Bitcoin Soars to New Highs With Nearly All Holders in Profit

by Ouess

Bitcoin smashed through records this week, peaking at $124,457 after favorable US inflation data. Remarkably, 99% of BTC’s circulating supply is now held at a profit – a rare market condition that often precedes major moves.

Inflation Data Fuels Bitcoin Rally

The July CPI report showed:
• Annual inflation holding at 2.7% (below expectations)
• Monthly increase of just 0.2%

This economic backdrop sent risk assets soaring, with Bitcoin adding $40 billion in market cap in a single day. At publication, BTC trades near $121,881 with trading volumes up 30%.

Key Levels to Watch

Analysts identify two crucial price points:

1. $126,000

  • Breakthrough could trigger accelerated buying
  • Current resistance level

2. $142,690

  • Venture capitalist Chris Burniske’s October peak target
  • Would require sustained bullish momentum

Is This the Final Bull Run Phase?

Historical patterns suggest Bitcoin may be entering its last explosive growth stage:
• Exchange netflows showing reduced sell pressure
• Long-term holders refusing to sell
• Similar conditions preceded 2017/2021 parabolic moves

Long-Term Price Predictions

While conservative estimates target $142K, some analysts see potential for:
• $340,000 per BTC (Jason Pizzino)
• Would require $6.7T market cap
• Would surpass all assets except gold

“Bitcoin remains the best crypto investment for 2025,” say industry leaders like Cathie Wood and Michael Saylor, though they caution about potential short-term pullbacks.

You may also like

Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Social Media Auto Publish Powered By : XYZScripts.com
Skip to content