Bitcoin Weekly Breakout Boosts $1M Prediction by Samson Mow
Bitcoin has logged its strongest weekly close since May after a decisive breakout above the $118,000 resistance zone. With minimal overhead barriers until the $150,000–$200,000 range, bullish momentum and rising trading volumes point to sustained upside. On-chain data shows robust ETF inflows and growing supply in illiquid wallets, indicating that long-term holders are unlikely to sell and tightening market supply. Institutional demand via Bitcoin ETFs continues to boost liquidity and net inflows. Analyst and industry veteran Samson Mow has reaffirmed his $1 million Bitcoin forecast, suggesting that adding a zero is now a matter of timing rather than speculation. Potential catalysts include regulatory clarity, broader ETF adoption, macroeconomic shifts, and network upgrades. Traders should consider entry near support levels, monitor technical triggers and macro flows, and apply risk management to navigate ongoing volatility.
Bullish
The decisive weekly breakout above $118,000, combined with the strongest close since May, signals renewed bullish momentum in Bitcoin. Rising trading volumes confirm buyer conviction, while on-chain data—highlighting ETF inflows and increased illiquid supply—suggests reduced selling pressure and tighter market supply. Institutional demand via ETFs adds liquidity and reinforces net inflows, strengthening the bullish case. Samson Mow’s reaffirmed $1 million target further boosts market sentiment, framing a high-end price scenario as a timing issue rather than pure speculation. In the short term, traders can capitalize on momentum and monitor technical support levels for entries. Over the long term, regulatory clarity, broader ETF adoption, macroeconomic shifts, and protocol upgrades could sustain upward pressure, making the outlook predominantly bullish.