Bitcoin Surges to New Heights: What’s Next for the Cryptocurrency?

Jakarta, Pintu News – Bitcoin is again in the spotlight following its recent record high price of $123,091.61 set on July 14. As per reports from July 18, the price has dipped slightly to $120,000, down about 2% from its peak. While this minor decline may raise some eyebrows, market confidence seems largely intact. So, what’s the next move for Bitcoin?

Bitcoin Price Rises 1.96% in 24 Hours

As of July 18, 2025, Bitcoin was trading at $120,442, equivalent to IDR 1,959,933,403. This marked a 1.96% increase over the last 24 hours. Within this timeframe, Bitcoin experienced fluctuations, dipping to a low of IDR 1,920,203,560 before soaring to a high of IDR 1,976,167,786.

According to CoinMarketCap, Bitcoin’s market capitalization now stands at approximately $2.39 trillion, with its 24-hour trading volume rising by 2% to $72.4 billion.

Is Bitcoin maintaining its bullish momentum or are we witnessing a correction?

Bitcoin Remains Very Bullish

On the weekly chart, Bitcoin continues to display stability above the $115K mark, which acted as a crucial support area during its previous consolidation phase. This week, Bitcoin ranged between $122,056 and $115,701, creating a zone of considerable interest for traders.

The short-term bias remains bullish, as Bitcoin has successfully broken out of the resistance area, forming a strong green candle without facing notable resistance. This ongoing strength indicates that buyers remain in control and market sentiment is optimistic.

Indicators Paint a Bullish Outlook in the Short Term

From a technical standpoint, Bitcoin’s price positioning above all major exponential moving averages (EMAs) indicates continued uptrend potential. The 20-week EMA is currently situated at $102,555, while the longer-term EMAs are significantly lower: the 50-week EMA is at $89,887, the 100-week EMA stands at $74,473, and the 200-week EMA is at $58,432. Being well above these levels confirms sustained bullish inclination.

Furthermore, the Relative Strength Index (RSI) currently rests at 70.54, placing it in the overbought zone. This suggests that a minor correction or pause may be on the horizon. However, it’s worth noting that in a strong bullish trend, the RSI can remain elevated for an extended period before a significant downturn occurs.

Volume is also starting to increase. Though not explosive, the 24-hour volume of $39.68 million indicates heightened participation in the market, which typically fosters price discovery.

The support and resistance levels are increasingly pronounced. Should Bitcoin breach the resistance at $122K, the next target lies between $125K to $130K. Conversely, maintaining a position above $115K is crucial; a fall beneath this threshold could trigger deeper corrections towards $102K, aligning with the 20-week EMA.

Bitcoin’s Long-Term Outlook Remains Positive

Despite the short-term price adjustments, the long-term outlook for Bitcoin seems overwhelmingly optimistic. Various predictive models suggest continued high growth potential. For instance, Changelly anticipates that Bitcoin could close 2025 at an average of $135,307.03, with a possible drop to $100,164.58 and a peak prediction of $117,735.81.

In contrast, Digitalcoinprice exhibits a more bullish stance, projecting Bitcoin prices could soar to $256,284.22 by 2025. They also estimate a potential Return on Investment (ROI) of nearly 104% from the current price, positioning Bitcoin as a significant asset for long-term gains.

This outlook is supported by demand from institutions, inflows from Exchange-Traded Fund (ETF) products, tight supply, and an increasing adoption rate. As Bitcoin continues to be perceived as digital gold or an inflation hedge, demand could easily outstrip supply.

In recent months, the halving event has reduced new coin circulation, adding upward pressure on the price as fewer new Bitcoins enter the market.

Follow the Crypto Wave

Stay updated with the evolving landscape of cryptocurrency by following reputable news sources. Regularly checking platforms like Pintu will keep you informed about Bitcoin and various other crypto assets. Whether you trade Bitcoin or simply want to understand market movements better, accessing real-time data through reliable channels will enhance your trading experience.

Enjoy easy and secure crypto trading by downloading the Pintu app, where you can leverage a suite of advanced trading tools for a seamless trading experience.

Note: The information in this article is for informational purposes only and does not constitute investment advice. Always do your own research before investing in cryptocurrencies, which come with their own risks and volatility.