Will Bitcoin Hit $80K and Surpass $120K?

<a href="https://xpertsstudio.com/bitcoin-hits-75000-first-time-in-three-months/” title=”Bitcoin: Hits $75,000 First Time in Three Months”>Bitcoin Price Prediction: Will Bitcoin Hit $80K and Surpass $120K?

Bitcoin’s sharp rebound has put the $80,000 target back in focus. Analyst Pierre Rochard expects $BTC to end 2026 around this level. He believes it will make a much bigger move next year.

Rochard believes Bitcoin is “not quite ready for a parabolic run” yet. However, he expects it to finish the year near $80,000. He also expects Bitcoin to surpass $120,000 next year. By 2030, Rochard says it could potentially reach $300,000.

BitcoinPierre’s $80K-$300K Forecast

According to him, it depends heavily on the Federal Reserve and the broader macro environment. He argues that if the economy softens enough for the Fed to cut interest rates without reigniting inflation, Bitcoin could benefit from improved liquidity.

He also sees AI potentially helping the macro picture by increasing productivity and bringing inflation lower. In that scenario, rate cuts could create a stronger environment for risk assets such as Bitcoin.

Bitcoin’s latest price action is already showing signs of renewed momentum. $BTC climbed from roughly $63,000 to $75,401 in less than 48 hours. This came after buyers defended the $63,000 area. Importantly, Bitcoin formed a higher high and higher low.

$80K Comes Into Focus

The rally was partly accelerated by a major short squeeze. Around $1.4 billion-$1.7 billion in crypto short positions were reportedly liquidated as Bitcoin and Ethereum surged, clearing bearish leverage.

Glassnode noted the exceptional size of the move. They said Bitcoin’s jump from around $75,401 was a 5.8-sigma move against its 30-day volatility. This is the strongest upside move of this magnitude since October 2023.

However, liquidations alone do not confirm sustainable spot demand.

On-chain analyst Onchain Insights said Bitcoin has broken above its yearly downtrend resistance and recovered into the $70,000 range. A sustained close above this structural resistance could signal weakening selling pressure and further upside momentum.

Another analyst also said limited short-position resistance before $80,000, making it an important near-term target.

Polymarket odds of Bitcoin reaching $80,000 in August rose to 13%, up 9 points in six hours. $BTC would need to climb about 14% from $71,000 to hit $80K.

Can $BTC Reclaim $120K?

Rochard expects $BTC to easily surpass $120,000 next year if the macro environment becomes supportive. His long-term target of $300,000 by 2030 reflects a much broader bullish thesis around liquidity, supply and adoption.

His view also finds support from SkyBridge Capital CEO Anthony Scaramucci, who expects Bitcoin to surpass $100,000. He cites the halving cycle and its reduction in new supply.

For now, $80,000 is the key near-term milestone. Whether Bitcoin can turn this leverage-driven surge into sustained spot demand will determine how realistic BitcoinPierre’s bigger $120,000 and $300,000 targets become.

Source: cryptonews.net