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Bitcoin surged to a brand new ATH above $123k yesterday and analysts say the bull run is way from over — even after a pointy 4% correction within the final 24 hours.
As of two:21 a.m. EST, the main cryptocurrency had fallen to $117,010.14, doubtless pushed by profit-taking after its record-setting run. Nonetheless, market watchers level to sturdy demand fundamentals and room for additional upside.
In a July 14 word to traders, Arca CIO Jeff Dorman cited the view of analyst Will Clemente on X that Bitcoin remains to be removed from tops seen in March final yr, after the Bitcoin ETF launch earlier within the yr, or Trump’s election win rally in December.
“This rally is nowhere close to that,” Clemente wrote.
Within the grand scheme of issues froth within the altcoin market can get so much worse from right here.
Each main tops to this point this cycle (March 2024 & December 2024) coincided with altcoin open curiosity flipping Bitcoin open curiosity on a proportion foundation.
Presently nowhere close to that. pic.twitter.com/L083LAcyUQ
— Will (@WClementeIII) July 13, 2025
Fairlead Methods’ Katie Stockton echoed the sentiment in a CNBC interview, projecting a possible climb to $135,000 earlier than Bitcoin enters a corrective part.
BTC Miner Provide Unable To Hold Up With Retail Demand
Whereas some analysts predict additional upside for the Bitcoin value, demand from retail merchants has just lately picked up as properly, in accordance with crypto trade Bitfinex.
In a July 14 analysis word, researchers on the trade mentioned that Shrimp (<1 BTC), Crab (1-10 BTC), and Fish (10-100 BTC) Bitcoin holder teams are accumulating BTC sooner than miners can produce provide every month.
“Presently, the mixed steadiness of those cohorts is increasing at a fee of roughly 19.3K BTC per 30 days,” the researchers wrote. “Demand from this phase alone is greater than sufficient to soak up all new provide.”
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