Bitcoin bulls 'in control’ as BTC price rebounds to $118K

10 hours ago

Key takeaways:

Bitcoin traders present crook their absorption to higher levels aft Friday’s $115,000 liquidity grab.
Fundstrat’s Tom Lee predicts Bitcoin could deed $250,000 by year-end.

Bitcoin (BTC) recovered sharply aft sweeping scope lows connected Friday and is trying to proceed its uptrend into the weekend, indicating that bulls are inactive successful power of the market.

Bitcoin traders oculus highs aft $115K liquidity grab

Data from Cointelegraph Markets Pro and TradingView showed regular gains surpassing 2% arsenic BTC/USD reached $118,300 connected Bitstamp.

Now up $3,700 versus play lows seen connected Friday, Bitcoin impressed traders, who began to hole for a caller onslaught connected all-time highs.

“Bitcoin closed supra the bullish cardinal levels and filled the CME spread astatine $115K,” said fashionable crypto expert Ash Crypto successful an X station connected Saturday.

As Cointelegraph reported, Bitcoin’s driblet to $115,000 was accompanied by the massive liquidation of overleveraged positions, but it provided an accidental for investors to adhd exposure.

“Institutions bought the dip,” Ash Crypto wrote, adding:

“Bulls are successful control.”

Earlier, Cointelegraph reported connected expectations that terms enactment would displacement to instrumentality liquidity some supra and below, with $114,000 and $118,500 arsenic the cardinal levels successful play.

The latest information from monitoring assets CoinGlass present shows liquidity being taken with the latest determination supra $118,000, portion the adjacent large clump sits astatine $120,500.

“Liquidity doesn’t lie. Price gets pulled to wherever the stops are,” fashionable trader Merlijn The Trader noted successful portion of an X reaction, adding:

“The $120K portion isn’t conscionable glowing, it’s calling. And $BTC ne'er ignores the call.”

If the $120,000 level is broken, it could spark a liquidation squeeze, forcing abbreviated sellers to adjacent positions and driving prices toward $124,000, which is simply a high-liquidity cluster.

Bitcoin astatine $250,000 “makes sense,” says Tom Lee

Fundstrat’s caput of research, Tom Lee, says Bitcoin could ascent to $250,000 by the extremity of 2025, a forecast helium has reiterated aggregate times.

During a caller interview connected CNBC, Lee was asked astir the levels the BTC terms could scope implicit the adjacent fewer months.

“I deliberation the $200,000 to $250,000 scope for Bitcoin inactive makes sense,” Lee answered, adding, “because that would inactive lone worth it astatine 25% of the size of the golden market.”

Lee argued that Bitcoin could presently beryllium undervalued arsenic “digital gold,” arsenic it should beryllium implicit $1 cardinal per BTC.

“So I deliberation integer golden means Bitcoin should beryllium worthy implicit a cardinal dollars per Bitcoin. That could hap successful the adjacent fewer years, but possibly pricing successful 25% of that – particularly with the Genius Act – makes sense.”

Lee isn’t the lone 1 calling for BTC terms to emergence supra the $200,000 mark. These see Bitwise researchers André Dragosch and Ayush Tripathi, who said BTC terms could scope betwixt $200,000-$230,000 by the extremity of the year, citing Trump’s projected taxation cuts and rising US debt.

Crypto expert Stockmoney Lizards predicted Bitcoin could highest astir $200,000 based connected a method breakout.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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