Bitwise Says Bitcoin Price Could Hit $120K in July
The post Bitwise Says Bitcoin Price Could Hit $120K in July appeared first on Coinpedia Fintech News
The Bitcoin price forecast for July is filled with global optimism. Recently, Bitwise released a report stating that history shows Bitcoin has rebounded strongly after geopolitical shocks.
On June 30, Bitwise CIO Matt Hougan and head of research Ryan Rasmussen confirmed their $200,000 price target for 2025. They are also optimistic about Bitcoin ETF flows in the second half of the year.
For strategic reasons, many countries are quietly exploring or accumulating Bitcoin. We anticipate that more nations will reveal their plans by year-end, leading to massive adoption in H2. With this growing optimism, experts like Mister Crypto expect the current consolidation in a flag pattern to result in a breakout soon.
Why Is Bitwise Bullish On Bitcoin Price In July?
In June, Bitcoin price experienced consolidation due to rising geopolitical risks in the Middle East. After reaching new all-time highs, Bitcoin traded sideways throughout the month.
Despite these consolidations and geopolitical pullbacks, data indicates strong institutional demand through Bitcoin ETFs and corporate treasuries, which are reducing supply.
Therefore, Bitwise believes that as trade-policy clarity and potential Fed easing approach, these factors create a positive environment for Bitcoin in July.
[post_titles_links postid=”477768″]Bitcoin Price Chart Analysis: Breakout Likely From Flag Pattern
Bitcoin price is nearing its all-time high of $112K, currently trading at $107,685 after a recent 2% jump. The MACD tool indicates increased bullishness, showing a golden cross. Also, the CMF is at 0.12, reflecting rising inflows, while the RSI supports at 55.24.
From late June to early July, both the AO and MACD histogram suggest growing bullish momentum. Short-term EMA bands also indicate a positive outlook, with the recent surge stemming from the 20-day EMA band.
If it breaks above the wedge’s upper border on the Bitcoin chart, it could target $112K and potentially reach $120K by the end of July if short-term Bitcoin news triggers bullish accumulation.
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As of July 2, 2025, Bitcoin is trading just below $107,000, specifically around $106,807.91. The global crypto market cap experienced a slight dip, and while some altcoins saw mixed moves, Bitcoin’s price has consolidated, with the overall Market Fear & Greed Index at 46 (Neutral).
Bitwise maintains a $200,000 price target for Bitcoin by the end of 2025. Other analysts also predict significant gains, with some forecasting Bitcoin could reach $6.50 or even $8 in July 2025 (though the provided context refers to XRP for these specific targets, the general sentiment for Bitcoin is bullish). Long-term predictions from other experts suggest Bitcoin could reach $500,000 or even $1 million by 2030 or 2040, driven by increasing institutional adoption and its role as digital gold.
Current factors affecting Bitcoin’s July 2025 rally include geopolitical calm, anticipated Fed rate cuts, strong institutional ETF inflows, increasing national adoption, and bullish technical indicators.