{"id":14193,"date":"2025-07-19T19:30:35","date_gmt":"2025-07-19T17:30:35","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=14193"},"modified":"2025-07-19T19:30:35","modified_gmt":"2025-07-19T17:30:35","slug":"bitcoins-struggle-to-surpass-123000-insights-from-an-analyst","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/07\/19\/bitcoins-struggle-to-surpass-123000-insights-from-an-analyst\/","title":{"rendered":"Bitcoin’s Struggle to Surpass $123,000: Insights from an Analyst"},"content":{"rendered":"

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The cryptocurrency market unfolded as a tale of two clearly defined segments, one in which the Bitcoin price surged to numerous all-time peaks. After hitting its all-time zenith of roughly $122,800, the leading cryptocurrency has fallen prey to a sobering wave of bearish momentum over the last few days.<\/p>\n

This recent drop in price was triggered by the activity of a Satoshi-era whale<\/a> on Thursday, July 17. However, the Bitcoin price never appeared likely to exceed the $123,000 mark, and a well-known on-chain analyst on X has detailed the reason behind this.<\/p>\n

Is The Leap To $143,000 Still Feasible?<\/strong><\/h2>\n

In a recent entry on the social media platform X, Alphractal CEO & founder Joao Wedson discussed<\/a> why the BTC price couldn’t surpass the $123,000 threshold during its ascent to a new all-time maximum last week. According to the cryptocurrency authority, this apparent waning of momentum may signify peril for the market leader in the short run.<\/p>\n

Related Reading<\/span><\/h2>\n<\/p>\n

The reasoning behind this forecast is that the $123,000 zone (or more accurately, $123,370) represents the second Alpha Price level for Bitcoin’s valuation. For context, the Alpha Price is a robust on-chain metric that employs various key indicators to predict where the BTC price is likely to experience support or resistance.<\/p>\n

Essentially, the Alpha Price is a threshold that Bitcoin’s price needs to break through and maintain above to progress into the next crucial stage of the bullish cycle<\/a>. \u201cIt starts by assessing the market\u2019s duration in days and uses that to derive the average market capitalization\u2014effectively forming the historical valuation baseline,\u201d Wedson further elaborated about the indicator.<\/p>\n

Source: @joao_wedson on X<\/figcaption><\/figure>\n

As illustrated in the chart above, the Alpha Price indicator consists of multiple threshold levels, which function like pressure zones. These thresholds indicate areas where investor sentiment is likely to change; lower levels act as support since investors commonly buy to defend their positions, while upper levels indicate heightened selling pressure due to profit-taking.<\/p>\n

Wedson pointed out that Bitcoin’s price failing to exceed the second Alpha Price level does not mean that the market peak is in. However, the $123,370 area is a distinct resistance zone, and the BTC price may need to undergo some retracement before ascension to new heights.<\/p>\n

Wedson also noted that the Alpha Price level will update on Saturday, July 19, as it\u2019s dynamically modified based on current on-chain transaction flows. Nonetheless, if the Bitcoin price breaks this barrier, a jump above $143,000 could still remain a possibility<\/a>.<\/p>\n

Bitcoin Price Overview<\/strong><\/h2>\n

As of this moment, the price of BTC is approximately $117,610, reflecting an over 2% dip in the last 24 hours.<\/p>\n

Related Reading<\/span><\/h2>\n<\/p>\n
\"Bitcoin
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView<\/a><\/figcaption><\/figure>\n

Featured image from iStock, chart from TradingView<\/p>\n<\/div>\n


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Source link <\/a>
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This recent drop in price<\/p>\n","protected":false},"author":3,"featured_media":14194,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[3050,3051],"class_list":["post-14193","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","tag-gptreturn-a-list-of-comma-separated-tags-from-this-title-why-bitcoin-price-failed-to-break-123","tag-000-in-the-past-week-analyst-explains-gpt"],"yoast_head":"\nBitcoin's Struggle to Surpass $123,000: Insights from an Analyst - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2025\/07\/19\/bitcoins-struggle-to-surpass-123000-insights-from-an-analyst\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin's Struggle to Surpass $123,000: Insights from an Analyst - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"“`html The cryptocurrency market unfolded as a tale of two clearly defined segments, one in which the Bitcoin price surged to numerous all-time peaks. 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