📈 Bitcoin's Bullish Formation - Crypto to $4T! (23 July 2025)

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Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where the hype around cryptocurrencies continues to grow more and more . . .

Could we finally be in the bull market that we have waiting 4 years for?

Our portfolios sure hope so! 😂

Here is what we have for you today!

📊 BLOCKCHAIN BREAKDOWN

• Bitcoin Technical Analysis - Consolidation = Bullish!

• What to Anticipate Next - The Bull Flag Formation May Rocket Bitcoin!

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines - PNC Bank Partners with Coinbase to Launch Crypto Services, Bitwise's Crypto Index Fund May Be Delayed Due to 1 Person!

BITCOIN TECHNICAL ANALYSIS

Is it just us or is everyone refreshing cryptocurrency prices every 5 to 10 seconds?

The overall cryptocurrency market has had a massive movement, achieving a market cap of $3.96 trillion for the first time ever!

Bitcoin has pushed toward the previous all-time high of $123,091.61 - but with its slight pullback today - Bitcoin is sitting at +10.67% in July.

To put that in perspective, that is almost 4X higher than July last year which was at +2.95%!

At a market cap of $2.34 trillion, Bitcoin is battling with Amazon (at $2.42 trillion) to be named a top 5 worldwide asset!

With all of this excitement going on, let’s take a look at Bitcoin’s daily chart to see if higher moves are in our future or if it is time for a pullback in price.

But before we do, a word from today’s sponsor!

Thank you to Attio for sponsoring today’s newsletter!

Since Bitcoin’s first “Bitcoin to dollar” transaction of 5,000 Bitcoin for $5, Bitcoin’s price has come a far way.

With how volatile cryptocurrency is overall, it isn’t unfathomable to see Bitcoin move 1%, 2%, or even 3%.

But keep in mind, 3% of $117,000 is $3,510 . . . in essence, this “thang” can move! Because of this, you must allow price swings to occur!

The reason we mention this, Bitcoin has pulled back in price from the all-time high of $123,091.61 a week ago to ~$117,500 today.

A lot of traders and investors see a ~$6,000 decrease and press the “sell” button faster than me leaving work the moment the clock strikes 5pm.

Let’s take a look below and see how Bitcoin’s daily movement has developed since our last newsletter on Saturday!

🤖 Byte the Bot: “Bitcoin bounces back and forth between resistance and support at $118,386.74. The bull pennant pattern converted into a bullish flag formation.

Caution! If Bitcoin falls below $115,620.04 in price, the bullish flag formation will break with a 34% chance of forming a bearish inverse cup and handle formation.”

Thank you for your insight, Byte! Even with Bitcoin’s recent pullback in price, Bitcoin is holding a bullish formation!

As the consolidation sideways continues, the chances of a bearish inverse cup and handle formation dramatically decrease - which is more good news!

In Wednesday’s newsletter, Bitcoin breaking below $110,000 would enter the “world of hurt.”

And yes, it is as scary as it sounds! However, we must keep in mind that at some point Bitcoin must pullback in price through the area marked “gap to be filled.”

Aside from staying up until 3am every night from excitement of cryptocurrency potentially breaking $4 trillion in market cap, how are we feeling?

Let’s fast forward to the section that covers the thing we call “feelings” - the “What to Anticipate” section!

WHAT TO ANTICIPATE

As covered in Wednesday’s newsletter:

It appears that this has occurred as Bitcoin pulled back down to ~$115,500 on 22 July and the bullish pennant converted to a bull flag formation!

Score 1 for us . . . or Byte, either way!

So now that the magic 8 ball has once again predicted movement, where do we go from here? I believe we all agree on “up,” but how exactly?

📊 Which formations are on our radar? As of now, we are avoiding any major bearish formations . . .

The major bullish formation that we are following is the bull flag formation which is getting stronger every day that passes!

If Bitcoin’s price pushes back to the previous all-time high, we could see a bullish cup and handle formation, but potential of this formation is <20%.

🌍 In a perfect world, what do we see? The sideways price movement that we are currently experiencing from Bitcoin is amazing!

It isn’t too far from what we would want to see in this “perfect world scenario.” So, what is the change that we would like to see?

At some point, Bitcoin will need to decide if $118,386.74 is going to be viewed as resistance or support?

The back and forth is fine at the moment, but if Bitcoin can push above and hold - that would concrete a new all-time high!

The 26th of July should hold more of an answer for us as this date marks support and resistance conversing.

🧠 Our overall thoughts? This is only the beginning! It is very easy to sell at the prices we see today as they are much higher than they were even 6 months ago.

But keep this in mind . . . is the price that we are at right now for any cryptocurrency the price that it could be valued at?

Bitcoin going to $1,000,000 may not happen this year or next, but it is possible as it aligns with the market cap of gold which is currently $23 trillion!

Bitcoin has only been around for 16 years, could you imagine what the price will be in another 16 years?!

Until our next newsletter on Saturday, be safe out there and double, no, triple protect your assets!

BULL MARKET BULLETIN 📌

Bitwise’s Crypto Index Fund Approval Shortly Lived Yesterday, we saw the 10 Crypto Index Fund being led through the approval process and then paused by the US SEC Assistance Secretary, Sherry R. Haywood. This fund is compiled of significant investments in Bitcoin, Ethereum, XRP, Litecoin, and others! Will the SEC reconsider or is this “pausing” a part of a bigger plan?

PNC Bank Partners with Coinbase to Launch Crypto Services With a market capitalization of $64 billion, PNC Bank has now partnered with Coinbase to meet their customer’s demands of access to digital assets. The Head of Treasury Management, Emma Loftus, stated that “as crypto becomes more ubiquitous at a point-of-sale or negotiated into contracts to purchase goods, being able to support our clients . . . will be important - but that’s not tomorrow.”