Titan of Crypto: bitcoin will rise to $ 137,000

After hitting a recent record high of $ 123,000, bitcoin BTC $117,910.59 Bitcoin 0.03% Market capitalization $2.35 trillion VOL. 24 hours $2.03 billion has corrected and is currently trading just above $ 119,000. However, the chart has formed a so-called bullish pennant, a bullish flag that usually signals further price growth after a short pause. According to traders, a breakout from this pattern could trigger a new powerful jump, with a potential target of $ 137,000.

The recent growth of BTC is attributed mainly to institutional investments: pension funds and corporate treasuries are entering the market, not just retail traders, as in previous cycles. Additional impetus was provided by legislative changes in the United States and President Trump’s signing of the first major law for the cryptocurrency industry.

It is important to note that almost 98% of bitcoin addresses are now profitable, and the volume of large transactions exceeded $ 236 billion last week. Many companies continue to build up their bitcoin reserves: over 7,700 BTC were purchased last week alone.

The overall dynamics indicate a further strengthening of bullish sentiment among major players, so analysts believe that Bitcoin could update its high and reach $ 137,000 in the near future if the market continues to be supported by institutions.