Bitcoin Price Could Smash to New All-Time High This Week — Here’s Why
Bitcoin’s rally is heating up again, with the price climbing to the key resistance zone of $118,000 over the weekend as multiple bullish factors align.
Key Takeaways
BTC could hit a fresh ATH within days
Bullish flag breakout points to $142K target
ETF inflows and Fed cut hopes fuel the rally
Bullish Flag Breakout in Play
On the daily chart, Bitcoin has been forming a bullish flag — a classic pattern that often precedes explosive upward moves. The setup began on June 22, when BTC bottomed at $98,320 and then soared to its previous all-time high of $123,200, creating a flagpole nearly $25,000 tall.
Since then, BTC has consolidated inside a downward-sloping channel — the “flag” — but is now showing signs of breaking above the upper boundary.
Using the technical formula, adding the $25,000 height to the breakout level at $117,000 projects a target near $142,000.
Strong Technical Support
Price is holding above the 100-day EMA — a sign of trend strength.
A break-and-retest has confirmed $112,000 (the old ATH) as strong support.
Momentum indicators like the RSI, MACD, and MFI are all pointing upward.
ETF Inflows Surge Again
Investor appetite is also driving momentum. U.S.-based Bitcoin ETFs saw $246M in net inflows last week, a sharp reversal from the $643M outflows the week before.
At the same time, BTC supply on exchanges has dropped to multi-year lows — a classic bullish supply squeeze.
Macro Tailwinds: Fed Rate Cut Hopes
Macro factors are also on Bitcoin’s side. The odds of a Federal Reserve rate cut in September have surged following weak U.S. jobs data earlier this month.
If Tuesday’s CPI report comes in lower than expected, these odds could rise further. Economists are forecasting July’s headline CPI at 2.8%, reflecting the first effects of new tariffs.
Bottom line: With a textbook bullish flag breakout, renewed ETF inflows, shrinking supply, and growing rate-cut optimism, Bitcoin’s path to a new record high — and potentially $142,000 — may just be a matter of days.
#bitcoin #Binance #Price-Prediction
