The crypto market is heating up as Bitcoin surges toward the critical $120,000 resistance level, signaling a potential breakout phase in the ongoing bull run. With monthly chart patterns confirming a breakout from long-term consolidation, many analysts believe the main uptrend has only just begun. For investors, this could mean that prices below $120,000 still represent a strategic accumulation zone.
This week’s price action will likely be shaped by three major macroeconomic and geopolitical events: the Canadian federal election, the U.S. core PCE inflation data, and the highly anticipated nonfarm payrolls report. Each of these has the potential to trigger significant volatility across financial markets — and cryptocurrencies are no exception.
Meanwhile, altcoins are showing signs of consolidation after recent pullbacks, creating what some traders view as high-reward entry opportunities. Let’s break down the current landscape and explore how to position yourself ahead of the next market move.
👉 Discover how market cycles shape crypto trends and when to enter with confidence.
Bitcoin’s Breakout: A New Phase of the Bull Market?
Bitcoin’s recent momentum suggests we’re entering a powerful phase of price discovery. The monthly chart shows a clear breakout above long-standing resistance, reinforcing the idea that this isn’t just a speculative rally — it's a structural shift driven by institutional adoption, macro tailwinds, and increasing scarcity.
Key observations:
- Monthly resistance broken: BTC has cleared a multi-year congestion zone, indicating strong underlying demand.
- **$120K is not the ceiling**: While psychological resistance looms at $120,000, many on-chain models suggest fair value could extend beyond $150,000 in this cycle.
- Fear of missing out (FOMO) is growing, but true tops usually form when euphoria peaks — we’re not there yet.
- Dollar-cost averaging below $120K remains a sound strategy for long-term holders.
Attempting to time a top or bottom often leads to missed opportunities. Instead, focusing on trend confirmation and risk management allows investors to stay aligned with market momentum without emotional decision-making.
3 Major Events That Could Shake the Market This Week
1. Canadian Federal Election (Monday)
The outcome of Canada’s federal election may seem distant to global crypto traders, but its implications are broader than expected. A shift in government could impact North American trade dynamics, energy policies, and regulatory approaches to digital assets.
Given Canada’s role in the tech and mining sectors — including Bitcoin mining operations and blockchain innovation hubs — changes in policy direction could influence investor sentiment across the region. Additionally, any uncertainty in U.S.-Canada relations might spill over into risk-on assets like cryptocurrencies.
2. U.S. Core PCE Price Index (Wednesday)
This is the Federal Reserve’s preferred inflation gauge — and it moves markets. Released by the Bureau of Economic Analysis, the core Personal Consumption Expenditures index excludes volatile food and energy prices, offering a clearer picture of underlying inflation trends.
If the data comes in hotter than expected:
- Rate cut expectations could be delayed.
- The dollar may strengthen, pressuring risk assets.
- However, strong economic data could also support pro-growth narratives, potentially lifting crypto alongside equities.
Conversely, a softer print could rekindle hopes for earlier rate cuts, boosting liquidity-driven assets like Bitcoin and altcoins.
3. U.S. Nonfarm Payrolls Report (Friday)
Wall Street watches this report closely — and so should crypto investors. The NFP measures job growth outside the farming sector and serves as a key indicator of economic health.
A strong jobs number may suggest resilience in the economy, supporting risk appetite. But if employment growth slows unexpectedly:
- Recession fears could resurface.
- Risk-off sentiment might dominate, leading to short-term corrections in crypto markets.
Either way, expect increased volatility around the release — an opportunity for active traders and a reminder for long-term holders to stay disciplined.
👉 Learn how macroeconomic data influences cryptocurrency valuations in real time.
Altcoin Opportunities: Where Are the Best Entry Zones?
While Bitcoin leads the charge, altcoins often deliver outsized returns during mid-to-late stages of bull markets. After recent pullbacks, several projects are forming attractive setups on the 4-hour timeframe.
Here are key altcoins showing strong technical support and momentum:
$ENA (Ethena)
Trading between $0.32–$0.33, ENA has maintained a steady rhythm despite broader market swings. Its synthetic dollar-backed yield model continues attracting attention, making this dip a potential high-conviction buy zone.
