Bitcoin Breaks $78,000... Will the Flagship Coin, Accumulated by Whales, Reach $150,000?

▲ Bitcoin Whale ©CoinReaders

Driven by record accumulation by whales and massive institutional capital inflow, the flagship cryptocurrency Bitcoin has surged past $78,000 in one go, showing an unstoppable upward trend. However, technical analysis suggests a potential for a major correction before the $80,000 resistance level, while conflicting forecasts of a super rally towards $150,000 thereafter are also emerging, drawing significant market attention.

According to FXLeaders, an investment media outlet, on April 22 (local time), Bitcoin (BTC) is currently trading around $78,000, accumulating upward momentum through expanding buying pressure. A significant $238 million in institutional funds, demonstrating strong confidence from institutional investors, has flowed in, and massive whales have accumulated over 45,000 units in the past week, the largest volume since July 2025. During this process, market volatility reached an extreme, with 114,045 traders experiencing liquidations totaling $400 million in the last 24 hours.

Driven by the strength of the flagship coin, Ethereum (ETH) also rose 2% in a single day, nearing the $2,400 mark. In the altcoin market, while Hyperliquid fell by 2%, major assets such as XRP (Ripple), BNB, Solana (SOL), Tron (TRX), Dogecoin (DOGE), and Cardano (ADA) all recorded a synchronous rise of 2.5%, riding the bullish sentiment.

This rally in the cryptocurrency market is particularly noteworthy as it occurs amidst a contraction in traditional financial markets. Despite increased oil price volatility and fierce sell-offs in the stock market due to persistent inflation risks and concerns over delayed interest rate cuts, demand for assets less correlated with the existing financial system has strengthened, driving up prices in the crypto market.

However, behind the explosive short-term rally, the shadow of a significant correction looms. According to Elliott Wave theory, markets invariably enter a corrective phase after impulsive short-term movements. Experts warn that if a clear rejection occurs around the $80,000 resistance level, the recent rally from the $60,000 low to $78,000 will solidify as an impulsive rally, leading to a major corrective phase.

Technical indicator Fibonacci retracement provides several support levels in case of a downturn, pinpointing the potential bottom of this bear market around $52,000. However, renowned crypto analyst YoungXchip offers a rosy outlook, stating that after the market firmly establishes this bottom, it will stage a massive bull run in 2027, reaching up to $150,000, thereby fueling investor expectations.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*