Bitcoin holds above $120K mark: What's next?
Bitcoin is chilling at $121,410, holding between $120K and $126K after smashing a record high of $126,200 on October 6.
That's a 10% jump in just nine days, and the price has actually doubled since last year—mostly thanks to big investors jumping in and clearer crypto rules.
Meanwhile, top altcoins like Ethereum have slipped over 2%.
Traders eye $120K-$126K range
Bitcoin staying above its old all-time high is a big deal for traders.
The $120K-$126K range is now the hot zone everyone's watching—if Bitcoin pushes higher, we could see it head toward $135K or even $145K by late 2025.
But if it drops below $120K, there might be a quick dip before bouncing back.
Bitcoin's recent surge
The surge is being driven by major ETF investments and hopes that US interest rates will drop soon.
Institutional investors and global economic policies are now shaping Bitcoin's moves more than its usual four-year cycles.
Even with some sideways trading lately, strong demand behind the scenes suggests people aren't losing interest.
US inflation data to influence Bitcoin's next move
All eyes are on upcoming US inflation (CPI) data.
If inflation comes in lower than expected, Bitcoin could get another boost. But if prices stay stubbornly high, crypto might see a short-term pullback.
Either way, what happens next will set the tone for where Bitcoin heads in the near future.