Bitcoin Could Hit $135K Before Entering a Correction, Says Analyst

Bitcoin’s historic rally has caught the attention of market analysts once again, with fresh forecasts suggesting the world’s largest cryptocurrency could hit $135,000 before a significant price correction occurs. This outlook comes from Katie Stockton, founder and managing partner at Fairlead Strategies, who shared her insights during an interview on CNBC.

Bitcoin reached a new all-time high of $122,871 on Coinbase on Monday before slightly retracing below $120,000 in early Tuesday trading. Despite the pullback, technical analysts remain optimistic about the coin’s intermediate-term potential.

Breakout Pattern Signals Higher Price Targets

Stockton explained that Bitcoin’s recent breakout from a multi-week sideways trend has triggered a “measured move projection.” This technique, commonly used in technical analysis, estimates future price targets based on the size of the previous breakout.

According to her projection, if Bitcoin’s momentum continues without a major reversal, the cryptocurrency could reach $135,000 before entering a correction phase.

“That puts Bitcoin at around $135,000 as an intermediate-term objective,” Stockton told CNBC.

She added that Bitcoin-related stocks such as Coinbase and Strategy (formerly MicroStrategy) are likely to benefit from this rally, and noted that other major cryptocurrencies like Ethereum and XRP are also showing strong price action.

Other Analysts Share Similar Targets

Katie Stockton is not alone in her bullish outlook. Multiple analysts have released similar projections following Bitcoin’s July 10 breakout.

Markus Thielen, head of research at 10x Research, said that breakout signals like this have historically led to a 20% rally over the following two months. His firm now expects Bitcoin to reach $133,000, with a year-end target still standing at $160,000.

Meanwhile, Nick Ruck, director at LVRG Research, pointed out that many investors are targeting $150,000 as the next major milestone for Bitcoin.

“We remain optimistic that Bitcoin can continue, pending no sudden black swan events,” Ruck added.

Technical analysts at Cointelegraph have also highlighted $132,000 to $138,000 as a “reasonable short-term target” based on chart patterns. The current setup appears to resemble a bull flag, a formation that often precedes strong upward moves.

Institutional Capital Still Leading the Charge

One surprising factor about this rally is the limited participation from retail investors. According to Nic Puckrin, founder of The Coin Bureau, the current surge is still largely driven by institutional capital rather than retail enthusiasm.

“Retail buyers are nowhere to be seen yet. This rally is still driven by institutional capital, while the typical signs of retail involvement — soaring search traffic and crypto app rankings — are absent,” he said.

Puckrin believes that the Fear of Missing Out (FOMO) from retail traders may not kick in until Bitcoin climbs closer to the $150,000 mark.

Bitcoin Flips Amazon in Market Value

Bitcoin’s latest breakout has significantly boosted its market capitalization, which now stands at around $2.4 trillion. This surge has pushed BTC past Amazon, making it the fifth-largest asset globally by market cap.

Despite this major milestone, Bitcoin still represents a small share compared to traditional asset classes like equities, gold, and real estate. James Lavish, co-founder of the Bitcoin Opportunity Fund, emphasized that even with the recent gains, Bitcoin is still a “minnow” when compared to the broader financial markets.

What Comes Next for BTC?

With most technical indicators still favoring bulls, analysts believe Bitcoin has room to move higher. However, some are warning of potential near-term consolidation, especially as traders look to lock in profits after a strong run.

A short-term correction could also be healthy for the market, setting the stage for a more sustainable uptrend.

As long as there are no unexpected macroeconomic shocks or regulatory setbacks, Bitcoin could continue to rally — particularly if spot ETF inflows and institutional demand remain strong.

Key Levels to Watch

• Support Zone: $117,000–$120,000

• Intermediate Target: $133,000–$135,000

• Major Resistance: $150,000

• Year-End Target (10x Research): $160,000

Bitcoin’s path to $135K looks increasingly likely, with multiple analysts converging around this level as the next key milestone. While a correction may follow, the broader sentiment remains bullish, driven by growing institutional involvement and macroeconomic tailwinds.

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