Bitcoin Hits $112K, Analysts Predict Rally to $133K
Bitcoin surged past its May downtrend to reach a new all-time high of $112,000 on July 9, driven by a bullish cup-and-handle breakout and strong institutional demand. On-chain metrics, including a Crypto Fear & Greed Index reading of 71 and muted altcoin activity, underscore Bitcoin’s renewed strength. Spot Bitcoin ETFs recorded about $1.04 billion in inflows in July, highlighting growing institutional leadership. Meanwhile, options flow data show traders moving into call positions after large expirations, signaling further upside.
10x Research’s Markus Thielen warns that many holders remain underallocated ahead of a potential rally. His trend model assigns a 60% probability of continued gains over the next two months, projecting a 20% advance to roughly $133,000 by September. Key catalysts include U.S. inflation data on July 15 and supportive policies during U.S. Crypto Week. Analysts such as Jelle and Rekt Capital also turned bullish, though some caution that extreme optimism can precede pullbacks. Overall, robust technicals, strong ETF demand and positive options flow set the stage for a sustained Bitcoin rally.
Bullish
Bitcoin’s breakout to a $112K all-time high, coupled with over $1 billion in spot ETF inflows and bullish options flow, indicates strong short-term momentum. The 10x Research trend model’s 60% probability of further gains and upcoming catalysts—U.S. inflation data and Crypto Week policies—support a continued rally toward $133K. While heightened sentiment can sometimes precede pullbacks, the combination of technical strength, institutional demand and positive on-chain signals underpins a predominantly bullish market outlook for both near-term trading and longer-term positioning.