This is why the price of Bitcoin could reach $162,000 in this cycle.

Bitcoin (BTC) has reestablished the $108,000 mark this week, raising hopes for a new cycle peak in the range of $123,000 to $162,000, according to analysts.

A series of technical indicators are signaling that a strong bullish trend is forming. As historical patterns gradually repeat and the price charts begin to converge, a sense of optimism is spreading among investors, indicating that a significant breakout is very close.

Bitcoin price enters a phase led by institutions

Crypto analyst Patel has developed a full cycle model, describing the journey of Bitcoin through key phases: from quiet accumulation, price manipulation, to the current strong breakout.

According to Patel, during the period from 2022 to early 2024, the price of BTC mainly fluctuated within a narrow range – a prolonged accumulation phase that laid a solid foundation for the subsequent upward trend.

Source: Crypto Patel/The turning point will occur in mid-2024, when institutional money starts to return to the market. Patel points out that the surge to $107,000 in January 2025 bears many similarities to the first rise in the 2020–2021 cycle. At that time, the price of Bitcoin soared by 73% after a wave of purchases from large institutions.

Based on the cyclical repeating model, he predicts that this peak increase could reach $162,000.

The technical chart also notes two "institution entry zones," named Institution Entry 1 and Institution Entry 2. Notably, Entry Zone 2 is becoming clearly defined after the price formed a bottom around the $96,000 mark in June 2025, accompanied by a surge in trading volume and a breakout of the rounding bottom pattern—a classic sign of the beginning of a long-term uptrend.

Analysts evaluate this as a clear signal indicating that the market has entered the "organization phase," as the price of Bitcoin consistently remains above the key support zone of $105,000.

Break the descending wedge pattern confirming the bullish structure

According to analysis from CryptoWZRD experts, Bitcoin has just confirmed an important reversal signal by breaking through the (falling wedge) pattern – a technical pattern that often signals a return to upward momentum.

This breakout has caused the price of BTC to surge from the $91,000 range up to $108,000. However, the most recent daily candle shows the market's hesitation as it slightly leans towards a correction trend, reflecting the possibility that the price will either accumulate further or make a slight adjustment in the short term before determining the next direction.

Source: CryptoWZRD/XThe current important resistance level is located at $110,400. If Bitcoin can close the daily candle above this level, the prospect of extending the uptrend to the target area of $120,000 will become clearer.

On the contrary, the $105,500 region is considered a strategic support - a place that was once the breakout point from the descending wedge pattern. Losing this level could trigger renewed selling pressure, causing the price to adjust deeply around the $100,000 level.

CryptoWZRD also warns about potential geopolitical risks that may arise over the weekend – a hidden factor that could cause sudden volatility. Additionally, if Bitcoin's dominance weakens, capital is likely to be reallocated to altcoins.

However, as long as BTC remains strong above the important support zone, the current upward trend is still maintained, continuing to support the buying strategy with the target approaching the $120,000 mark.

Megaphone pattern targets upward price at $123,000

The analysis team from Bitcoinsensus recently pointed out the emergence of a large-scale bullish "megaphone" pattern on the Bitcoin chart, which has been developing over the past few months. This pattern is characterized by an increasingly widening price range, a signal that the market is accumulating strong momentum.

According to technical analysis theory, the megaphone pattern often ends with a decisive breakout, in the opposite direction of the previous trend.

Source: Bitcoinsensus/XCurrently, the price of BTC is approaching the upper resistance zone of this model – a key position where the likelihood of a directional breakout occurring is very high.

The analysis indicates that if BTC clearly breaks above the fifth touch point of the pattern, the next price target will be around $123,000. Notably, the 50-day moving average (SMA) has continuously acted as dynamic support since March 2025, adding momentum to the current upward trend.

The resonance between the megaphone structure and the upward trend of the SMA 50 line is reinforcing the view of a continuing bullish phase. If BTC can close above the $110,500 threshold this week, analysts believe that the target price area of $123,000 will soon be tested.

Leverage ratios and whale actions raise speculation

The market sentiment is clearly heating up, as data from CW shows that the leverage ratio of Bitcoin across all exchanges has just set a new yearly high, reaching 0.27.

This figure reflects the increasing risk appetite within the trading community. In the past, breakthrough growth periods were often signaled by high leverage ratios – especially when technical signals aligned on the potential for a strong breakout.

Source: CW/XNotably, on-chain data from CryptoRank.io recorded that a veteran "whale" suddenly moved 80,000 BTC on July 4, after being inactive for 14 years. This Bitcoin was purchased in 2011, when the price ranged from $0.78 to $3.37. Although the entire amount of coin has been transferred to a new wallet, there are no signs indicating any selling action.

Source: CryptoRank/XAs of the current price, this portfolio is valued at approximately 8.6 billion USD. Meanwhile, the price of Bitcoin has fluctuated in the range of $97,500 to $108,120 over the past month – corresponding to a margin of about 12%.

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