Bitcoin Price Prediction: $130K in Sight After ‘Crypto Week’ Boost

Bitcoin (BTC) is once again hovering near its all-time high today as trading volumes have jumped by 13% in the past 24 hours upon breaking the $119,000 barrier, favoring a bullish Bitcoin price prediction.

The top crypto has booked gains of 16% in the past 30 days and reached a new record at $123,091 earlier this month ahead of the so-called ‘Crypto Week’ in the United States.

Now that Congress has passed two landmark bills – the Genius and Clarity Acts – the road seems paved to see BTC hitting a new price record in the next few days as bullish momentum has gained significant traction.

Short liquidations in the past 12 hours have been climbing to $60 million as the price action once again exhibits signs of resuming its upward path.

Meanwhile, open interest in BTC futures has not yet reached a new record but is quite close as the metric continues to stand above 700,000 BTC tokens. Measuring OI in BTC rather than USD helps to eliminate the distortion created by a higher price.

Trader CryptoDoc, whose X account is followed by nearly 80,000 users, shared an interesting chart that shows a bullish breakout of a key trend line resistance in the 2-hour chart.

If this breakout holds during the American session, BTC could experience a big push back to the $124,000 level in the near term.

Bitcoin Price Prediction: BTC May Retest This Key Support and Give Late Buyers a Great Chance to Enter the Rally

Looking at the daily chart, we can see that there has been some selling pressure at $120,000, possibly as traders have been cautious to cash out and take some profits off the table before a big pullback occurs.

Bitcoin currently sits 21% above its 200-day exponential moving average (EMA) while the Relative Strength Index (RSI) has been trending lower and has already moved below the 14-day moving average.

At this point, the odds favor a minor pullback to the $112,000 area – a former resistance that has now been turned into support. If the price gets to that level, it would provide a great entry for late buyers to cash in on this rally.

Bitcoin could raise the necessary liquidity at that point for its next leg up to the $130,000 area.

Meanwhile, one of the top crypto presales of the year linked to the top crypto, Bitcoin Hyper (HYPER), has raised more than $4 million to launch a powerful layer-two chain that fosters a new era for BTCFi.

Bitcoin Hyper (HYPER) Leverages the Efficiency of Solana to Bring BTC to DeFi

Bitcoin Hyper (HYPER) is a layer-two protocol for the Bitcoin network that leverages the scalability of the Solana blockchain to power the next era of Bitcoin’s DeFi.

The developing team has managed to raise more than $4 million already just a few months after the HYPER presale kicked off. This reflects investors’ strong interest in the protocol’s use case.

Once top wallets and exchanges start to embrace this solution, the demand for $HYPER as the governance and utility token of Bitcoin Hyper will skyrocket.

The buy $HYPER at its discounted presale price and reap the highest returns, head to the Bitcoin Hyper website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH for this token or use a bank card to invest.

Alejandro Ar