- Bitcoin price finds strong support at $105K–$110K, and technical indicators hint at a possible surge to $130K–$150K.
- Senator Cynthia Lummis reveals former President Trump supports her bill for the U.S. to buy 1 million BTC.
- On-chain data shows whales are not selling, with profit metrics and accumulation patterns suggesting bullish momentum.
Bitcoin price has risen 2.1% in the last 24 hours to trade at $116,704 as of 1:06 a.m. EST on a 29% surge in trading volume to $39.7 billion.
This happens as Senator Cynthia Lummis says President Trump is backing her bill to have the U.S. buy 1 million BTC. If this pans out, it would be a game-changer as government adoption could pump BTC to new ATHs (all-time highs) by pushing demand through the roof, especially with institutional FOMO kicking in.
Digging deeper, Sentora’s on-chain analysis drops some data, which shows that whales are currently holding steady, with on-chain profit metrics suggesting they’re not selling yet. The current data shows some very significant spikes in the last month. This pattern has been observed frequently in recent months and often coincides with Bitcoin ETF accumulation and increases in Bitcoin price.
This stability, paired with the Trump-Lummis hype, could mean a slow grind upward as confidence builds. If BTC holders maintain their stance, we might see a squeeze pushing BTC past $130,000 by the end of Q3.
Bitcoin Price Finds Support, Eyes 68% Surge
BTC’s current price is hovering around $116,397, with a slight dip of 0.93% in the last 3 days. The 50-day SMA (Simple Moving Average) sits at $101,726, while the 200-day SMA is at $78,030, indicating the Bitcoin price is bullish.
The Relative Strength Index (RSI) is at 60.61, just below overbought territory, but it is consolidating, so there’s room to run before we hit exhaustion. The Moving Average Convergence Divergence (MACD) shows a bearish crossover, hinting at momentum slowing down.
There is a solid support zone around $105,000 – $110,000, with a recent bounce suggesting buyers are stepping in. Those trendlines (green, red, and blue) show uptrend potential and may provide support if BTC drops below the $105,000-$110,000 support.
The green line is a short-term bullish slope, while the blue one projects a longer-term climb toward $122,054 (the high). If BTC breaks that, it could surge to $140,000 by late 2025.
Nevertheless, investors must be cautious of pullbacks to $93,726.69 if bears gain strength.
BTC Price Prediction: Where Is Bitcoin Headed?
Based on the chart and news, Bitcoin has a chance at hitting $130,000-$140,000 by the end of 2025. Short-term, BTC might chop around $115,000-$122,000 as profit-takers test the waters. If the Trump bill passes, though, we could see a rally to $150,000 by the end of 2025.
Conversely, a drop below $101,000 could trigger a bearish flip, especially if macro factors (like interest rates) tighten. For now, the support at the 50-day SMA looks like a fortress.
Final Thoughts
This chart and the market buzz paint a bullish picture for BTC. With Senator Lummis hyping Trump’s BTC buy-in and on-chain data showing whale confidence, the market may be primed for a lift-off.
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