4 weeks ago
Bitcoin (BTC) roseate past $120,000 for the archetypal clip connected record, taking the year-to-date summation to 28%.
BTC is presently trading supra $121,000 arsenic of midday Hong Kong time, according to CoinDesk marketplace data.
The determination follows President Donald Trump's determination to impose a 30% tariff connected the EU and Mexico, starting Aug. 1, and marks a bullish solution to astir 48 hours of choppy terms enactment that allowed overbought signals from short-duration indicators to reset to bullish.
The absorption present shifts to the U.S. ostentation information owed this week, which is expected to amusement the outgo of surviving ticked up successful June against the backdrop of Trump's commercialized war.
According to FactSet, economists expect that the user terms scale (CPI) roseate 0.25% connected a monthly ground successful June, equating to 2.6% annualized growth. The halfway CPI, which excludes the volatile nutrient and energy, is forecast to person risen 0.3% monthly and 3% connected an annualized basis.
Risk assets, including BTC, whitethorn wobble a spot if ostentation accelerates, delaying the Fed complaint cut. That said, the downside could beryllium constricted fixed the beardown momentum successful presumption of firm adoption of BTC, ETF inflows and affirmative regulatory outlook successful the U.S.
According to John Glover, CEO of Ledn, BTC's rally has legs and prices could emergence to $136,000 by the year-end.
"We person yet breached to caller highs, which confirms that the dip to $96k successful precocious June satisfied the question (ii) pullback (yellow line) wrong the larger Wave 5 (orange line)," Glover said successful an email.
"While this doesn’t alteration the eventual people of circa $136k to implicit this bull run, it does apt trim the clip it volition instrumentality to complete. I was antecedently looking for this successful Q1 of 2026, but present it looks apt to deed $136k by year-end," helium added.
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