Analyst Predicts Bitcoin May Hit $130K if $110K Support Holds

Analysts are confident that Bitcoin is on a bullish breakout. They cite a potential uprise towards $130,000, provided it maintains a key support. In addition, subdued capital inflows imply that the rally can still gain further momentum before hitting a cycle where investor sentiment becomes overly optimistic. This cycle is known as the euphoria zone.

Bitcoin Poised for $130,000 Surge as Analysts Highlight Key Levels

Bitcoin could reach $130,000 if it maintains support above $110,000, according to an analysis by popular trader, @Ali_charts on X. The analyst based his prediction on Glassnode’s MVRV pricing bands.

According to the model, the current price of Bitcoin is close to the upper +1.5sigma deviation level. Long-term support above $110,756 can drive BTC to the +2.0 region, which is near $130 000. The bullish structure in this technical range suggests further BTC price upside.

Crypto analyst Michaël van de Poppe also believes Bitcoin is positioned for a major breakout. He stated on X that if BTC holds above $116,800, the market could see new all-time highs soon. His chart shows that the $110,00–$112,000 region is ideal for accumulation, with $119,500 marked as a key resistance to test for a fresh upward run.

Also, another top analyst, Peter Brandt shared an optimistic view about Bitcoin’s long-term potential. The veteran trader declared that Bitcoin is crypto and that every other coin is a ‘poser.’

Subdued Inflows and Consolidation Below $119,500 Hint at Further Bitcoin Upside

Despite Bitcoin currently trading above $118,000, capital inflows remain well below previous peaks. According to the data provided by Glassnode via Ali on X, the net crypto inflows in the last 30 days is $82 billion.

Comparatively, the inflows in the market were $135 billion in December when BTC traded at $96,000. This contrast implies that the market is yet to enter the euphoria zone. Thus, the coin can still record further gains without reaching overheating levels.

Bitcoin’s current price action remains stable. At the time of writing, BTC price is at $118,147 with a 24-hour gain of 0.86%. Market cap is $2.35 trillion, while trading volume has dropped over 53% to $49 billion.