{"id":5741,"date":"2025-07-10T04:11:13","date_gmt":"2025-07-10T04:11:13","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-hits-ath-of-112000-expert-predicts-rally-is-just-beginning\/"},"modified":"2025-07-10T04:11:13","modified_gmt":"2025-07-10T04:11:13","slug":"bitcoin-hits-ath-of-112000-expert-predicts-rally-is-just-beginning","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-hits-ath-of-112000-expert-predicts-rally-is-just-beginning\/","title":{"rendered":"Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning"},"content":{"rendered":"

On Wednesday afternoon, Bitcoin (BTC) surged to a remarkable all-time high (ATH) of $112,022, breaking free from its previous consolidation phase and lower resistance levels.\u00a0<\/p>\n

Bitcoin Rally Faces Critical Test<\/h2>\n

John Glover, the chief investment officer at crypto lending platform Ledn and a former managing director at Barclays Investment Bank, noted <\/a>that the recent rally appears to be a retest of the previous all-time high set on May 22, which encountered selling pressure.\u00a0<\/p>\n

As some investors opted to take profits, notable publicly traded companies, including Trump Media & Technology Group and GameStop, have announced their intentions to purchase Bitcoin to bolster their treasuries.\u00a0<\/p>\n

Glover emphasized that the competition among these companies to accumulate Bitcoin could significantly impact market dynamics, given that the cryptocurrency’s popularity among publicly traded companies appears to be growing.<\/p>\n

However, the sustainability of Bitcoin’s rally largely hinges on macroeconomic conditions and developments in trade negotiations. Sid Powell, CEO of crypto asset-management firm Maple, highlighted that any setbacks in trade discussions before President Donald Trump\u2019s August 1 deadline could pose challenges for Bitcoin’s price movement.\u00a0<\/p>\n

Conversely, if trade negotiations progress and inflation continues to ease, the Federal Reserve (Fed) might consider cutting interest rates, which could further support Bitcoin\u2019s upward trajectory.<\/p>\n

Scenarios For A Potential Breakout Toward $130,000<\/h2>\n

Market expert Doctor Profit recently took to social media, declaring <\/a>that Bitcoin’s rally is just beginning. He confidently stated, “THE PARTY IS NOT OVER YET,” predicting a potential new all-time high soon.\u00a0<\/p>\n

His analysis <\/a>indicates a target range of $120,000 to $130,000 for this cycle. According to Doctor Profit, two potential scenarios could pave the way for this breakout.\u00a0<\/p>\n

The first involves Bitcoin reaching the $113,000 to $114,000 range, followed by a correction to the $92,000 to $93,000 level, which aligns with a major liquidity pool and the CME gap. A rebound from this lower range could set the stage for a rapid ascent toward the $120,000 mark.<\/p>\n

The second, more aggressive scenario suggests that Bitcoin could break through the $113,000 to $114,000 barrier and continue its upward momentum without revisiting lower liquidity levels.\u00a0<\/p>\n

In either case, the $113,000 to $114,000 range is critical, as the market’s reaction to this level will significantly influence the speed and direction of Bitcoin’s next leg.<\/p>\n

\"Bitcoin\"<\/p>\n

When writing, BTC has retraced back toward $111,422, attempting to make this level its new support floor for further price appreciation.\u00a0<\/p>\n

Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

On Wednesday afternoon, Bitcoin (BTC) surged to a remarkable all-time high (ATH) of $112,022, breaking free from its previous consolidation phase and lower resistance levels.\u00a0 Bitcoin Rally Faces Critical Test John Glover, the chief investment officer at crypto lending platform Ledn and a former managing director at Barclays Investment Bank, noted that the recent rally…<\/p>\n","protected":false},"author":1,"featured_media":5742,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[199],"tags":[65,111,108,265,200,73,112,113,70,71,19,250,115,254],"class_list":["post-5741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news-ticker","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-technical-analysis","tag-breaking-news-ticker","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-market","tag-crypto-news","tag-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/5741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=5741"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/5741\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/5742"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=5741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=5741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=5741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}