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What’s next for Bitcoin after hitting a new ATH? Check forecast

Key takeaways

  • BTC set a new all-time high of $125,559 on Sunday. 
  • The coin rallied by 10% in the last seven days and could rally higher in the near term.

Bitcoin sets a new all-time high of $125k

Bitcoin, the number one cryptocurrency by market cap, rallied by 10% last week to reach a new all-time high of $125,559 on Sunday. At press time, BTC is trading at around $123,900, down 1.3% from its all-time high.

The rally comes amid growing institutional interest in Bitcoin and related products. Last week, spot Bitcoin ETFs in the United States recorded an inflow of over $3 billion. The surge in inflows for spot Bitcoin ETFs can be attributed to the ongoing shutdown of the United States government.

The shutdown has seen investors turn to risk-based assets like Gold and Bitcoin, with both assets hitting new all-time highs in the last 48 hours. With the Fed rate decision to come later this month, analysts are optimistic that Bitcoin will hit the $130k mark over the next few days or weeks. 

BTC eyes $130k as bullish trend grows stronger

The BTC/USD 4-hour chart is bullish and efficient as Bitcoin has performed excellently over the last few days. The bullish trend could see Bitcoin rally higher in the near term. 

The momentum indicators are currently bullish, with the Relative Strength Index (RSI) reading 70. The Moving Average Convergence Divergence (MACD) also showed a bullish crossover last week.

BTC/USD 4H Chart

If BTC continues its rally, it could surge towards the next key psychological level at $130,000. However, it needs to overcome its all-time high of $125k before it can rally higher.

If the bulls fail to push BTC higher, the coin could face a correction and retest the support at $119k. The next major support level at $117k could serve as a strong base for the bulls in the near term.

The post What’s next for Bitcoin after hitting a new ATH? Check forecast appeared first on CoinJournal.

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SOL could break out to a new ATH amid positive on-chain data

Key takeaways

  • Solana is down 1.4% and trading above $230.
  • The coin could rally to a new all-time high as on-chain and derivatives data turn positive.

SOL’s rally could be prompted by positive on-chain and derivatives data

SOL, the native coin of the Solana blockchain, added 11% to its value over the last seven days, making it one of the best performers in the top 10. The rally allowed SOL to top the $230 mark, with analysts now predicting new highs for the coin.

Data obtained from DeFiLlama revealed that Solana’s stablecoin market capitalization currently stands at $15.11 billion. This record comes as its stablecoin market cap has been steadily rising since mid-September. 

In addition to that, Solana’s Total Value Locked rose from $10.78 billion on September 28 to now stand at $12.69 billion, nearing its record highs of $13.02 billion. The rising TVL suggests growing activity and interest within the Solana ecosystem, including memecoins, DeFi, and stablecoins. More users are depositing and utilizing assets within SOL-based protocols.

Finally, on the derivatives aspect, Solana’s OI-Weighted Funding Rate data shows that more traders are betting on SOL’s price rallying higher in the near to medium term. According to CoinGlass, the OI has flipped a positive rate on Saturday and reads 0.0052% on Monday. Historically, once the funding rates flip to positive, SOL’s price has rallied sharply.

Bulls aiming to establish a new all-time high

The SOL/USD 4-hour chart is bullish and efficient after Solana found support around the 61.8% Fibonacci retracement level at $193.52 late last month. Since then, it has added 18% to its value and now trades at $233 per coin. 

SOL/USD 4H Chart

The RSI of 58 shows that the bulls have regained control, with the MACD lines also above the neutral zone, suggesting a bullish bias. If the support level at $230 holds, SOL could rally higher and set a new all-time high above $295. However, the RSI has to stay above 50 for SOL to sustain an upward momentum in the near term.

On the flip side, if SOL faces a correction after its recent rally, it could drop towards the 50-day Exponential Moving Average (EMA) at $213.36. The support at $203 will likely hold in the near term.

The post SOL could break out to a new ATH amid positive on-chain data appeared first on CoinJournal.

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Bitcoin shatters all-time high, surging past $125,000

  • Bitcoin has surged to a new all-time high, surpassing $125,750.
  • The rally follows a volatile September, with Bitcoin soaring over 9% in October.
  • The key $120,000 level has been successfully turned into a support base.

The king of crypto has reclaimed its crown in a stunning display of power and resilience.

Bitcoin has shattered its previous all-time high, blasting past the monumental $125,000 barrier in a powerful surge that signals the triumphant return of the bulls.

The record-breaking performance, which saw the cryptocurrency touch a staggering 125,750 dollars in early Sunday trading, is a defiant roar from a market that has shaken off the blues of a volatile September and is now charting a bold new course.

A fortress at $120,000: The anatomy of a breakout

This is not a random surge; it is a rally built on a powerful technical foundation.

The latest milestone comes after the market successfully defended the critical 120,000 dollar level, transforming what was once a ceiling of resistance into a solid floor of support.

This successful conversion was the final piece of the puzzle, the technical green light that has paved the way for this powerful new leg higher and reinforced investor confidence in the cryptocurrency’s long-term prospects.

The powerful upswing, which has seen Bitcoin’s value soar by over 9 percent in October alone, is a testament to the asset’s growing acceptance and its remarkable ability to rebound from periods of turbulence.

A flight to safety, a bet on debasement

The rally is not happening in a vacuum. It is being fueled by a potent cocktail of macroeconomic uncertainty and a growing narrative that the value of traditional fiat currencies is being eroded.

The ongoing US government shutdown has injected a deep sense of instability into the global financial system, a chaos that appears to be driving investors toward alternative stores of value.

This “dollar debasement narrative” is not just lifting Bitcoin; its effects are visible across the safe-haven spectrum.

Spot gold also advanced on Friday to 3,876.55 dollars per ounce, lifting its weekly gain to over 2 percent in a powerful parallel move.

“With many assets including equities, gold and even collectibles like Pokemon cards hitting all time highs, it’s no surprise Bitcoin is benefiting from the dollar debasement narrative,” said Joshua Lim, co-head of markets at the crypto prime brokerage firm FalconX, in a statement to Bloomberg.

As the world grapples with a new era of economic uncertainty, Bitcoin is once again making its case as a viable and powerful alternative.

The king is back on his throne, and the market is watching with bated breath to see just how high his new reign will take him.

The post Bitcoin shatters all-time high, surging past $125,000 appeared first on CoinJournal.