Bitcoin Price Forecast : New ATH or Correction ? What to Expect This Week

Bitcoin hits a new all-time high ! Surpassing $121,000 briefly, the leading cryptocurrency shows strong momentum. What are the next targets in its impressive rally ? Analysis.

Written by Charles Ledoux

Translated on July 14, 2025 at 10:00 by Marie

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Bitcoin Hits New All-Time High : Targeting $130,000?

Bitcoin has been making headlines in recent days, reaching unprecedented heights. The world’s leading cryptocurrency briefly surpassed the symbolic $121,000 threshold before stabilizing around $120,500, showing a gain of over 2.5% for the day. This performance is part of a bullish trend that began at the start of the month.

But beyond the numbers, what are the prospects for Bitcoin’s price evolution in the short and medium term ? Several technical indicators suggest that the current momentum is far from running out of steam.

Encouraging Signals for Continued Growth

One of the first positive signals lies in the Adjusted Spent Output Profit Ratio (aSOPR), which currently sits at 1.03. This level is well below what was observed in early July 2025, a period when massive profit-taking pushed the ratio up. This time, despite reaching new highs, Bitcoin holders seem more inclined to hold onto their assets rather than selling them for profit.

Bitcoin asopr chart — **Source: Glassnode**

This suggests that the current rise isn’t the result of excessive speculation, but rather a healthy dynamic driven by long-term investors.

Another encouraging indicator is the evolution of the On-Balance Volume (OBV). This metric is progressing in parallel with Bitcoin’s price, indicating that buying volume is indeed accompanying the ongoing rise. In other words, as Bitcoin climbs, volume follows, with no visible divergence that might signal a loss of momentum.

Key Resistance and Support Levels to Watch

From a technical perspective, Bitcoin is currently holding just below a key resistance level at $121,519, derived from the Fibonacci Extension based on the trend. If it manages to close above this threshold, the next targets would be $127,798 followed by $135,425. These are ambitious levels, certainly, but they remain consistent with the cryptocurrency’s past behavior.

Conversely, a short-term support level sits at $117,109, a breakout zone previously successfully crossed. The bullish trend would only be called into question if Bitcoin were to fall below $112,699, a key support level near its previous all-time high.

MVRV pricing bands STH Bitcoin chart — **Source: Checkonchain**

From an on-chain perspective, the MVRV Pricing Band for short-term holders indicates that BTC is facing resistance. The next resistance level is at $132,000.

Ultimately, with a low profit-taking ratio, solid trading volume, and a promising price structure, Bitcoin appears well-positioned to continue its ascent toward $132,000 in the coming weeks, provided it successfully breaks through the $121,000 resistance.

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Charles Ledoux

Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.

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