Bitcoin Price Nearing New Highs: Will Rally Continue?

Bitcoin Price Nears Key Breakout Point as Bulls Push Toward $125K

Bitcoin has been making significant strides, with its price currently hovering above the $120,000 mark. This indicates a robust bullish pattern on the cryptocurrency, which indicates a possible breakout to new all-time highs. The wider cryptocurrency industry was also displaying some promising trends, and Ethereum (ETH), Solana (SOL), Binance Coin (BNB), and XRP have all been reporting significant increases in their prices over the past few weeks.

Bitcoin Price Reaches New Heights Amid Strong Bullish Surge

A cryptocurrency analyst has tweeted that the price is getting close to a level that it has not been in two years. The coin is moving toward its former all-time high, which is on August 14, 2025, when the cryptocurrency reached a high of $124,457.12. Nonetheless, even though this trajectory rises quite fast, the general outlook shows that Bitcoin continues to lag behind such conventional instruments as the S&P 500 and gold.

On a larger scale, it means that the price movement is lagging behind the US500 and gold, which have demonstrated even better upward trends in recent years. These comparisons indicate that, as much as Bitcoin is in a positive trend, it is still performing poorly against other major financial assets.

BTC Price Approaches Key Breakout Point for Rally

Analyst indicates that the price is approaching the critical blue line of the Power Law Corridor, and creates hope that it is about to experience a rally. It has been observed in history that the price has experienced enormous gains upon passing through this point in the past cycles.

The Coin is now on the verge of another important circle. It has already hit the blue line of Power Law Corridor, which is one of its indicators of price changes. The graph indicates that there are multiple times when Bitcoin has surpassed this mark and rallied at a tremendous pace.

The initial breakout was experienced in the first cycle (2011-2013), which was followed by a sharp rise in prices. Once again witnessed a similar breakout in the second cycle that helped in a rally. Our third cycle showed another break, only to be followed by a fake-out, then the actual rally gained momentum.

Whales Snap Up Over 30,000 Bitcoin in Just Two Days

In just 48 hours, whales purchased over 30,000 BTC. Santiment data shows a massive uptake and a huge buying spree of big investors. The given activity drove the price up, and significant growth was observed during the past days of September.

The figure indicates that there is a drastic increase in the number of coins that are purchased by organizations with 100-1,000 BTC. This purchasing force is a veritable sign of a turn in the market dynamics, with whales placing aggressive bets as the cryptocurrency market swings. The trend indicates high confidence in the investors, which could be a good indication of additional bullish price action.

Can Bitcoin Price Break Through $125,000?

As of the reporting time, the price of Bitcoin is experiencing notable upward momentum, currently sitting at around $120,339. 

Source: BTC/USD daily chart: Tradingview

The Relative Strength Index (RSI) is at 77.91, indicating that the asset is approaching overbought levels.

The Moving Average Convergence Divergence (MACD) indicates a positive crossover at 2,047.59, and this once again indicates the bullish trend. The asset has been increasing consistently in the last few hours, nearing the possible resistance point at $125,000.