With Bitcoin now trading in the $122,000–$123,000 range, traders and analysts are wondering: Can BTC break $130K soon? The article explores technical patterns, legislative momentum, and on-chain signals behind the current rally—and what may come next.
🔍 Key Drivers & Data Points:
- U.S. Policy Momentum
- The GENIUS, Clarity, and Anti-CBDC Acts are expected to pass by August, creating a more secure environment for crypto.
- Trump’s executive order to create a U.S. Strategic Bitcoin Reserve earlier in the year continues to boost market confidence.
- Technical Indicators Show Strength
- Bitcoin has broken through key resistance levels at $110K and $117K.
- Traders are watching the dealer gamma positioning, which suggests there may be limited resistance until $130K.
- Spot-to-derivatives flows remain bullish.
- Dollar Weakness Adds Fuel
- A softer U.S. dollar, partially due to inflation fears and trade tensions, is encouraging dollar-based investors to shift into BTC.
- Several analysts say Bitcoin is now acting like a “digital macro hedge.”
- On-Chain Accumulation Continues
- Both “shrimps” (wallets under 1 BTC) and “whales” (wallets with 1,000+ BTC) are increasing their holdings, suggesting coordinated accumulation.
- Miner selling has slowed, indicating confidence in further price appreciation.
📈 Expert Take:
“The next real test is $130K. If we break that with volume, Bitcoin could move into price discovery mode again,” said Katie Stockton, founder of Fairlead Strategies.
