Bitcoin breaks through $78,000... Will the flagship, scooped up by whales, reach $150,000?

▲ Bitcoin Whale ©CoinReaders

Driven by record accumulation by whales and massive institutional capital inflows, the flagship cryptocurrency Bitcoin has swiftly broken through $78,000, showing an unstoppable upward trend. However, with technical analyses suggesting a potential major correction before the $80,000 resistance level, alongside conflicting forecasts of a super rally towards $150,000 thereafter, market attention is sharply focused.

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

Buoyed by the strength of the flagship cryptocurrency, Ethereum (ETH) also rose 2% in a single day, nearing the $2,400 mark. In the altcoin market, while Hyperliquid fell by 2%, major cryptocurrencies such as XRP (Ripple), BNB, Solana (SOL), Tron (TRX), Dogecoin (DOGE), and Cardano (ADA) are enjoying a favorable trend, recording a collective rise of 2.5%.

This rally in the cryptocurrency market is particularly noteworthy as it occurs amid a contraction in traditional financial markets. Despite increased oil price volatility and a fierce sell-off in the stock market due to persistent inflation risks and concerns over delayed interest rate cuts, demand for assets with low correlation to the existing financial system has actually strengthened, which is analyzed to have driven the price increase in the crypto market.

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

The technical indicator, Fibonacci retracement, suggests several support zones during a downturn, pointing to a potential bottom for this bearish market around $52,000. However, renowned crypto analyst Young XCHiP has presented a rosy outlook, predicting that after the market firmly establishes this bottom, it will stage a massive bull run by 2027, reaching a high of $150,000, thereby raising 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.*