- Bitcoin may surge to $132K if it secures a daily close above the key $121K resistance level.
- Low unrealized profits suggest BTC has room to rise 20–25% before major selling pressure builds.
- Bullish chart patterns and $15B in ETF inflows signal strong institutional-backed upward momentum.
Bitcoin is showing strong upward momentum as it trades at $119,432, just below the key resistance level of $121,000. Market analysts and traders are watching this level closely. A confirmed daily close above it could open the way for Bitcoin to rally toward $132,000 in the near term.
Daily Close Above $121K Could Spark Fresh Upside
According to an observation by analyst Ali Martinez, Bitcoin may target $132,000 if it manages a daily close above $121,000. Martinez noted that this level has acted as a range high, and a confirmed breakout could lead to further gains. Since April 2025, Bitcoin has posted a series of higher highs and higher lows, suggesting a strong uptrend.
The asset broke through resistance levels at $92,000, $100,000, and $112,000, eventually reaching a high of nearly $122,000 in July before slightly retracing. Technical indicators such as the Relative Strength Index (RSI) remain healthy, while the price continues to hold above its 50-day and 100-day moving averages.
According to analysis prepared by CryptoQuant, unrealized profits of short-term holders remain low at 15%, far from the historical 35% level that usually leads to mass profit-taking. This indicates more room for growth, potentially between 20% and 25%, before the market sees major selling.
Technical Patterns and Institutional Demand Support Price Action
Technical chart patterns are supporting a bullish outlook. According to trader JasonWaveFx, Bitcoin has completed a cup-and-handle and a bull flag pattern. These are both continuation signals, and their measured moves point to a price target as high as $144,500.
Institutional demand is also helping to sustain the rally. Over $15 billion has flowed into U.S. spot Bitcoin ETFs recent months, shifting market control from retail traders to institutional investors.
Blockchain tracking platforms have also reported large Bitcoin purchases by whales and funds. According to veteran trader Peter Brandt, Bitcoin could reach between $125,000 and $150,000 by August or September 2025 if current momentum continues.
