Bitcoin Price Forecast: BTC May Hit $135K Before Major Correction, Analysts Say

Bitcoin’s recent price surge has reignited bullish forecasts across the crypto market, with analysts projecting the flagship digital asset could reach $135,000 before entering a corrective phase.

After spending nearly two months in consolidation, BTC broke out on July 8 to set a fresh all-time high of $122,871 on Coinbase, before pulling back slightly below $120,000. This breakout from a prolonged sideways trend has analysts reevaluating Bitcoin’s short-term trajectory.

Katie Stockton, founder and managing partner at Fairlead Strategies, said her firm’s technical models project a climb to $135K in the intermediate term. “Our breakout-based model suggests continued upside before any pullback,” she told CNBC.

Katie Stockton makes big Bitcoin price prediction on CNBC. Source: CNBC

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Multiple Analysts Support Bullish Outlook

Stockton’s projection aligns with a growing chorus of bullish voices in the market:

• Markus Thielen of 10x Research noted that July's breakout signal has historically led to 20% rallies within two months, placing Bitcoin’s next stop around $133,000.

• Nick Ruck, director at LVRG Research, added that $150,000 remains the next psychological target for investors this cycle, barring any unexpected “black swan” events.

• Technical analysts widely cite the $132K–$138K range as a likely resistance zone before upward momentum slows.

The price surge has also pushed Bitcoin’s market cap to $2.4 trillion, overtaking Amazon to become the fifth-largest global asset by value.

What’s Driving the Rally? Institutional Inflows, Not Retail Hype

Despite its record-breaking price, Bitcoin’s rally still appears to be largely institutionally driven, rather than fueled by retail investors.

Nic Puckrin, founder of The Coin Bureau, pointed out that typical indicators of retail interest—such as surging search trends and crypto app downloads—remain subdued. “Retail hasn’t arrived yet,” he said. “We may not see widespread FOMO until BTC nears $150,000.”

This suggests the current market structure is more stable than previous bull runs, which were often marked by speculative frenzy.

Bitcoin market cap compared to major asset classes. Source: James Lavish 

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Bull Flag Breakout: What the Charts Say

Bitcoin’s breakout also coincides with a bullish technical formation—a bull flag—which typically signals continuation. Analysts suggest this pattern supports a near-term price objective in the $130K region.

In breaking through a seven-year resistance trendline, Bitcoin has invalidated one of the strongest long-term ceilings that has capped rallies since 2018. This technical milestone adds credibility to the $130K–$135K price targets now dominating trader forecasts.

Conclusion: How High Can Bitcoin Go Before the Next Pullback?

The consensus among leading analysts is that Bitcoin still has room to run, with $135,000 emerging as a key level before any significant market correction. As institutional capital continues to pour in and retail interest remains muted, BTC's price action appears to be driven by strong fundamentals.

However, the path to $150K and beyond will depend on whether retail investors enter the market—and if macroeconomic conditions remain supportive.