Bitcoin Weekly Forecast: BTC Eyes New All-Time Highs Following Passage of Key U.S. Crypto Legislation.
Bitcoin (BTC) delivered a strong showing this week, reaching a new all-time high of $123,218 early on before easing back and consolidating near the $118,000 mark by Friday. Bitcoin continues to face strong buying interest as it hovers near the key $120,000 resistance level. However, upward momentum remains limited due to a resilient U.S. Dollar and declining institutional inflows. Uncertainty ahead of the Federal Reserve’s upcoming policy decision has kept market participants cautious, while persistent outflows from spot Bitcoin ETFs and subdued on-chain activity signal weakened short-term demand. Regulatory developments also weigh on sentiment, with increased scrutiny of crypto platforms in both the U.S. and Europe adding to market hesitancy. Additionally, falling trading volumes and heightened volatility in altcoins reflect a broader risk-off environment in the crypto space. In the week ahead, Bitcoin’s price direction will largely depend on key U.S. economic indicators such as PMIs and Durable Goods Orders, which could shape investor expectations around Fed policy and influence overall market appetite.
