Key Insights:
- Bitcoin surpasses Amazon in market cap, now at $2.36 trillion.
- Bullish chart patterns indicate Bitcoin could break $130K soon.
- Strong institutional confidence and technical indicators support continued growth.
Bitcoin (BTC) has markedly surpassed Amazon (AMZN) in terms of market capitalization. The crypto giant is now ranked the 5th in terms of market capitalization globally. Bitcoin’s market cap has reached $2.215 trillion. This is following the recent spurt of Bitcoin over Google.
An increase in the market cap of Bitcoin shows a change in the attitude of the investors. Institutions become more confident, and the adoption rate of retail as well as institutional investors continues to increase.
Bitcoin Bullish Momentum Supported by Key Technical Patterns
Some technical indicators and chart patterns are indicating that Bitcoin is bullish as it continues to have strong bullish momentum. Market analyst TATrader_Alan points out a coiling-up on the Bitcoin chart. It is a technical pattern and implies that Bitcoin is going to inflict a significant positive breakout.
This coiling effect, which was characterized by low volatility and consolidation, is usually followed by a major price jump. Bitcoin has experienced similar price movements in the past, where a consolidation cycle was followed by a bullish run.
The coiling pattern on Bitcoin’s chart indicates that the cryptocurrency is positioning itself for a sharp upward move. According to TATrader_Alan, once Bitcoin breaks above the $104,000 resistance, the price could surge toward higher levels, potentially targeting $116,000 or even higher
Bullish Flag Formation Points to Further Price Growth
The daily Bitcoin (BTC) chart shows a bullish flag technical pattern. It usually indicates an extension to the current trend when the price overcomes the upper resistance of the flagpole. This pattern is comprised of a powerful advancement and a consolidation or small decline.
The flag is a price action of Bitcoin during the period of May 2025 to June 2025. It shows the market is in the process of stagnation after experiencing a sudden upward movement in the set range.
The consolidation can also be viewed as a rest before the next leg up. Besides this, a break of the upper trendline will be a sign to resume the bullish trend.
Bitcoin is currently priced at $118,098, showing an increase of +1.78% from the previous trading day. The RSI (Relative Strength Index) is at 73.70, which brings to mind that Bitcoin is getting close to the overbought realm. However, it is still not in the extreme territory by any means.
This is an indication that the upward trend has not waned yet. Still, in the short term, a correction may take place where the RSI is pulled towards the 80 level.
The MACD (Moving Average Convergence Divergence) indicates a bullish crossover. It signals that the buying pressure was strong and indicates the continued rise in the asset. If Bitcoin successfully breaks through the upper resistance of the flag pattern, it could target $130,000 or beyond.
Fundamentals Support Bullish Outlook for Bitcoin
Several fundamental indicators also favor the bullish prospects of Bitcoin. It is outstanding that 100% of the holders of Bitcoins are currently in profit. It shows that the market is confident in Bitcoin.
A 12%of the total Bitcoin supply is invested in by large institutional investors or whales. It reflects that large market players also have confidence in the long-term development of Bitcoin.
The 76% of the BTC owners who have owned their assets for more than a year imply a long-term investment in the asset. This is the stage of holding confidence, which indicates that the market is doing well and confidence in Bitcoin as a store of value continues to increase.
Despite a negative netflow of -$584.49 million over the past week, the overall sentiment remains positive. It could indicate a positive consolidation phase, where investors are holding onto their positions, anticipating a future price increase.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
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