The price $BTC is retesting a key support level that previously triggered a 25% increase, potentially signaling a return to new historical highs for Bitcoin.
The 50-day EMA bounce for Bitcoin aligns with a bullish pattern targeting the $148,000 mark.
The sell-off of 80,000 BTC by an old whale marks the third wave of profit-taking, which often precedes a recovery.
Bitcoin fell by 7.50% over three weeks after reaching a record high of around $123,250. However, analysts believe this may be the last drop before a breakout to $150,000.
BTC holds critical support from the moving average.
On Sunday, $BTC once again took control of its 50-day exponential moving average (50-day EMA; red wave) after a brief drop below it the day before.
Daily chart of BTC/USD price.
The 50-day exponential moving average (EMA) has served as a reliable support level for the start of new rallies. For example, in June, a brief drop below this wave support level preceded a sharp rebound of 25%.
Now BTC seems to be repeating the same situation; the cryptocurrency may experience events similar to those in June in the coming days.
A drop to the range of $110,000–$112,000 would become the 'ideal bottom' for Bitcoin, potentially setting the stage for the next phase of growth.
Classic technical breakthrough target of $148,000.
The 50-day EMA support level also aligns with the neckline of the prevailing 'inverted head and shoulders' (IH&S) pattern for Bitcoin.
After breaking this neckline, BTC retraced to retest it (a typical move after a breakout), and bounced back, confirming the validity of the bullish reversal pattern.
A successful retest of the neckline now signals that Bitcoin may be entering a continuation phase of its breakout, with the IH&S pattern targeting a move towards $148,250.
Daily chart of BTC/USD price.
This is close to the widely anticipated target growth rate for BTC of $150,000 by 2025, which many analysts believe should be reached sometime in October.
The sell-off of an old Bitcoin whale at $9.6 billion is a bullish trend.
Network data also indicates that the ongoing decline in Bitcoin's price may lead to another major breakthrough.
According to CryptoQuant, during the bull market of 2023–2025, Bitcoin experienced three major waves of profit-taking by whales.
Bitcoin has benefited from both old and new whales.
This happened for the first time after the launch of American spot ETFs in March 2024. The second time it occurred after Bitcoin exceeded the $100,000 mark following Trump's election at the end of 2024. The third time it happened in July 2025 after a breakthrough above $120,000 triggered a sell-off of 80,000 Bitcoins by an old whale.
Each wave of profit-taking preceded a period of price consolidation or moderate correction lasting from two to four months.
"These cooling phases have historically prepared the ground for new accumulation and subsequent breakthroughs to new historical highs."