Bitcoin’s Wild Ride: Is a $135K Summit in Our Future or Just a Slope of Regret?

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Key Takeaways

Oh, the delightful chaos of cryptocurrency! Apparently, Bitcoin might be eyeing a sky-high $135,000. And for once, this isn’t just your uncle’s wild conspiracy theory. 🎢

Surprise, surprise! Bitcoin [BTC] could still be revving its engines like a teenager with a new car before it decides to slam on the brakes. Who said crypto wasn’t dramatic? 😏

Katie Stockton, the oracle of Fairlead Strategies, has thrown caution to the wind and suggested that our beloved king crypto could indeed soar to that lofty $135,000 in the coming weeks — despite some worn-out brakes starting to show signs of wear. 🚗💨

Why $135K is Still on the Menu

According to Stockton, after an intense seven-to-eight-week consolidation (which apparently deserves its own dramatic soundtrack), Bitcoin decided to hoist itself up to glory. She mentioned this enlightening thought on CNBC’s Closing Bell:

“This breakout did follow a pause that obviously refreshed the uptrend… We saw that $108,300 level we’ve been citing cleared, and it happened very decisively.”

With her team flexing their analytical muscles, Stockton’s strategy shows Bitcoin could reach that shiny $135,000 based on calculated momentum. How quaint. She mused,

“While this may have seemed pretty aggressive a few days ago, maybe now it’s a little less so.”

Bitcoin’s record high of $123K and over 265 companies hoarding it like it’s the last slice of pizza suggest this party isn’t ending just yet. And don’t forget crypto-linked stocks, they’re getting in on the fun too! 🎉

Momentum Still Funky, But Tired?

Examining the Bitcoin daily chart feels a bit like reading a suspense novel — full of excitement but also hints of caution. 🔍

At press time, the RSI was lounging at 65.15, just shy of being “overbought.” It’s like the classic sitcom moment where the character keeps saying, “I’m fine!” while their life is a mess. 🙄

The MACD is still holding onto bullish vibes, but the Stochastic RSI seems to be heading for a coffee break. Short-term exhaustion, or just plain tired of all this ludicrousness? You decide.

Even with a minor pit stop below $117K, Bitcoin remains the star of the show exceeding both its 50-day and 200-day Moving Averages. So, while we’re still aiming for that thrilling $135K target, a little pause might not be the worst thing. Sometimes you just need to catch your breath! 😅

BTC’s Pattern: Are We Still Mid-Rally?

A little historical context reminds us that Bitcoin enjoys reliving its past glories — it rarely takes a breather immediately after breaking all-time highs. Back in 2017 and 2021, it rallied for 3–6 months post-ATH. That’s longer than some relationships! 💔

Our current escapade, beginning in late 2024, is looking a lot like that déjà vu moment. The steep climb past $120K feels bold and brash — a nostalgic throwback to good ol’ Bitcoin days.

If prior patterns repeat, Bitcoin could keep climbing toward the sparkling peaks of Q4 2025 before deciding it’s time for a significant nap. 💤 So, while momentum might feel a bit flaky at times, the grand $135K vision remains tantalizingly within reach.

Derivatives: Controlled Chaos?

The derivatives market weighs in, suggesting optimism remains (thank heavens!). 🍀

Open Interest has surged past $41 billion — yes, you heard that right — signaling enthusiastic participation but without the “hold my beer” level of recklessness. Not today.

Importantly, the Aggregated Funding Rate is hovering at a cozy 0.0183, which means traders are bullish but not wildly so. Phew!

No spikes in Funding Rates here. It appears this rally isn’t fueled by reckless optimism but by a healthy dose of realism. A refreshing change, really.

So, combining this steady price climb with historical patterns, it’s safe to say Bitcoin’s journey toward $135K is still in the making — no signs of a topping out party just yet! 🎈

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2025-07-16 07:09