Bitcoin has touched a new all-time high of $123,000. Over the past seven days, the market has grown by 1.4%, and in the last 24 hours alone, it surged by 3.7%. Analysts now expect Bitcoin to consolidate within the $120,000 to $130,000 range in the short term.

How Has Bitcoin Performed So Far in 2025?

Bitcoin had a negative return of -11.7% in Q1 2025, despite January’s 9.54% gain. However, Q2 saw a strong rebound, with April up 14.2%, May up 11.1%, and June up 2.4%, resulting in a quarterly return of +29.9%.

At the start of this quarter, Bitcoin was priced at $105,653.37 and has since risen by around 14% to $122,146. Earlier today, it briefly peaked at $123,000. The rally is supported by a pro-crypto U.S. regime, expectations of lower interest rates, increased government spending, and a strong stock market.

Bitcoin Price Prediction for Next 15 Days

Analysts expect Bitcoin to move between $120,000 and $130,000. Market makers are reportedly buying closer to $120K and selling near $130K, which limits large price swings.

Deribit data shows significant open interest for call options at $115,000 and $120,000 for the July 25 expiry. For later expirations like August 1 and August 29, concentrations appear at $140,000 and $150,000, reinforcing the range-bound activity.

Bitcoin’s technical indicators continue to support a bullish trend. The daily RSI stands at 78.17. The 50-day moving average is $107,670.34, the 100-day is at $101,314.77, and the 200-day is $97,133.19. BTC remains well above all key levels, with no signs of divergence.

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Will BTC Price See Minor Pullback?

The Bitcoin Volatility Index (DVOL) is currently at 39.61. Low volatility during a price rally is unusual and suggests a potential increase. DVOL is bottoming, which may lead to short-term pullbacks or sideways action.

The U.S. Dollar Index (DXY) was at 96.64 at the start of the month and has risen by 1.22%. This gain, supported by a breakout and energy price risks, could temporarily cap Bitcoin’s upside.

Conclusion

Bitcoin remains in a strong uptrend despite the likelihood of short-term consolidation between $120K and $130K. Favorable macro conditions and bullish technical indicators suggest that the broader trend is intact.