- Bitcoin surged to a new all-time high around $110.9K, extending a bullish run with 8 straight green weekly candles.
- Analyst projects Bitcoin could hit $267K this cycle, with a long-term target of $1.6M by 2030.
- Whale trades using 40 times leverage show strong institutional confidence, with $1.14B positions driving momentum.
Bitcoin surged to a new all-time high of $111,861.22, a historic price breakout. The move extended a bullish streak of eight consecutive green weekly candles since bouncing from a low of $74,500.
Market analysts have since issued bold projections, supported by high leverage positions from large traders and rising interest in long term cycle patterns. This comes as Bitcoin enters new levels in price discovery, testing both technical boundaries and investor confidence.
Weekly Super Cycle Eyes $267K as Intermediate Target
According to analyst Marty Party, Bitcoin may reach $267,000 in this current cycle, with a longer term projection of $1.6 million by 2030. If that scenario hold, a $25 trillion market cap is achievable for BTC, which is above gold’s current $22 trillion valuation.
Marty Party’s model implies a 139% increase from current price levels. The pattern suggests sustained bullish momentum that could extend well into the next decade.
Analysts Highlight New Targets
Meanwhile, other analysts point to key resistance levels as Bitcoin enters price discovery. Analyst Ali noted levels at $116,000, $126,000, $136,000, and $148,000 as areas to watch.
Rose, another market analyst, said Bitcoin is nearing the top of its ascending channel on the weekly timeframe. She identified $133,320.79 as the next target, while also expecting short term consolidation.
This outlook aligns with broader sentiment that Bitcoin may see continued upward pressure, slowing any sharp reversals. The price has remained above key support levels, supporting the confidence in the market.
Whale Activity Adds Momentum to Bitcoin Rally
Large leveraged positions also show the strength of the current rally. According to Lookonchain, wallet address 0x0C86 deposited $14 million USDC into Hyperliquid, using 40 times leverage to long Bitcoin at $110,130.50. The position amounted to 900 BTC, worth nearly $100 million, with a liquidation point at $95,925.
Separately, top trader James Wynn also opened a 40 times leveraged long for 10,200 BTC worth $1.14 billion. At current prices, the trade holds an unrealized profit exceeding $39 million, further validating the increased institutional confidence.
As per the data thrown by CoinMarketCap, during reporting BTC is trading at 110,807.93, with a daily gain of 3.91%. Since BTC has achieved this milestone on the Bitcoin Pizza Day, the day when the first BTC transaction happened, many spectators view this as a great day to celebrate. Many strong projections are looming in the market and the current suggestions signifies that the pioneer cryptocurrency is still underway for its next milestone.
