But Bitcoin could just be getting warmed up for yet another rally, according to top traders. The most bullish prediction right now sees Bitcoin aiming for the $166K zone, a recent Fibonacci analysis suggests.
Indeed, the OG crypto is already back in the green with a recovery to $114K.
A potential rebound could also benefit other Bitcoin-adjacent projects, like Bitcoin Hyper ($HYPER), which recently surpassed $7M on its ICO.
Bitcoin, which has mostly traded under $115K at the beginning of August, could be gathering momentum for another rally.
This is according to crypto analyst ‘Crypto Uncle,’ who shared his insight in a CoinMarketCap post on August 4.
The poster cited the presence of higher highs and higher lows as the indication that the crypto’s uptrend is intact. Bitcoin could even rally towards $166K following a potential 52% rally, according to the same post.
This is based on historical price trends, where consolidation periods, like $BTC’s recent hovering around $115K, typically precede big parabolic moves.
Bitcoin Fibonacci chart. Source: CoinMarketCap (User @CryptoUncle0x)
$BTC has had a rough start in August, primarily fueled by yet another round of tariffs revealed by US President Donald Trump on Friday, which fueled risk-off sentiment in the broader crypto market.
A potential rebound could push Bitcoin to new highs and create a domino effect for the crypto market at large. And other Bitcoin-related projects, such as Bitcoin Hyper ($HYPER), could be in high demand.
Bitcoin Hyper ($HYPER) fuels a tech-centered project – an innovative Layer-2 that brings Solana-like speed, cost-efficiency, and smart contracts to Bitcoin users.
While there’s no arguing about Bitcoin’s status as the number one cryptocurrency, its outdated network has a few downsides: slow transactions, high fees, and limited scalability.
And due to its limited smart contract interoperability, the Bitcoin network limits $BTC to being primarily a store value.The Bitcoin Hyper project wants to change this by bringing new utility, fueled by its L2 and canonical bridge.
By bridging and minting wrapped $BTC on a side-chain with Solana-Virtual-Machine (SVM) capabilities, Bitcoin users could soon unlock DeFi, NFTs, and blockchain gaming platforms, eliminating the need to hold additional assets like $ETH or $USDT.
Bitcoin Hyper will enable a full suite of Web3 use cases, while its use zero-knowledge proofs retains the robust security that Bitcoin is known for.
Fueling the project is the $HYPER token, which has many ecosystem uses:
Launched in May, Bitcoin Hyper is already shaping up to be one of the hottest presales of the year. It breached the $7M mark today and is well on its way to reaching the next $8M milestone next.
The $HYPER token is expected to hit exchanges and become tradable in Q4, 2025, after the full deployment of the Hyper L2 and the first SVM dApps.
To get in early and support the project, you can head to Bitcoin Hyper’s official page and get the $HYPER token for just $0.012525. Note this price will increase in just 11 hours from now.
To learn more about Bitcoin Hyper’s technology and security, check the official whitepaper and security audit.
Downturns are a fact of life in any form of trading, something that even the likes of Bitcoin aren’t immune to. What’s key is to keep your eyes peeled on the market and watch out for potential trends that may impact Bitcoin’s price.
As it stands, it seems that $BTC is still on a bullish uptrend, with no real threat to its value in the foreseeable future.
This should help support its potential rebound and give a much-needed boost to related Bitcoin utility projects like Bitcoin Hyper ($HYPER).
This is not investment advice. Please do your own research before you join a project and remember that crypto offers no guarantees.
