Bitcoin Soars to $119,000 — Could It Hit $130K Sooner Than Expected?
Jakarta, Pintu News – Analysts believe that Bitcoin is experiencing a bullish breakout. They predict that the price could rise to as high as $130,000, provided it is able to maintain key support levels.
In addition, the still-low capital flows suggest that this rally still has the potential to continue strengthening before entering a phase where investor sentiment becomes overly optimistic. This phase is known as the euphoria zone.
Then, how is the current Bitcoin price movement?
Bitcoin Price Up 0.83% in 24 Hours
On July 28, 2025, Bitcoin was trading at $119,325, which is equivalent to IDR 1,945,597,156 — marking a slight increase of 0.83% over the past 24 hours. During this period, BTC hit a low of IDR 1,922,950,218 and climbed to a high of IDR 1,953,765,473.
According to CoinMarketCap, Bitcoin’s market capitalization now stands at around $2.37 trillion, with trading volume in the last 24 hours rising 17% to $56.36 billion.
Read also: Ethereum Surges to $3,800 — Is a Massive Rally to $5,000 Just Around the Corner?
Bitcoin Set to Surge to $130,000, Analysts Highlight Key Levels
Bitcoin has the potential to reach a price of $130,000 if it is able to hold above the $110,000 support level, according to analysis from popular trader @Ali_charts on the X platform. This prediction is based on Glassnode’s MVRV pricing bands model.
In the model, Bitcoin price is currently near the +1.5 sigma upper deviation level. If BTC is able to maintain long-term support above $110,756, then it is likely that the price will rise towards the +2.0 sigma region, which is around $130,000. A strengthening technical structure in this range indicates the potential for further upside in BTC prices.
Another crypto analyst, Michaël van de Poppe, also believes that Bitcoin is in a position to make a major breakout. In his statement on X, he mentioned that if BTC stays above $116,800, the market could potentially set a new record high.
The chart he shared shows that the $110,000-$112,000 area is an ideal zone for accumulation, with $119,500 being an important resistance level that needs to be broken to continue the rally.
In addition, senior analyst Peter Brandt also expressed an optimistic view on Bitcoin’s long-term prospects. The veteran trader emphasized that Bitcoin is the only true crypto, while other coins are merely “copycats.”
Read also: Not Solana or Pepe, Analysts Unveil 3 Altcoin ‘Dark Horses’ Ready to Explode This Month!
Low Capital Flows and Consolidation Below $119,500 Signal Bitcoin’s Further Upside Potential
Although Bitcoin is currently trading above $118,000, the capital inflow is still far below the previous peak.
Based on data from Glassnode shared by Ali on the X platform, the total crypto net inflows over the past 30 days stood at $82 billion.
In comparison, last December when the BTC price was around $96,000, market inflows reached $135 billion. This difference shows that the market has not yet entered the euphoria zone phase.
This means that there is still room for Bitcoin to continue to strengthen without being at an overheated or overbought level.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- Coingape. Analyst Predicts Bitcoin May Hit $130K if $110K Support Holds. Accessed on July 28, 2025
