Analysts say that after Bitcoin reached a new all-time high on Sunday, it may continue to rise in the coming weeks.

Crypto analyst "CrediBULL Crypto" stated, after Bitcoin (BTC) surged to a new high of $125,700, "Now that we have impulsively set a new high, the next phase towards $150,000 has begun."

The analyst pointed out that Bitcoin will "break through" the current level and may refresh its high again this week, but does not rule out the possibility of a pullback to the range of $108,000 to $118,000. He added, "If it pulls back to $108k to $118k, that’s an opportunity; if not, just enjoy the ride towards $150k+."

Long-term crypto trader "Crypto Chase" shares a similar view, predicting on Sunday that "a new round of increases seems very likely," and stated that if Bitcoin's momentum remains strong, "the pullback will only be a minor correction at most."

James Wynn, a major trader at Hyperliquid, said, "I feel Bitcoin may set a new high again within hours. I believe the price discovery process has begun, and it has taken a long time due to previous price suppression, while gold and stocks attracted all the attention."

Meanwhile, according to TradingView data, Bitcoin just set a new all-time high weekly closing price of $123,543.

Bitcoin rose about 11% in the past week, partly due to the U.S. government shutdown that began on October 1. Jeff Mei, COO of BTSE exchange, told Cointelegraph, "We believe that due to the U.S. government shutdown and other currency pressures, investors may view Bitcoin as a safe-haven asset, thus gaining another tool to diversify away from the dollar and treasury risks."

He added that the dollar is depreciating, and if interest rates decline further, the depreciation trend may intensify, "It makes sense for investors to allocate more funds to other currencies and Bitcoin."

As Bitcoin reaches new highs, the dollar is experiencing its worst performance in decades. The dollar index, which measures the dollar against a basket of currencies, has fallen over 12% since the beginning of this year.

Venture capital investor Will Clemente pointed out that the significant rise in Bitcoin is not driven by digital asset treasuries or derivatives trading, but by spot exchange-traded funds (ETFs) that "view Bitcoin as a rotating asset from commodities and small-cap stocks."

Nate Geraci, president of Nova Dius, noted that the U.S. spot Bitcoin ETF saw an "astonishing number" of inflows last week, reaching $3.2 billion, the second-best week since its launch.

These factors, combined with Bitcoin's bullish seasonality—Bitcoin has risen in 8 out of the last 12 fourth quarters and in 10 out of the last 12 Octobers—could drive another surge this month.

Crypto YouTuber Michaël van de Poppe stated on Sunday, "A rise from $110,000 to $125,000 in a week is a very strong increase."

Charles Edwards, founder of Capriole Investments, predicted last week that after Bitcoin breaks $120,000, it will quickly surge towards $150,000.

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Original article: “Analyst: Bitcoin Will ‘Break Through’ to the Next Stage, Targeting $150,000”

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