Bitcoin on track for $140K? 6 bullish signals you shouldn’t ignore
Bitcoin (BTC) has recently shown renewed strength, rallying to over $106,000 before slightly retracing to around $102,000. Despite being 6% below its all-time high of $109,000 (set in January 2025), analysts and traders are increasingly optimistic, eyeing a potential price top of $140,000 in the coming weeks or months. This bullish outlook is supported by six key indicators from technical, on-chain, and macroeconomic data.
1. Strong ETF Inflows
One of the primary bullish drivers is the sustained inflow of funds into U.S.-based spot Bitcoin ETFs. Over the past two weeks alone, these ETFs have seen net inflows of $2.9 billion. Historically, similar periods of ETF activity have closely aligned with sharp price increases. For instance, between February and March 2024, inflows of $8.5 billion corresponded with a rally in Bitcoin’s price. These flows are viewed as a reflection of institutional confidence, and continued interest may push BTC toward new highs.
2. Falling Market Volatility Signals “Risk-On” Sentiment
The U.S. stock market’s CBOE Volatility Index (VIX) has fallen from 55 to 18, indicating a lower level of expected short-term market volatility. Economist Timothy Peterson argues that a VIX below 18 fosters a “risk-on” environment, encouraging capital to flow into volatile assets like Bitcoin. His model, with a 95% accuracy rate, predicts BTC could reach $135,000 within 100 days if the VIX remains low.
3. Whales Are Accumulating
Data from Glassnode shows a Bitcoin Accumulation Trend Score (ATS) of 1 — the highest possible — which signals widespread buying by large investors or “whales.” This accumulation is consistent across nearly all investor cohorts and mirrors the pattern seen in October 2024, just before Bitcoin surged from $67,000 to $108,000. Additional data from Santiment shows wallets holding between 10 and 10,000 BTC have collectively accumulated more than 83,000 BTC in the past month, further indicating bullish investor behavior.
4. Bitcoin Supply on Exchanges Hits Six-Year Low
More than 110,000 BTC have been moved off exchanges over the past 30 days, dropping the total exchange balance to just 2.44 million BTC — the lowest since 2018. This suggests that investors are opting for self-custody and have little intention of selling, often interpreted as a sign of long-term bullish conviction.
5. On-Chain Activity Increasing
The Bitcoin transaction volume Z-score, which measures activity on the network, is climbing toward 1. A Z-score above 1 historically aligns with price surges. Analyst Ted Boydston considers this a strong bullish signal and believes BTC could enter a “full bull” phase once the Z-score breaches that threshold.
6. Bullish Technical Pattern Targets $140K
Bitcoin’s price is currently forming a rounded bottom pattern on the daily chart. If BTC breaks above the pattern’s neckline at $106,660 with a daily close, this would confirm a breakout and set the stage for a technical target of $140,000 — a 37% increase from current levels.
Source: Cointelegraph
Arthur Hayes: Bitcoin could reach $1 million by 2028
In a recent blog post dated May 15, 2025, Arthur Hayes, former CEO of BitMEX, predicted that Bitcoin (BTC) could reach $1 million by 2028. He attributes this potential surge to two main macroeconomic factors: the devaluation of U.S. Treasurys and the repatriation of foreign capital. Hayes argues that these dynamics will drive investors toward Bitcoin as a hedge against traditional financial instability.
Hayes emphasizes that the vast holdings of U.S. Treasurys are vulnerable to devaluation, prompting investors to seek alternatives like Bitcoin. He also points to global capital repatriation trends, where investors move funds back to their home countries, as a catalyst for Bitcoin’s rise. These shifts, he believes, will position Bitcoin as a preferred asset for preserving wealth.
Addressing European audiences, Hayes criticizes the European Central Bank’s (ECB) increasing control over financial assets, likening it to a less effective form of communism. He warns Europeans to “get your money out now,” suggesting that restrictive policies could hinder personal financial freedom.
Hayes sets the 2028 timeline based on the next U.S. presidential election, noting that policy changes could significantly impact financial markets. He acknowledges that while a 900% increase in Bitcoin’s price may seem ambitious, rapid shifts in the financial landscape could make such growth plausible.
This projection aligns with other optimistic forecasts in the crypto space. For instance, Michael Saylor, CEO of MicroStrategy, envisions a $10 trillion valuation for Bitcoin, translating to approximately $13 million per coin by 2045. Such predictions underscore a growing belief in Bitcoin’s potential as a long-term store of value.
Currently, Bitcoin is trading at approximately $102,397, reflecting a 1.5% decrease. Despite short-term volatility, proponents like Hayes view Bitcoin as a strategic asset amid global economic uncertainties.
Source: Cointelegraph
Ethereum’s Pectra upgrade unlocks smart contract features for wallets with EIP-7702
The Ethereum Pectra upgrade, activated on May 7, 2025, marks a significant advancement in the Ethereum network, introducing several enhancements aimed at improving user experience, scalability, and security.
Key Features of the Pectra Upgrade:
- EIP-7702 — Smart Contract Capabilities for EOAs:
EIP-7702 allows Externally Owned Accounts (EOAs) to temporarily function like smart contract accounts within a single transaction. This means users can access features such as transaction batching, gas sponsorship, and delegated actions without deploying a separate smart contract. This integration simplifies the user experience and reduces the need for additional infrastructure. - Enhanced Wallet Functionality:
With EIP-7702, wallets can now support advanced features like gasless transactions and multi-signature approvals. For instance, users can pay transaction fees using stablecoins like USDC instead of ETH, enhancing flexibility and accessibility. Wallet providers like Ambire and Trust Wallet have already implemented these features, enabling users to leverage smart account functionalities without creating new on-chain addresses. - Improved Developer Experience:
The upgrade introduces a new transaction type, 0x04, enabling EOAs to execute smart contract logic directly. This facilitates the development of more complex and dynamic applications by allowing better inter-contract communication and more efficient transaction processing. Developers can now build applications that offer features like social recovery, permission control, and subscription-based payments more seamlessly. - Increased Validator Stake Limits:
Pectra raises the maximum effective balance for validators to 2048 ETH, allowing for more substantial staking and potentially enhancing network security and decentralization. This change also supports more efficient validator operations and could lead to higher yields for validators. - Security Considerations:
While EIP-7702 offers numerous benefits, it also introduces new security considerations. The ability for EOAs to delegate control via off-chain signatures could be exploited if users are tricked into signing malicious messages. It’s crucial for users to remain vigilant and for wallet providers to implement safeguards against such potential vulnerabilities.
Implications for the Ethereum Ecosystem:
The Pectra upgrade significantly enhances Ethereum’s usability by bridging the gap between EOAs and smart contract accounts. By enabling advanced features without the need for complex setups, it lowers the barrier to entry for users and developers alike. This evolution is expected to accelerate the adoption of decentralized applications and smart wallets, fostering a more inclusive and efficient Ethereum ecosystem.
In conclusion, Ethereum’s Pectra upgrade represents a pivotal step in the network’s evolution, offering enhanced functionality, improved user experience, and greater flexibility. As the ecosystem continues to adapt to these changes, users and developers can look forward to a more robust and accessible Ethereum platform.
Source: Cointrackdaily