Bitcoin Needs to Break $116,000 Barrier for Reaching New All-Time Highs

Market Under Pressure

Bitcoin is currently trading around $114,426, with slight fluctuations observed over the past 24 hours. In the top 10 cryptocurrencies, Ethereum and Solana are showing gains exceeding 3%, though insufficient to trigger a genuine trend reversal.

Despite these encouraging elements, the bull market is struggling to restart. Last week, the climate darkened after disappointing US employment data was published, reviving recession fears, or even concerns about stagflation – a problematic combination of high inflation, stagnant growth, and high unemployment. In this context, an interest rate hike to control inflation could risk intensifying the economic slowdown.

$116,000 : The Threshold to Break

Despite these uncertainties, some indicators remain encouraging : US growth is around 2%, inflation remains moderate, and unemployment stays at historically low levels. These conditions are generally favorable for a crypto market recovery. However, investors are still waiting for a strong catalyst to trigger a genuine bullish recovery. For now, no major event seems scheduled in the short term.

According to analyst Rekt Capital, Bitcoin will need to break through $116,000 to validate a trend reversal. This level marks the top of a recently filled CME Gap, an important technical volatility zone. Breaking through this symbolic threshold could confirm the end of the current correction and pave the way for a possible return of the bull run. It thus represents a key step toward new all-time highs.

How to Buy Bitcoin on Bitget ?

Here’s a guide to acquiring Bitcoin before its potential rise to $130,000 in August :

1. Sign up on Bitget : Create an account on Bitget via their website or mobile app. Complete KYC verification to unlock all features.
2. Deposit funds : Transfer USDT, USDC, or another cryptocurrency from an external wallet or another exchange to your Bitget account.
3. Find Bitcoin : Access the “Spot” section and search for the BTC/USDT pair. Check the current price.
4. Place an order : Choose a market order for immediate purchase or a limit order to set a target price. Indicate the desired BTC amount and confirm.

Why Choose Bitget for Bitcoin Trading ?

Bitget is a popular platform for trading Bitcoin (BTC) thanks to its major advantages :

1. Wide Range of Cryptos : Over 600 cryptocurrencies, including BTC and altcoins like HYPE, to diversify your investments.
2. Copy Trading : Replicate expert traders’ strategies, ideal for beginners, with transparent performance metrics.
3. Advanced Security : Hot/cold wallets, monthly proof of reserves, and access keys to protect your funds.
4. Automated Trading : AI bots (Spot Grid, Martingale) to optimize your trades, even in volatile markets.
5. Attractive Fees : Free SEPA deposits and fee-less P2P trading to buy BTC at lower costs.
6. Intuitive Interface: Mobile application and simple interface for all levels, with 24/7 customer support.

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