{"id":137589,"date":"2025-05-24T15:55:17","date_gmt":"2025-05-24T15:55:17","guid":{"rendered":"https:\/\/teknomers.com\/en\/bitcoin-price-prediction-btc-rises-to-108470-will-it-hit-120k-next\/"},"modified":"2025-05-24T15:55:17","modified_gmt":"2025-05-24T15:55:17","slug":"bitcoin-price-prediction-btc-rises-to-108470-will-it-hit-120k-next","status":"publish","type":"post","link":"https:\/\/teknomers.com\/en\/bitcoin-price-prediction-btc-rises-to-108470-will-it-hit-120k-next\/","title":{"rendered":"Bitcoin Price Prediction: BTC Rises to $108,470 \u2014 Will It Hit $120K Next?"},"content":{"rendered":"

Bitcoin (BTC) is experiencing a significant surge, reaching \u00a0$108,470\u00a0 as of Saturday\u2014a \u00a01% increase\u00a0\u2014while numerous indicators suggest a potential breakout towards \u00a0$120,000\u00a0.<\/p>\n

Texas Bitcoin Reserve Bill Gains Traction<\/span><\/h2>\n

The Texas Bitcoin Reserve Bill has recently gained substantial momentum with the endorsement of \u00a0Governor Greg Abbott\u00a0, who publicly supported SB 21 on May 22. The bill, which has successfully passed the Texas House, aims to establish a \u00a0state-level Bitcoin reserve\u00a0.<\/p>\n

Governor Abbott\u2019s backing aligns with his ambition to position \u00a0Texas as a leading cryptocurrency hub by 2024\u00a0, placing the state in the ranks of Arizona and New Hampshire, which have also embraced pro-crypto legislation.<\/p>\n

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Texas is positioning #Bitcoin<\/a> as a state-level strategic asset.
Governor Greg Abbott signals support for a bill to establish a Strategic Bitcoin Reserve. pic.twitter.com\/C7pvktZ66K<\/a><\/p>\n

— TFTC (@TFTC21) May 23, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

In contrast, Congress has yet to enact national Bitcoin reserve regulations despite a previous \u00a0executive order issued by former President Trump\u00a0. A state-level Bitcoin reserve could elevate investor confidence considerably, potentially catalyzing Bitcoin\u2019s rise past \u00a0$110K\u00a0.<\/p>\n

Crackdown on Crypto Scams Boosts Market Confidence<\/span><\/h2>\n

On May 23, the \u00a0U.S. Department of Justice\u00a0 reported the recovery of \u00a0$2.5 million\u00a0 in stolen cryptocurrencies linked to scams that preyed on FOMO (Fear of Missing Out) investors. The FBI\u2019s San Diego branch successfully coordinated the recovery, which was authorized by a federal judge.<\/p>\n

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"A large number of validators identified the addresses with the stolen funds and are ignoring transactions on those addresses until further notice."
HUH? pic.twitter.com\/pTbywpBT5k<\/a><\/p>\n

— JSHy | Josh Marchand (@JSHyCS) May 22, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

These scams have typically targeted inexperienced investors with promises of unrealistic returns, and the recovery emphasizes the government\u2019s ongoing commitment to \u00a0cleaning up the crypto market\u00a0. Regulatory oversight and actions by firms like Tether will enhance public trust in digital assets; consequently, a more transparent and enforced crypto market can boost Bitcoin’s price.<\/p>\n

Institutional Adoption Soars with Semler\u2019s $50M Bitcoin Buy<\/span><\/h2>\n

Adding to the positive sentiment, \u00a0Semler Scientific\u00a0 recently acquired \u00a0$50 million\u00a0 worth of Bitcoin between May 13 and May 22, increasing their total holdings to \u00a0455 BTC\u00a0, which currently totals \u00a0$474.4 million\u00a0.<\/p>\n

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\"\ud83d\udd25\" BULLISH: Semler Scientific acquired 174 #Bitcoin<\/a> worth $17.8M, yielding 22.2% $BTC<\/a> returns YTD, now holding a total of 3,808 $BTC<\/a>. pic.twitter.com\/AHOlUk7INK<\/a><\/p>\n

— Cointelegraph (@Cointelegraph) May 14, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Although Semler’s shares fell by \u00a01.36%\u00a0 following the announcement, the company\u2019s stock has surged by \u00a053%\u00a0 since their Bitcoin purchases began in May 2024, despite a \u00a044% decline\u00a0 in quarterly revenue. This move reflects a growing trend among companies to regard BTC as a treasury asset, enhancing \u00a0market stability\u00a0 and limiting supply, potentially driving prices upwards.<\/p>\n

Bitcoin (BTC\/USD) Technical Analysis<\/span><\/h2>\n

Current technical analysis suggests a \u00a0bullish outlook\u00a0 for Bitcoin. The 2-hour chart indicates a higher-low pattern supported by the \u00a050-period EMA\u00a0 at \u00a0$108,470\u00a0 and a trendline ranging from \u00a0$105,905 to $107,048\u00a0. The established resistance level is at \u00a0$109,613\u00a0 (23.6% Fibonacci), and a successful breakout could propel Bitcoin toward \u00a0$111,935\u00a0 or \u00a0$113,478\u00a0.<\/p>\n

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Investors should look for \u00a0bullish candlestick patterns\u00a0, such as the \u00a0three white soldiers\u00a0 or \u00a0RSI divergence\u00a0, which would validate the ongoing uptrend.<\/p>\n

BTC Bull Token Nears $7.14M Cap as 71% Staking Yield Fuels FOMO<\/span><\/h2>\n

As the BTC\/USD pair remains near the \u00a0$108K\u00a0 mark, the spotlight is shifting towards high-upside altcoins, specifically the \u00a0BTC Bull Token\u00a0 ($BTCBULL). With \u00a0$6.17 million\u00a0 raised out of its \u00a0$7.14 million\u00a0 cap, momentum is building as the next presale price jump approaches rapidly.<\/p>\n

What distinguishes BTCBULL is its \u00a0unique rewards model\u00a0, where token holders receive Bitcoin airdrops directly correlated to Bitcoin\u2019s price increases. The higher Bitcoin ascends, the more BTC is distributed, prioritizing presale buyers in terms of rewards over post-launch \u00a0DEX investors\u00a0.<\/p>\n

Key Stats:<\/strong><\/p>\n