- Bitcoin enters wave 5, targeting $350K after breaking key technical levels.
- Institutional buying and ETF inflows fuel sustained bullish momentum.
- Public companies now hold over 849,000 BTC, adding long-term support.
Bitcoin — BTC , has taken a bold step upward—one that has traders tightening their grip. With wave 5 starting to build steam, the digital giant might be eyeing its steepest climb yet. Momentum is shifting fast, and signs point toward something big. Not just another rally. A possible eruption toward $350,000. That’s not hype. That’s a calculated target based on real chart signals, bullish inflows, and a revised Elliott Wave structure that’s taking shape.
A New Pattern Emerges—Wave 5 Takes the Lead
On the weekly chart, Bitcoin’s price now traces a step-like formation. Analysts have updated the Elliott Wave count to reflect this. Blue wave 3 ended at $110,000. Blue wave 4 bottomed at $75,000. Now, blue wave 5 is in motion—starting with subwaves i and ii. The next confirmation point? A break and close well above the previous all-time high. That would light the fuse for subwave iii and trigger a possible parabolic move.
Eyes now watch for that decisive move to unleash Bitcoin’s next major leg. Standard Chartered’s Geoff Kendrick believes this setup could lead to Bitcoin’s strongest second-half ever. The bank sees treasury buys and ETF flows pushing prices higher, even as Q3 may get bumpy. And those inflows aren’t slowing down. Despite a brief $342 million ETF outflow on Tuesday, Bitcoin ETFs still manage over $130 billion in assets.
BlackRock’s iShares Bitcoin Trust leads the pack with more than $70 billion alone, growing faster than any ETF in history. Kendrick says strong ETF demand will return quickly and continue supporting higher prices into Q4. He expects both Q3 and Q4 acquisitions to beat Q2’s massive 245,000 BTC haul. This kind of sustained buying pressure is rare. It fuels the climb toward new highs.
$350K No Longer Sounds Crazy
Bitcoin traded around $109,459 after jumping 3.1% in 24 hours. That puts it more than 2% above last week’s level. And while short-term moves matter, long-term positioning now sets the tone. A whopping 141 public companies currently hold 849,400 Bitcoin—worth over $92 billion. One company alone, MicroStrategy, controls 597,000 BTC. That stash is valued at more than $65 billion.
Weekly buying from giants like these injects real confidence into this market. Even politics can’t drag Bitcoin down lately. The crypto market shook off U.S. trade war worries and Federal Reserve drama with barely a blink. Fed Chair Jerome Powell admitted the central bank could’ve started rate cuts earlier, but policy delays haven’t stopped buyers.
Wave 5 isn’t just a technical label anymore. It represents conviction. Force. Momentum that feels almost inevitable. And if this formation holds, the next milestone might just rewrite every Bitcoin headline: $350,000.
