Bitcoin Bulls Target $150K After Price Hits New All-Time High of $112K

Bitcoin Breaks Records—Is $150K Next?

Bitcoin (BTC) hit a new all-time high of $112,000 on Wednesday, reigniting bullish momentum and prompting top analysts to predict a potential move to $150,000 in the near term.

“See you at $150K,” said Milk Road co-founder Kyle Reidhead in a post on X, citing a classic “cup and handle” chart pattern. Reidhead had previously pointed to the bullish formation as a potential launchpad for BTC’s next big rally.

Timing Was Crucial: Bitcoin Avoided a Long Wait

The breakout comes just in time. Economist Timothy Peterson warned earlier this week that if Bitcoin didn’t reclaim its all-time high soon, the next major opportunity might not arrive until October.

The spike to $112,000 followed two weeks of tight consolidation, which had left many analysts skeptical of Bitcoin’s near-term strength. The move is now being seen as a technical breakout and a shift in market sentiment.

Market Indicators Turn Bullish

• Crypto Fear & Greed Index surged to 71, indicating growing bullish sentiment and landing in the “Greed” zone.

• The Altcoin Season Index from CoinMarketCap remains low at 26/100, signaling the market is still firmly in Bitcoin Season.

• Technical analyst Matthew Hyland confirmed the breakout, noting that BTC has formed a “daily higher high,” ending a downtrend that began in late May.

“Bulls are in control,” Hyland stated.

The Crypto Fear & Greed Index is now sitting at the same score it was 30 days ago. Source: Alternative.me

Related: Bitcoin Eyes New Highs as U.S. Dollar Index Hits 21-Year Lows

What’s Driving the Momentum?

A combination of macro and institutional factors appear to be fueling the rally:

• $1.04 billion in inflows into U.S.-based spot Bitcoin ETFs during July alone (Farside data)

• Buying activity is being driven mostly by institutions, not retail, according to Coinstash co-founder Mena Theodorou

• Despite global uncertainty, Bitcoin remains resilient in the face of rising geopolitical and trade tensions

“The most crucial shift is who’s buying,” noted Hyland. “Institutions are driving momentum.”

Caution Remains as Liquidations Rise

Not everyone was prepared for the breakout.

On Tuesday, Bitfinex analysts said traders were still cautious, with Bitcoin struggling to gather enough strength to cross the previous record high. Now, those bearish bets are being tested:

• $217.55 million in BTC short positions were liquidated in the past 24 hours (CoinGlass)

• $1.6 billion in shorts are still exposed if Bitcoin rallies toward $115,000

• Santiment’s sentiment ratio hit a three-week high Tuesday, though past spikes on June 11 and July 7 were followed by pullbacks

“While momentum is strong, extreme optimism can sometimes precede corrections,” warned Santiment analyst Brian Quinlivan.

What’s Next for Bitcoin?

Bitcoin currently trades around $111,383, just under its fresh ATH, and technical charts suggest more room to run. If buying momentum continues and institutional inflows sustain, $150,000 could be in sight.

But with leveraged short positions building up and sentiment overheating, volatility is likely to increase. Traders are now watching closely for the next resistance test at $115,000.

Related: Bitcoin’s $110K Line in the Sand—LF Labs PoS Brings Crypto to Checkout

Key Takeaways

• Bitcoin hit an all-time high of $112,000

• Bullish analysts predict a surge to $150,000

• Institutional inflows and ETF demand are driving growth

• Short liquidations and sentiment spikes raise caution