Bitcoin At $108K? BlackRock Thinks It’s Just Getting Started

BlackRock + Chart Signals: Why Analysts See Bitcoin Breaking Out Toward $130K

Bitcoin’s price touched $108,000 today, but for many analysts and institutional investors, this is just the start of a bigger wave. Behind the headlines, chart signals are flashing, BlackRock’s Bitcoin ETF is absorbing supply at record speed, and cycle indicators suggest BTC may be undervalued even at these levels. The combination is setting the stage for what some experts are calling the “next major breakout,” with a price target in the $128,000–$130,000 range.

Here’s why this might be your last window to accumulate Bitcoin before its next potential surge.

Bitcoin Today: Holding at $108,000, but Far from Overheated

As of today, Bitcoin is trading around $108,000, with intraday volatility typical of recent months. However, the story beneath the surface is more compelling. According to data from CoinMarketCap, Bitcoin’s 200-day moving average is significantly lower, keeping the Mayer Multiple, a key market cycle indicator, at just 1.1x.

Historically, Bitcoin enters an “overheated” phase when the Mayer Multiple crosses above 1.5x, typically followed by sharp corrections or consolidations. The current reading suggests Bitcoin is still in a safe accumulation phase, with room to run before major market froth sets in.

Technical Patterns Signal Imminent Breakout

Technical analysts are closely watching two powerful patterns forming simultaneously:

1. Bollinger Band Squeeze

Mister Crypto and other on-chain analysts have highlighted a rare Bollinger Band squeeze in Bitcoin’s chart. The last three times this volatility compression occurred — December 2022, October 2023, and late 2024 — Bitcoin surged between 80% and 160% in the subsequent weeks.

Source: X

Current Bollinger Band width is at comparable lows, suggesting that Bitcoin could be preparing for another explosive upward move, adding momentum to predictions of a breakout toward $130,000.

2. Wyckoff Expansion Phase

Overlaying the Wyckoff Market Cycle on Bitcoin’s current trajectory, analysts suggest BTC is now in Wave 3 of a classic five-wave bull cycle:

• Wave 3 target: $128,000–$130,000

• Wave 4 pullback: $118,000–$120,000

• Wave 5 extension: $132,000–$136,000

This pattern aligns with Bitcoin’s cyclical nature, historically following major accumulation phases with sharp rallies. The alignment of the Bollinger Band squeeze and Wyckoff Expansion Phase further strengthens the bullish thesis for a breakout to $130,000.

BlackRock’s Bitcoin ETF Hits 700,000 BTC: A Supply Shock in the Making

While technical signals are bullish, institutional momentum is providing fundamental support for Bitcoin’s current rally.

BlackRock’s iShares Bitcoin ETF recently surpassed 700,000 BTC under management, accounting for more than 3.5% of all Bitcoin in circulation. This aggressive accumulation has created a supply shock, as fewer coins remain available on exchanges for retail and institutional buyers.

The steady flow of Bitcoin into BlackRock’s ETF, driven by demand from pensions, endowments, and other institutional investors, is reducing liquidity in the spot market. This structural reduction in available supply is a key factor supporting Bitcoin’s upward trajectory, providing a floor under its price during market dips.

ETF Revenue Impact and Market Sentiment

BlackRock’s BTC ETF not only soaks up supply but also generates substantial revenue from fees, which the firm may reinvest to expand its crypto-related offerings. As more institutions adopt Bitcoin ETFs, including products from Fidelity, Grayscale, and ARK Invest, the competition for available BTC intensifies.

Analysts argue that ETF-driven accumulation is one of the most significant bullish factors for Bitcoin in this cycle, amplifying demand while keeping supply limited. The result is upward price pressure, supporting the BTC $130K prediction circulating across the crypto community this quarter.

The Market Context: Inflation, Rates, and Crypto Demand

Bitcoin’s current rally is also being fueled by macroeconomic factors. With inflation remaining above central bank targets globally and interest rate cuts on the horizon, investors are seeking assets that can hedge against fiat currency debasement.

Crypto markets have historically responded positively to dovish monetary policy. With the Federal Reserve signaling potential rate reductions later this year, the crypto community sees Bitcoin as a hedge and growth asset, further validating its price momentum.

Why Analysts Say $130K Could Be Next

All these factors are converging toward a potential breakout scenario:

• Technical Analysis: Bollinger Band squeeze and Wyckoff Expansion indicate imminent price acceleration.

• On-chain Data: Mayer Multiple shows BTC is not yet overvalued, signaling room for further growth.

• Institutional Demand: BlackRock’s ETF accumulation creates a supply shock, tightening liquidity.

• Macro Environment: Inflation concerns and potential rate cuts are pushing investors toward Bitcoin as a hedge.

Top analysts suggest that if Bitcoin can close above the $110,000 resistance level this week, it may trigger the final catalyst for a rally toward the $128,000–$130,000 price zone, potentially even within the month.

Should You Buy Bitcoin Now?

Investors often wonder whether it is too late to buy Bitcoin when prices approach new highs. However, historical data suggests that major rallies typically occur after prolonged consolidation phases. Analysts argue that despite trading at $108,000, Bitcoin’s current price may still be undervalued relative to its projected trajectory this cycle.

Of course, all investments carry risks, and crypto markets are known for their volatility. Investors are encouraged to conduct thorough research and consider dollar-cost averaging to mitigate the risk of market timing.

Conclusion: A Potential Historic Run Ahead

Bitcoin’s current positioning at the intersection of bullish technical patterns, institutional accumulation, and macroeconomic support makes the case for a potential historic run toward $130,000.

If you’re a trader, this could represent a high-probability momentum setup. If you’re a long-term investor, these market conditions may offer a rare opportunity to accumulate before the next major upward leg.

With BlackRock’s ETF now holding over 700,000 BTC and chart signals flashing green, Bitcoin could be on the brink of its next breakout. Whether it happens this week or in the coming months, the convergence of factors makes it worth watching closely.

Stay tuned to the latest Bitcoin news and price analysis, and always remember: in crypto, timing and patience often determine the difference between watching history and being part of it.

Writer @Ellena

Ellena is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

 Check out other news and articles on Google News

Disclaimer:

The articles published on hokanews are intended to provide up-to-date information on various topics, including cryptocurrency and technology news. The content on our site is not intended as an invitation to buy, sell, or invest in any assets. We encourage readers to conduct their own research and evaluation before making any investment or financial decisions.

hokanews is not responsible for any losses or damages that may arise from the use of information provided on this site. Investment decisions should be based on thorough research and advice from qualified financial advisors. Information on HokaNews may change without notice, and we do not guarantee the accuracy or completeness of the content published.