Bitcoin ‘increasingly unlikely’ to see prolonged correction: 21Shares
Bitcoin’s “structural imbalance” signals that it probably won’t experience a significant downturn in the near term, says 21Shares crypto research strategist Matt Mena.
Bitcoin’s “structural imbalance” signals that it probably won’t experience a significant downturn in the near term, says 21Shares crypto research strategist Matt Mena.
Bitcoin price started a downside correction from the $123,200 zone. BTC is now trading below $120,000 and might find bids near the $115,500 zone. Bitcoin started a fresh decline from the new all-time high near $123,200. The price is trading below $120,000 and the 100 hourly Simple moving average. There was a break above a bearish trend line with resistance at $117,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $120,000 resistance zone. Bitcoin Price Corrects From New ATH Bitcoin price started a fresh increase after it cleared the $118,500 resistance zone. BTC gained pace for a move above the $120,000 and $122,000 resistance. The bulls even pumped the pair above the $123,000 zone. A new all-time high was formed at $123,140 and the price is now correcting gains. There was a move below the 23.6% Fib retracement level of the upward move from the $108,636 swing low to the $123,140 high. Bitcoin is now trading below $120,500 and the 100 hourly Simple moving average. However, the price is holding the 50% Fib level of the upward move from the $108,636 swing low to the $123,140 high. Besides, there was a break above a bearish trend line with resistance at $117,300 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $118,500 level. The first key resistance is near the $120,000 level. The next resistance could be $122,000. A close above the $122,000 resistance might send the price further higher. In the stated case, the price could rise and test the $123,200 resistance level. Any more gains might send the price toward the $125,000 level. The main target could be $130,000. More Losses In BTC? If Bitcoin fails to rise above the $120,000 resistance zone, it could continue to move down. Immediate support is near the $115,850 level. The first major support is near the $115,500 level. The next support is now near the $114,150 zone. Any more losses might send the price toward the $112,500 support in the near term. The main support sits at $110,500, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $115,500, followed by $114,150. Major Resistance Levels – $120,000 and $122,000.
Recently i’ve heard discussion of big Mega-Corporations buying up Bitcoin, Ethereum, and XRP in large quantities. I watched a couple of videos and read some articles but i’m still at a complete lost. What i’ve really gotten out of the videos/articles is that they’re tryin to make their own reserved currency in the sense of…
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Bitcoin climbed past $122,000 this week, marking its fourth straight month of gains. It even touched $123,000 Monday before dipping slightly. Related Reading: XRP To Hit $4 This Week? This Crypto Expert Thinks So Prices like these put the crypto asset well beyond what many everyday earners can afford. According to the Social Security Administration, the average yearly salary in the US is $66,600. That means a single coin now costs nearly twice what a typical worker makes in a full year. Bitcoin Prices Soar Past Records Based on reports from top crypto channel Altcoin Daily, high‑net‑worth individuals are being urged to act fast. The platform tweeted that millionaires should consider buying at least 1 BTC now, while it’s still within reach. This warning follows a popular post from El Salvadorian President Nayib Bukele, who pointed out that not all millionaires will be able to pick up a whole Bitcoin. With just 21 million BTC ever to exist and over 50 million millionaires worldwide, grabbing even 0.5 BTC would be out of reach if everyone tried. If you’re already a millionaire you need to buy 1 whole Bitcoin before it gets to expensive for you. — Altcoin Daily (@AltcoinDaily) July 13, 2025 Supply Crunch And Demand Rising According to Bloomberg Terminal data, traders are already thinking in terms of “millions per coin.” That shift reflects growing expectations that Bitcoin will surge into seven‑figure territory. United States President Donald Trump’s second son, Eric Trump, recently said that half a Bitcoin will be a huge amount of money soon and predicted the crypto could hit $1 million in the mid‑term. Those comments add to a chorus of bullish voices. Millionaires Feel The Squeeze Based on analysis from Binance co‑founder Changpeng Zhao, the $1 million mark isn’t far off. He told investors that it could happen in this bull cycle. Brandon Green of BTC Inc. agreed, forecasting a similar timeframe for liftoff. If those estimates hold, owning less than a coin may soon feel like holding pocket change. Big Names Project Massive Gains Ark Invest has put a $1.5 million base‑case target on Bitcoin by 2030, with a $2.4 million bull case riding on more institutional and nation‑state buying. That study credits a supply squeeze and wider adoption as key drivers. Meanwhile, Michael Saylor, who chairs Strategy, has set his sights even higher. He raised his forecast to $13 million per coin by 2045, citing rapid regulatory clarity and fast‑tracking corporate investment. Related Reading: Avalanche Shatters Record With 20M Transactions—Is Real-World Use Finally Here? Bold Forecasts Paint A High Stakes Picture Some of these price targets may sound lofty. Yet they reflect a simple math problem: shrinking supply meets growing demand. Fractional ownership allows small investors to chip in over time, but the sense of urgency is hard to ignore. For now, Bitcoin’s rally is rewriting affordability rules, and the window for easy access may be closing. Featured image from Meta, chart from TradingView
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The House blocked major crypto bills, but accelerating Senate momentum and surging institutional demand are reigniting hopes for transformative U.S. digital asset legislation. US Crypto Legislation Stalls in House, Disrupting Momentum on Digital Asset Rules The U.S. House of Representatives blocked a procedural vote on July 15, preventing formal consideration and discussion of three crypto […]
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