Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin Price Prediction: Fidelity & Bitwise Fuel Optimism as BTC Nears $120K

Bitcoin Price Prediction: Fidelity & Bitwise Fuel Optimism as BTC Nears $120K

CryptotickerCryptoticker2025/10/02 12:33
By:Cryptoticker

Bitcoin Price Prediction: Momentum Builds Near $120K

Bitcoin (BTC) is currently trading just under $119,000, after briefly touching $119,400 earlier in the day. The cryptocurrency has maintained strong momentum this week, consolidating above the $116,000 support zone. The psychological resistance level at $120K is now the key barrier for traders and investors.

Bitcoin Price Prediction: Fidelity & Bitwise Fuel Optimism as BTC Nears $120K image 0 By TradingView - BTCUSD_2025-10-02 (All)

The latest Bitcoin price prediction suggests that if BTC manages to close decisively above $120K, a push toward $122K–$124K could follow. However, failure to hold $116K may drag the price back toward the $112K–$114K range.

Fidelity & Bitwise Buy $238.7 Million in Bitcoin

The big headline boosting market sentiment today is the news that Fidelity Investments and Bitwise collectively purchased $238.7 million worth of Bitcoin. Institutional buying at this scale strengthens confidence in BTC’s long-term potential , especially as these firms are key players in the ETF and asset management space.

This move highlights the ongoing institutional shift into Bitcoin, reinforcing BTC’s position as a digital store of value and making it increasingly attractive to traditional investors.

Technical Outlook: What to Watch Next

  1. Resistance: $120K remains the immediate resistance. A breakout could open the door to $124K.
  2. Support: $116K is the first key support, followed by the broader $112K–$114K range.
  3. Momentum: The RSI and moving averages remain supportive of further gains as long as BTC holds above $116K.

Traders should also keep an eye on spot ETF inflows, as renewed institutional demand has often correlated with upward momentum.

Bitcoin Price Prediction: Short-Term and Long-Term Outlook

  • Short-Term: BTC is expected to test $120K multiple times in the coming hours . If broken, bullish momentum could extend quickly.
  • Long-Term: Institutional adoption, combined with macroeconomic uncertainty and the upcoming halving cycle, continues to provide strong upside potential.

With Fidelity and Bitwise increasing their exposure, Bitcoin’s narrative as a long-term hedge against inflation and a key asset in diversified portfolios remains stronger than ever.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!