Bitcoin may still have "fuel" to continue rising before needing to slow down. According to Katie Stockton – founder and managing partner at Fairlead Strategies, the largest cryptocurrency by market capitalization could rise to $135,000 in the coming weeks despite some signs that the market is beginning to "cool down."
Why is the $135,000 level still feasible?
Referring to the consolidation period lasting 7-8 weeks before Bitcoin's recent breakout, Stockton shared:
"This breakout occurred after a clear pause, reinforcing the bullish trend... We have been monitoring the $108,300 threshold and witnessed Bitcoin decisively surpassing it."
Based on the recent price breakout, Stockton's team at Fairlead used a target measurement model to estimate that Bitcoin could reach the next medium-term target of around $135,000. She shared:
"Although this figure seemed quite bold a few days ago, it no longer feels too far-fetched now."
With Bitcoin setting new highs above $123,000 and over 265 companies currently holding BTC on their balance sheets, Stockton believes that the upside potential remains — not just for BTC but also for crypto-related stocks like Coinbase and Strategy.
Momentum remains sustained, but signs of weakness are emerging
The daily chart of Bitcoin shows that the bullish outlook is still present, as noted by Stockton, however, there are also some signs that require caution.
The RSI index is at 65.15 at the time of writing, which means it is still below the overbought zone, indicating that Bitcoin still has room to increase before hitting the overheating threshold.
The MACD indicator remains in the bullish zone, reflecting that momentum is being maintained. However, the Stochastic RSI has started to turn down from the 90 zone, indicating a potential short-term fatigue may appear in the near future.
Despite a slight correction below $117,000, BTC remains above both the 50-day and 200-day moving averages. Overall, the chart still supports the $135,000 medium-term target, although a pause or slight correction in the short term would not be too surprising.
Bitcoin follows its own cycle and this rally may still be ongoing
Considering historical trends, Bitcoin typically does not correct immediately after surpassing all-time highs (ATH). In 2017 and 2021, BTC continued to climb significantly within 3-6 months after setting new peaks, before hitting the actual peak.
The current rally — which started at the end of 2024 — reflects previous patterns, with new peaks still relatively fresh. BTC's surge past the $120,000 mark is a strong climb, but not unusual.
If history repeats itself, Bitcoin may continue to rise higher in Q4 of 2025 before a significant correction occurs.
Although the upward momentum may slow down at certain stages, the overall trend shows that the $135,000 target is still within reach before the market enters any major correction.
The derivatives market reflects a controlled optimistic sentiment
The derivatives market supports the possibility of further price increases. Open interest (OI) has surpassed $41 billion, indicating increasing market participation, but not accompanied by reckless leverage.
More importantly, the overall funding rate is fluctuating around 0.0183 — a fairly neutral level, reflecting moderate and controlled optimism from investors.
Thus, traders are leaning towards a bullish trend, but not in an overly heated manner. The funding rate not soaring implies that the current price increase is not driven by excessive Long speculative activity — a factor that often leads to strong corrections afterward.
When combined with the stable upward momentum of prices and historical patterns, it can be seen that the momentum towards the $135,000 mark for Bitcoin is still ongoing, not yet having peaked.
