Bitcoin (BTC) is down 0.3% to $118,263 this
week, following a sharp rally that saw the benchmark break above the critical
$108,000–$110,000 resistance and hit new all-time highs. On Monday, BTC surged 3.9% to a record
$123,252, a level unlikely to remain the peak for long. With
the primary target range of $117,000–$127,000 now in play, attention is
shifting toward the extreme target of $155,000–$165,000, potentially achievable
by September or shortly after.
However, the market may be entering a short
consolidation phase. Progress on crypto regulation in the U.S.