Bitcoin Price Prediction – Breakout to $125K, Ethereum to Surge to New Highs

The crypto market is winding up for something big, and traders are on high alert. Bitcoin is flirting with a major breakout, and Ethereum just reclaimed a price level it hasn’t touched since late 2023. With both BTC and ETH pushing toward key resistance levels, a broader altcoin revival might not be far behind. Bitcoin is preparing for new all-time highs, and alt season is set to continue. Is it time to buy Bitcoin and crypto assets?

Bitcoin is playing a patient game. After bouncing back from a dip below $117,000 on Friday, BTC closed in on $118,500 by Sunday night, holding firm just under all-time highs. But traders aren’t here for modest gains. The setup is textbook technical tension in a narrowing triangle, with a sharp move imminent.

BTC closed in on $118,500 by Sunday night, Source: Bitcoin Liquid Index

BTC is preparing for its next big move,” said trader Troy Miller on X. “Bitcoin is holding steady above $117K support, but it’s being squeezed tighter every day. Something will give.”

Miller isn’t alone in spotting the pressure building. Rekt Captial’s chart highlights the symmetrical triangle pattern on BTC/USDT, a classic formation that often precedes violent breakouts or breakdowns. If the bullish case plays out, Bitcoin could rocket to $125,000. But if it cracks below support, a swift fall to $111,000 or lower is on the table.

“Bitcoin remains in a consolidation range,” he wrote, noting that this pause is acting as a gateway for capital to rotate into altcoins. The longer BTC trades sideways, the more oxygen it gives to the rest of the market. That means altseason, a period of time when altcoins gain against Bitcoin, also referred to as altcoin season, can continue.

But this sideways grind has a shelf life. “If Bitcoin breaks the lower high in this range, we’re looking at a serious challenge of the range high and potentially a move into new price discovery,” Rekt Capital added.

A new move will bring fresh new Bitcoin all-time highs, Source: Rekt on X

Ethereum: First Mover Advantage

While Bitcoin sleeps with one eye open, Ethereum is already on the move. ETH blasted through $3,750 over the weekend its highest level in over seven months and looks poised to lead the next wave of crypto momentum.

“Ethereum has already resynchronized with its macro range between $2,200 and $3,900,” Rekt Capital noted. That’s a fancy way of saying it’s back in a healthy, long-term uptrend  and could soon test the upper limits of that range. Ethereum has had a slow year, and it’s out-perofrmance last week suggests there’s still a lot of upside to come. And when ETH moves, historically, the rest of the market follows fast.

Eth has been up only for three months now, source: Ethereum Liquid Index

Altcoin Season on Deck?

While Ethereum’s breakout has made the headlines, many altcoins are still lagging. That’s not necessarily bad in fact, it could be fuel for the next rotation. While alts have done well in July, many are still up to 80% down from their all-time highs. 

In other words, if this breakout holds, we could be staring down the barrel of a broad-based altcoin rally the kind of move that lights up portfolios and X feeds in equal measure.

The Setup: Low Volatility, High Stakes

What makes this moment so intriguing is how quiet things feel. Bitcoin’s realized volatility is near historical lows. When markets go this quiet, they rarely stay that way, and the direction of the next move tends to catch people off guard.

The next few daily closes will be crucial. If BTC can crack above $123K and sustain momentum, that $125K target is more than just hopium, it’s technical destiny. If it fails and rolls over, things could get messy. Some Bitcoin price predictions suggest a target of $150,000 later in 2025. Michael Saylor meanwhile, says Bitcoin will eventually hit $1,000,000 and beyond. Yes, that’s a Bitcoin price target of one million dollars. 

Either way, the pressure is building. And when it finally releases, traders won’t be asking if you were positioned, they’ll be asking where. Did you buy crypto this week?