How high can Bitcoin rally before it truly ‘corrects’ itself’? Analyst says…

Key Takeaways

Stockton says Bitcoin could continue climbing toward $135,000; this is supported by strong technicals and historical price patterns. 

Bitcoin [BTC] could still have fuel in the tank before hitting the brakes.

According to Katie Stockton, Founder and Managing Partner of Fairlead Strategies, the king crypto may climb as high as $135,000 in the coming weeks — even as signs of a cooldown begin to appear.

Why $135K isn’t off the table yet

Referring to the seven-to-eight-week consolidation before Bitcoin’s recent surge, Stockton said on CNBC’s Closing Bell segment,

“This breakout did follow a pause that obviously refreshed the uptrend…We saw that $108,300 level that we’ve been citing cleared, and it happened very decisively.”

Based on the recent price breakout, Stockton’s team at Fairlead used measured move projections to estimate that Bitcoin could reach approximately $135,000 as its next intermediate-term target. She mused,

“While this may have seemed pretty aggressive a few days ago, maybe now a little less so.”

With Bitcoin hitting a record high of $123K and over 265 companies now holding it on their balance sheets, Stockton sees further upside. Not just for BTC, but for crypto-linked stocks like Coinbase and Strategy as well.

Momentum intact, but exhaustion seeps in

The Bitcoin daily chart shows Stockton’s outlook of continued upside, with signs of caution.

RSI was at 65.15 at press time, just shy of the overbought zone, so there’s still room to run before hitting overheated levels.

The MACD remained in bullish territory, indicating sustained momentum. However, the Stochastic RSI has begun to turn downward from the 90s, a potential sign of short-term exhaustion.

Despite a minor dip below $117K, BTC remains well above both its 50-day and 200-day Moving Averages. In all, the chart supported the $135K target in the intermediate term, though a brief pause or pullback wouldn’t be surprising.

BTC has a pattern, and we may still be mid-rally

Looking at historical trends, Bitcoin doesn’t correct immediately after breaking all-time highs. In 2017 and 2021, BTC continued rallying for 3–6 months post-ATH before topping out.

The current run — starting in late 2024 — mirrored that, with fresh highs still relatively new. The steep climb past $120K is aggressive, but not unusual.

If history repeats, BTC could push higher into Q4 2025 before a significant drawdown sets in.

While momentum may slow intermittently, the broader trend suggests that the $135K target remains well within reach before any major correction takes hold.

Derivatives show controlled optimism

The derivatives market supports the idea of more upside ahead.

Aggregated Open Interest surged past $41 billion, showing growing participation… but not reckless leverage. Crucially, the Aggregated Funding Rate hovered at 0.0183, a relatively neutral level.

So traders are leaning bullish, but not in an overheated way.

The absence of spiking Funding Rates meant the rally isn’t being driven by excessive long speculation, which often precedes sharp corrections.

Combined with the steady climb in price and historical patterns, Bitcoin’s move toward $135K may still be unfolding, not topping out.