Bitcoin (BTC) Price Prediction: Bitcoin Eyes $112K Breakout and New All-Time High as Bulls Regain Control of the Market

With momentum building and bullish sentiment intensifying, traders are now asking: Can Bitcoin break past resistance and target $115K, or even $120K, in the near term?

Bitcoin price today has surged over 3%, pushing past the $111,000 level and approaching a key resistance zone near $112,400. This marks a return to record territory for BTC, as it tests the ceiling last seen during its previous all-time high.

BTC/USD has broken key resistance at $110,000, triggering market FOMO with a potential upside toward the $116,000 Fibonacci extension level. Source: WHT_Trader on TradingView

Technical indicators suggest that Bitcoin has broken out of a two-week descending triangle, with strong support from a rising trendline that began in late June. The 4-hour chart shows price action holding above key moving averages (EMA20, EMA50, EMA100, and EMA200), all stacked in bullish alignment.

The Bitcoin RSI indicator is beginning to flatten near overbought territory, while Bollinger Bands on the daily chart are widening again—typically a sign of trend continuation. However, price is hugging the upper band, signaling a possible near-term exhaustion if volume fails to keep pace.

Immediate resistance lies around $112,226 to $112,500. A decisive daily close above this range would confirm a sustained breakout, potentially clearing the path toward $114,900 and $120,000.

Bitcoin news today highlights a combination of macro and on-chain catalysts fueling the rally. One of the key narratives is the growing accumulation by institutions and corporations.

Major firms like MicroStrategy, GameStop, and Japan’s Metaplanet have recently boosted their BTC holdings. Simultaneously, the U.S. government has pushed forward legislation for a Strategic Bitcoin Reserve, reinforcing BTC’s legitimacy as a sovereign-grade asset.

An estimated 80,000 BTC worth $8.8 billion, held for 14 years, was moved into the market today, drawing significant attention. Source: @CryptoPsalm via X

Adding to the bullish momentum, a dormant wallet containing 80,000 BTC—valued at over $8.6 billion—was moved for the first time in years. While this sparked short-term speculation, it hasn’t derailed the uptrend. This is interpreted as part of a broader realignment in Bitcoin whale alert activity rather than a market-top signal.

Derivatives markets have also played a role in the price surge. According to Coinglass, derivatives volume rose 71.75% to $97.11 billion, with open interest climbing 8%. Positive funding rates and a long-biased positioning from top Binance traders suggest continued bullish pressure.

Veteran Bitcoin bull Max Keiser has re-emerged with renewed confidence, sticking to his decade-old prediction of Bitcoin reaching $220,000. What’s different now is the timeline—Keiser now sets a deadline for this target to be reached by the end of 2025. He argues that with Bitcoin now treated as a strategic asset, this cycle could outpace previous rallies.

Crypto analyst Max Keiser has predicted that Bitcoin could reach $220,000 by the end of 2025. Source: Max Keiser via X

Technically, Bitcoin has cleanly broken past the $111,980 and $112,000 resistances with no significant overhead barriers. If the price can convert $112K into solid support, the next targets include $113K, $115K, and the psychologically important $120K level.

From a macro lens, the Bitcoin halving 2025 event—expected in the first half of next year—is also drawing attention. Historically, Bitcoin tends to rally before and after each halving cycle due to reduced supply issuance. With the current surge happening practically nine months ahead of time, gossip is mounting that the halving will constrict supply even more in a high-demand environment.

Bitcoin is still in fashion as an inflation hedge, particularly with ongoing uncertainty over U.S. monetary policy. The dovishness of the Federal Reserve in recent times has pushed investors to decentralized equivalents, with BTC leading the way as a store of value.

With Bitcoin trading above $111,000 and pushing toward the $112,400 resistance, all eyes are on whether bulls can maintain momentum. A strong daily close above that level could initiate the next leg toward $115K or even $120K, especially if institutional inflows and macro support persist.

Bitcoin (BTC) was trading at around $111,103, up 2.04% in the last 24 hours at press time. Source: Bitcoin Liquid Index (BLX) via Brave New Coin

On the downside, key support lies between $108,000 and $109,000, backed by multiple technical confluences, including the Supertrend and EMA20.

The broader Bitcoin price prediction remains optimistic. In the short term, traders will be watching volume, breakout confirmations, and key resistance zones. In the long term, catalysts like the Bitcoin ETF news, regulatory clarity, and the 2025 halving are poised to shape the trajectory for months to come.

As BTC continues to defy expectations, one thing is clear—Bitcoin is not just knocking on the door of a new all-time high. It may be preparing to kick it wide open.