Options data show traders targeting $126,000 in the near term for Bitcoin, with some positioning for $128,000 to $132,000 if momentum holds. This follows a year-to-date gain of roughly 33% for Bitcoin, which has also nearly doubled over the past 12 months. The recent price action saw Bitcoin break through multiple resistance levels, including $120,923 and $123,164, before hitting its new high.
While the market outlook remains tied to the pace and scale of central bank easing, technical levels are closely watched. For Bitcoin, $125,000 is seen as immediate resistance, with further upside potential toward $132,000 if current conditions persist.
For Ethereum, $4,800 remains the key level to clear before a potential move into uncharted price discovery. Both assets are trading in zones last visited during prior market peaks, with on-chain data showing robust network activity accompanying the price moves.
Over the last few hours, a minor retracement has placed Bitcoin 1.7% below its new highest valuation, around $121,900. Ethereum remains at the threshold of matching its own record, just $50 away, marking a notable moment in the ongoing 2025 rally.
