Bitcoin (BTC) has surged to a new all-time high, now trading around $118,700, up approximately 1.3% over the last 24 hours. The breakout above $112,000 has been fueled by institutional inflows, shrinking exchange reserves, and a massive wave of short liquidations.In this article, we will look at bitcoin next target and also look at bitcoin technical analysis and btc news.For on-demand analysis of any cryptocurrency, join our Telegram channel.Bitcoin Next TargetCurrent Price: $118,70624h Price Change: +1.27%24h Range: $117,140 – $119,130Market Cap: ≈ $2.3 trillion24h Trading Volume: ~$44 billionCirculating Supply: ~19.88 million BTCBullish breakout from Sideways Channel ($100K – $112K), above the $112K resistance, signals resumption of Uptrend. Price is making new ATHs. In this price discovery phase, we used Fibonacci extensions to identify possible price targets (resistance levels): $121K, $128K, $136K. Buy NowBitcoin Technical IndicatorsRSI: ~48 – NeutralMACD: BullishSupport Levels: $112,000, then $108,500–$109,200Resistance Levels: $120,000 psychological barrier, followed by $125,000–$130,000Trend: Strong uptrend within a larger bullish cycle; short-term pullbacks possibleLatest Bitcoin News & DevelopmentsRecord High & Short SqueezeBTC crossed $118K amid over $1 billion in liquidated short positions.Institutional & Treasury AdoptionSpot ETF inflows for 2025 have reached over $51 billion. Corporate and even government entities are beginning to add BTC to their reserves.Supply Constraints StrengthenExchange reserves are at multi-year lows, as more BTC is moved to cold storage by long-term holders and institutional wallets.Macro Environment FavorableWith global economic uncertainty and rising inflation concerns, Bitcoin is increasingly viewed as a safe-haven asset. Recent US crypto policy advancements have further legitimized the market.Bitcoin Forecast & OutlookBull CaseA breakout above $120,000 could push BTC to $125,000–$130,000 in the near term, especially if ETF inflows continue at the current pace.Bear CaseA correction toward $112,000 or even $110,000 is possible if traders take profits or if macroeconomic sentiment shifts.👉 Short-Term Outlook: Bullish📉 Risk Level: Moderate – high momentum, but possible volatility aheadFor on-demand analysis of any cryptocurrency, join our Telegram channel.German Authorities Move $24M in Bitcoin Amid Market DeclineEthena faces heat for alleged misuse of 180M ENA tokens to farm SatsUS Authority Indicts Man for Stealing $450K in Crypto in OpenSea Spoofing FraudHuobi Korea Announces Closure of Virtual Asset Exchange Services