Editor's PiCK
[Analysis] "Bitcoin breaks through $120,000 'technical barrier'... Next target at $135,000"
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- An analyst from FxPro reported that Bitcoin has broken through the $120,000 technical barrier, increasing the potential for further upside.
- The current closest target price for Bitcoin is said to be between $135,000 and $138,000.
- Ethereum is also nearing record levels for on-chain transaction volume and address growth, making a new all-time high possible soon.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Analysis suggests that Bitcoin (BTC) has broken through the ‘technical barrier’ at $120,000, increasing the likelihood of further gains.
Alex Kuptsikevich, senior analyst at FxPro, told CoinDesk on the 11th (local time), "Bitcoin has already surpassed the technical barrier at $120,000," adding, "The current nearest target price is between $135,000 and $138,000." He also commented, "(This rally) is one of the few cases where a major altcoin rally has fueled Bitcoin’s rise."
He expressed a positive outlook for Ethereum (ETH) as well. Kuptsikevich said, "Ethereum’s price has risen by over 21% in the past 7 days and 45% over the last 30 days," adding, "On-chain transaction volume and the address growth rate are also approaching all-time highs." He further noted, "It wouldn’t be surprising if a new all-time high is set in the coming days." Ethereum’s previous all-time high was $4,891, recorded in November 2021.
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