$STX (Stacks)
After a solid run last week, STX finds support in the $0.75–$0.80 range — an area with low sell-side liquidity ("vacuum zone"). With growing interest in Bitcoin Layer 2 solutions, Stacks remains well-positioned for future growth.
$SUI
Despite token unlocks that typically trigger selling pressure, SUI held firm around $3.35–$3.40. This resilience signals strong buyer conviction. As one of the leading Move-based blockchains, SUI’s ecosystem development adds fundamental weight to its technical strength.
$TAO (Bittensor)
Trading near $340, TAO is approaching a key trendline support zone. As AI and decentralized machine learning gain traction, Bittensor’s unique consensus mechanism keeps it on investors’ radar.
$ONDO
With institutional demand for tokenized real-world assets rising, ONDO’s fundamentals remain strong. The $0.88–$0.90 range represents a low-liquidity zone, increasing the odds of a sharp rebound if support holds.
$AXS (Axie Infinity)
The gaming sector has underperformed recently, but AXS continues to find floor at $2.40. With new gameplay updates and potential partnership announcements on the horizon, this could be a speculative play worth watching.
$TRUMP
Yes, it’s meme-driven — but momentum matters in bull markets. With strong retail backing and political narrative fueling trading volume, $TRUMP has established support around $12, with upside potential toward $13.50. High risk, high reward.
Pro Tip: Always set stop-losses and avoid overexposure to speculative assets. Even in bull markets, proper risk management separates winners from casualties.
Frequently Asked Questions (FAQ)
Q: Is Bitcoin really going to hit $120,000?
A: Based on historical cycles, on-chain metrics (like MVRV and SOPR), and macro conditions (loose monetary policy, ETF inflows), many models project Bitcoin reaching $100K–$150K in this cycle. While timing isn’t guaranteed, the directional bias remains bullish.
Q: Should I sell my Bitcoin if it hits $120K?
A: Not necessarily. If momentum remains strong and volume supports higher prices, consider scaling out gradually rather than exiting all at once. Use trailing stops or time-based profit-taking strategies to preserve gains while staying in the trend.
Q: Are altcoins safe to buy now?
A: Altcoins carry higher volatility and risk than Bitcoin. However, buying quality projects during consolidation phases — especially after negative news or unlock events — can yield significant returns later in the cycle.
Q: How do economic reports affect crypto prices?
A: Cryptocurrencies increasingly behave like risk assets. Strong economic data can delay rate cuts (bearish short-term), while weak data may boost hopes for easier monetary policy (bullish). Sentiment and expectations often matter more than raw numbers.
Q: What’s the best strategy during volatile weeks like this?
A: Focus on capital preservation first. Use limit orders instead of market buys, avoid leverage during news events, and maintain dry powder for unexpected dips.
Q: Can meme coins like $TRUMP sustain long-term value?
A: Meme coins are driven by community sentiment and speculation rather than fundamentals. While they can generate quick profits during hype cycles, they’re not suitable for long-term portfolios unless you fully understand and accept the risks.
👉 See how top traders manage risk during high-volatility periods using smart order execution.
Final Thoughts: Ride the Trend, Not the Hype
Bitcoin’s march toward $120,000 reflects more than just price movement — it’s a signal of growing confidence in decentralized digital assets as a macro hedge and store of value. Rather than fighting the trend or chasing every altcoin pump, focus on disciplined entry points, sound position sizing, and patience.
The three catalysts this week — Canadian elections, PCE data, and nonfarm payrolls — will test market resilience. But volatility creates opportunity for those prepared.
For altcoins, now is the time to research, monitor key levels, and prepare your watchlist. Whether you're backing AI-driven protocols like $TAO or exploring real-world asset tokenization via $ONDO, make sure every trade aligns with your risk profile.
Remember: Don’t go all-in. Don’t FOMO. Protect profits early and often. The real winners in this bull market won’t be those who caught every bottom — but those who stayed in the game until the end.
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