Ledn Chief Investment Officer John Glover, who accurately predicted Bitcoin’s recent rally, warned that failure to break above the $125,000 resistance could trigger a bear market.
BTC briefly touched record highs above $125,000 over the weekend, boosted by renewed demand for U.S.-listed spot ETFs amid the ongoing government shutdown and pro-stimulus comments from Japan’s new prime minister. Momentum has since cooled, with prices retreating to around $124,000.
“The $125K level is crucial,” Glover said, referencing his Elliott Wave analysis. “A decisive push above it could open the path to $145K by year-end. Repeated failures could signal the start of a bear market.”
Since July, BTC has crossed $120,000 three times, but prior rallies reversed quickly. The latest move appears more sustainable, holding above $120,000, with Singapore-based QCP Capital noting strong non-institutional demand.
If Bitcoin secures a clear break above $125K, upward momentum could continue, potentially reaching new all-time highs in the near term.
