Crypto Traders Expect Bitcoin to Reach $130K as Market Trends Start to Change
Bitcoin Hits $120K — Altcoins Surge as Market Enters New Phase
Bitcoin’s price jumped to $120,000 this week, triggering a strong rally in other major cryptocurrencies. Ethereum (ETH), Solana (SOL), XRP, and Dogecoin (DOGE) all posted solid gains — some between 8% to 25%.
But this rally isn’t just about hype. Traders say the market is changing, with big institutional investors starting to play a bigger role.
“This isn’t just a random boom,” said Seamus Rocca, CEO of Xapo Bank. “It’s a steady climb backed by major players who are thinking long term.”
Rocca also mentioned that global uncertainty and strict monetary policies are helping Bitcoin grow as a hedge — similar to gold. He said, “Bitcoin isn’t just gaining value; it’s becoming a serious asset class competing with traditional finance.”
Ethereum has also surged more than 17% this week, briefly going over $3,000. According to analysts at Bitcoin yield platform TeraHash, companies are buying more BTC for their treasuries than what’s flowing into spot ETFs — a sign of long-term positioning.
At the same time, institutions like Anchorage and Fidelity are expanding services for big investors, while OTC (over-the-counter) trading desks are becoming more efficient.
Solana, now around $163, rose 11% this week thanks to renewed interest from retail investors and memecoin activity. XRP shot up 25% due to both technical signals and growing hopes for a resolution to its legal case.
TeraHash noted, “The price moves are exciting, but the real shift this summer is structural.”
Many altcoins are also in the green. Dogecoin jumped 23% over the week, helped by more retail buyers using apps like Robinhood and Binance. XRP trading volume surged in South Korea, while Cardano, TRX, and AVAX also showed strong gains.
Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, added, “Strong Bitcoin rallies are often followed by big moves in altcoins — and memecoins might be making a comeback too.”
Still, not everyone is convinced the market will keep going up.
Ruslan Lienkha, Chief of Markets at YouHodler, warned, “Bitcoin may have hit $120K, but it’s still below a major resistance level.” If it breaks through and stays above that level, he said, “It could trigger a sharper rally, possibly pushing Bitcoin toward $130,000.”
