Bitcoin (BTC) Price Prediction: Bitcoin Eyes $160K Breakout—But Can the Rally Reach $500K as Forecasted by Top Financial Advisor?

Bitcoin surged today, extending its all-time highs and fueling renewed excitement in the crypto market.

With strong ETF inflows, bullish technical patterns, and optimistic long-term forecasts, analysts are split between near-term targets like $160,000 and bold predictions of $500,000. As Bitcoin holds firm above $118,000, market momentum suggests that BTC could be entering its next major growth phase.

Market Overview: Bitcoin Technical Analysis Signals More Upside

Bitcoin price today is trading near $118,030, having broken all-time highs three times this week. The strong bullish momentum, backed by rising institutional demand, has brought the next psychological resistance at $120,000 into clear view.

Trading volume has surged by 93% to $123 billion in the last 24 hours. Bitcoin’s RSI indicator sits at 72, pointing to strong buying pressure. According to technical analysis, BTC broke out of a bull flag pattern, a classic continuation signal. Based on the flagpole projection method, this sets an intermediate-term target of $160,000.

Bitcoin is showing strong momentum with technical indicators suggesting a potential breakout toward the $144,000+ level. Source: Fred971 on TradingView

“Bitcoin’s latest breakout confirms a bull flag structure, suggesting that this is just the beginning of a broader upside move,” said Alejandro Arrieche, an analyst at InvestingCube.

Short liquidations exceeding $1.1 billion also add fuel to the rally, squeezing out bearish bets and creating room for further gains. The next levels to watch are $119,000 as immediate resistance and $115,220 as a key support. A pullback to $110,000 could offer latecomers an entry point.

Institutional Demand and ETF Flows Fuel the Rally

Much of Bitcoin’s strength comes from Bitcoin ETF news. On Thursday, BTC spot ETFs saw $1.18 billion in net inflows, the second-largest daily inflow on record. Simultaneously, exchange outflows hit $583 million over seven days, a sign that selling pressure is easing.

Bitcoin (BTC) was trading at around $118,034 at press time. Source: Bitcoin Liquid Index (BLX) via Brave New Coin

Whale activity has also intensified, with transactions over $100,000 totaling $124.26 billion. This combination of institutional appetite and reduced exchange supply sets the stage for a supply crunch.

Meanwhile, the pro-crypto stance of the new U.S. administration, including a Trump-appointed SEC head, is boosting investor sentiment. The broader regulatory environment now appears more favorable for crypto innovation and ETF expansion.

Expert Insights: From Bull Flag to $500K Bitcoin Forecast

While the current focus is on short-term targets like $160,000, longer-term projections are making waves. Ric Edelman, a well-known financial advisor who accurately called previous Bitcoin cycles, has renewed his Bitcoin price prediction of $500,000 by 2030.

“If just 1% of global asset portfolios shift into Bitcoin, that would represent $8 trillion in inflows,” Edelman said in a recent interview. “Based on that math, Bitcoin could reach half a million dollars.”

Bitcoin reaching $500,000 is a plausible scenario based on straightforward arithmetic and market dynamics. Source: Ric Edelman via X

He recommends that financial advisors consider allocating between 10% and 40% of portfolios to crypto assets, with Bitcoin as the anchor. This approach positions BTC as a long-term inflation hedge and portfolio diversifier.

Meantime, Michael Saylor forecasts an even more aggressive target of $5 million per coin by decade’s end, contingent on continued institutional adoption and macroeconomic shifts.

BTC Long-Term Outlook: What’s Next for Bitcoin?

Bitcoin news today points to a clear shift in market dynamics. With the price holding above $118,000 and ETF demand accelerating, the groundwork for sustained growth appears solid.

The Bitcoin halving in 2025 is expected to further tighten supply, potentially catalyzing the next wave of upward momentum. Combined with whale accumulation, reduced exchange supply, and institutional adoption, the case for long-term appreciation strengthens.

Bitcoin’s weekly chart suggests continued upside potential, but a candle close above $118,900 is needed to confirm the next leg of the rally. Source: Olajireolapoju On TradingView

In the near term, maintaining support above $115,000 could lead to another leg up toward $160K. Longer term, if Edelman’s projections materialize, Bitcoin may gradually approach the $500,000 mark by 2030—transforming not only portfolios but the global financial landscape.

While price discovery brings volatility, the trajectory remains bullish. Whether Bitcoin tops out at $160K or marches toward $500K, the path forward looks increasingly institutional, strategic, and fundamentally sound.