“From a technical standpoint, we're seeing some really powerful breakouts,” says crypto analyst Katie Stockton.
Katie Stockton , a well-known crypto analyst and founder of Fairlead Strategies, has predicted that Bitcoin will reach $135,000 in the medium term, signaling a strong uptrend.
In an interview with CNBC on Monday, he said that BTC could surge before entering a “corrective phase.”
Before the last major breakout, there were almost 8 weeks of consolidation, which now seem like “old history”.
Starting from the breakouts , the company has developed “measured movement projections”, assuming that the trajectory of the current trend, which has already had a corrective phase, will continue to hold.
"The forecast points to Bitcoin around $135,000 as a medium-term target," Stockton explained. "It seemed pretty aggressive a few days ago, but perhaps a little less so now."
Bitcoin hit a new all-time high of $123,091 on Monday , thanks in part to massive institutional adoption. Over 265 companies now hold Bitcoin on their balance sheets, double the 124 companies on June 5.
Stocks that follow BTC's $BTC performance could see a surge
According to Stockton, Coinbase and Michael Saylor’s Strategy shares , which track BTC, could also perform well.
He also referred to the movements of Ether and XRP, noting that there is “a positive intention across the entire crypto universe.”
“From a technical standpoint, we are seeing some very interesting breakouts, some of which are major breakouts, some of which are minor breakouts,” he told CNBC’s “Closing Bell” team.
Stocks that have followed the cryptocurrency trend have also posted interesting performances. The analyst identified a "cup-and-handle" pattern in Coinbase shares , further strengthening this optimistic view.
Strategy (formerly MicroStrategy) has continued a long-term uptrend, marked by higher highs and higher lows, and is now experiencing a short-term breakout as well.
“So, it really looks like there is positive movement across the market,” he observed.
Jamie Elkaleh, Chief Marketing Officer at Bitget Wallet , attributes Bitcoin's growth to increased institutional adoption. He told Cryptonews that high demand for ETFs suggests further upside is imminent.
“A short-term retracement appears unlikely, with Bitcoin more likely to test new levels in the coming weeks,” he said.
“Until BTC dominance drops significantly below 62% and the ETH/BTC ratio strengthens further, Bitcoin will likely continue to limit the growth of other alternative blockchain layers.”
Furthermore, despite inflows into Ethereum $ETH ETFs and the trend of tokenization of real assets, Bitcoin dominance remains high.
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