Bitcoin (BTC) has generally traded below $120,000 since its ATH surpassed $123,000 on July 14. However, yesterday, BTC briefly surpassed $122,000 and came very close to its previous ATH. While people were wondering which direction Bitcoin, which was then pulled back below $120,000, would move, FxPro senior analyst Alex Kuptsikevich shared his current analysis. The Next Target for Bitcoin is the $135,000-$138,000 Range! Speaking to Coindesk, Alex Kuptsikevich reported that Bitcoin has broken through the $120,000 technical barrier, increasing its potential for further upside. Stating that there is potential for further rise in Bitcoin, the analyst said that the nearest price target for BTC is currently between $135,000 and $138,000. “Bitcoin has already broken through the $120,000 technical barrier. The current potential nearest target price is between $135,000 and $138,000. “Furthermore, this is one of the rare cases where a major altcoin rally fueled Bitcoin's rally.” Bitfinex analysts, on the other hand, stated that although Bitcoin has started to rise, the price is dependent on important data such as the US Consumer Price Index (CPI) to be released this week. “Whether Bitcoin's upward momentum will continue depends on macroeconomic data from the US,” Bitfinex analysts said. At this point, a CPI data above expectations could trigger renewed selling pressure. It Wouldn't Be Surprising If Ethereum Broke a Record! Alex Kuptsikevich also commented on Ethereum (ETH). Offering a positive outlook for Ethereum, as he does for Bitcoin, Kuptsikevich said it's possible for Ethereum to surpass the $4,891 price it reached in November 2021. “Ethereum's price is up more than 21% in the last 7 days and 45% in the last 30 days. On-chain transaction volume and address growth rate are also approaching all-time highs. “Furthermore, it wouldn't be surprising if a new all-time high is reached in the coming days.” *This is not investment advice. Continue Reading: Expert Analysts Share Their Bitcoin (BTC) and Ethereum (ETH) Price Expectations! Rise or Fall?
