katie Stockton – founder of Fairlead Strategies – Bitcoin is likely to reach $135,000 in the medium term. In an interview with CNBC on Monday, Stockton emphasized that $BTC is in a strong bullish trend, especially after breaking out of a nearly two-month accumulation phase.

"We use 'trend measurement' models from breakout points to make forecasts," Stockton shared. "Bitcoin's medium-term target is currently set at around $135,000. Just a few days ago, this figure seemed overly optimistic – but now it doesn't seem so anymore."

Bitcoin Hits New High of $123,091 Thanks to Institutional Cash Flow

On Monday, Bitcoin reached a new high of $123,091, marking a significant turning point in the current bullish cycle. One of the significant driving factors is the strong increase in institutional cash flow. There are now more than 265 listed companies holding Bitcoin on their balance sheets, double the number of 124 companies at the beginning of June. This is a clear indicator of the growing acceptance of BTC in traditional financial markets.

BTC-Related Stocks May Experience Strong Growth

Katie Stockton also mentioned that stocks tracking BTC performance, such as Coinbase and Strategy (MicroStrategy) – led by Michael Saylor – are also showing positive signals. In particular, she noted that Coinbase stock is forming a "cup-and-handle" pattern – a classic bullish pattern in technical analysis. Meanwhile, Strategy continues to maintain a long-term uptrend and has recently broken out short-term from the accumulation zone.

Not only BTC, but also the altcoin market like Ether and XRP is experiencing significant breakthroughs. We see positive price action throughout the crypto ecosystem," Stockton noted.

ETF and Bitcoin's Dominance in the Market

While ETF capital continues to flow into the Ethereum market and tokenization solutions, Bitcoin maintains its dominant position, accounting for more than 62% of the total crypto market capitalization. According to Jamie Elkaleh, Marketing Director at Bitget Wallet, demand from ETF funds is the key factor keeping BTC prices high:

"Currently, the likelihood of a short-term correction is very low. Bitcoin is almost certain to continue testing higher thresholds in the coming weeks."

Elkaleh also warned that unless the BTC Dominance index drops sharply below 62% and the ETH/BTC pair shows a clear breakout, Bitcoin will remain the center of the growth phase, hindering the explosion of alternative layer platforms.

Summary

Bitcoin is entering a period of strong bullish momentum supported by both technical analysis and institutional cash flow. With a medium-term target of $135,000, and the current peak at $123,091, investors are closely watching every move of BTC and related assets like Coinbase, Strategy, Ether, and XRP. The overall picture shows a market full of expectations – but at the same time, it also harbors technical factors that need to be closely monitored. #Write2Earn