Bitcoin Soars to Record Weekly Close as Musk and Trump Fuel $136,000 Price Target Hype

The price of Bitcoin (BTC) continues to capture global headlines as it achieved its strongest weekly close in history, settling above $109,200 for the first time ever. With both U.S. President Donald Trump and tech mogul Elon Musk making bold pro-Bitcoin moves, analysts now believe Bitcoin is on the verge of an explosive rally that could push its price toward a staggering $136,000 in the coming weeks.

This latest bullish momentum marks a significant milestone for Bitcoin, surpassing the previous weekly close record set in May by $140. But for crypto enthusiasts and institutional investors alike, this appears to be just the beginning of a much larger price surge.

Trump’s Economic Policies Boost Bitcoin Sentiment

President Trump, a long-time advocate for “hard assets” and deregulation, has once again become a catalyst for Bitcoin’s bullish trajectory. On July 4, Trump signed the so-called “One Big Beautiful Bill” into law, raising the U.S. debt ceiling by $5 trillion and making his 2017 tax cuts permanent.

The legislation, while welcomed by some market participants, has sparked fresh concerns about the sustainability of America’s national debt, which could balloon by an additional $7 trillion over the next decade. In response, investors have been pouring into risk assets like Bitcoin, viewing the digital currency as a hedge against potential currency debasement and long-term inflation.

Further fueling market optimism, Trump also announced a delay in the next round of U.S. tariffs until August 1, giving traders a temporary reprieve from escalating trade tensions. According to market analysts, this policy mix of increased liquidity and geopolitical uncertainty is creating an ideal environment for Bitcoin to thrive.

Musk’s America Party Declares Bitcoin Support

Meanwhile, Elon Musk has made his own headlines by confirming that his newly launched centrist America Party will officially embrace Bitcoin. Responding to a follower on X (formerly Twitter), Musk remarked, “Fiat is hopeless, so yes” — signaling his growing alignment with the crypto community.

Musk, known for his influential sway over digital assets, has frequently warned that the U.S.’s ballooning deficit could “bankrupt the country.” His latest political move has not only widened the rift between him and Trump but has also injected fresh energy into Bitcoin’s narrative as an alternative financial system.

Price Predictions: $136K and Beyond?

Market analysts remain optimistic that Bitcoin’s rally is far from over. Research from Bitwise indicates that Bitcoin’s price historically surges by up to 30% within 50 days of major geopolitical de-escalations, such as the recent easing of tensions between Iran and Israel.

If that pattern holds true, Bitcoin could be on track to hit $136,000 by late July.

Technically, Bitcoin faces potential resistance around $115,300, as highlighted by a trendline connecting the 2017 and 2021 market highs. However, when viewed on a logarithmic price chart, which better reflects Bitcoin’s historical exponential growth, the next significant resistance level could be as high as $223,000, aligning with long-term bullish projections.

Despite the impressive gains, experts caution that short-term pullbacks are possible, particularly near key resistance points. Still, the overall market sentiment remains overwhelmingly positive, with Bitcoin holding above $100,000 nearly every day for the past two months.

Crypto Market Snapshot

At the time of writing:

• Bitcoin (BTC) is trading at $108,915, marking a 0.8% increase over the past 24 hours.
• Ethereum (ETH) has also seen gains, climbing 2.6% to $2,580.

As global central banks continue to cut interest rates and inject liquidity into the financial system, risk-on assets like cryptocurrencies appear poised for further growth. With influential figures like Trump and Musk backing Bitcoin, and technical indicators signaling more upside potential, July 2025 could mark a historic chapter in Bitcoin’s ongoing bull market.