“Multiple Analysts have repeatedly pointed to $ 120k as bitcoin’s price target this year.”, – WRITE: www.coindesk.com
Price Target this year. Recent Developments have strengten that Bullish Case, Driven by Four Key Factors: The Spot Price, Central Bank Policy, Energy Market Trend, an Technical Setup.
Let’s Take A Look at Those in Detail.
BTC’s Love Affair with $ 100kRecently, A Crypto Tradeer Said That Best Marketing for Any Asset Is Its Price, Highlighting An Idea Which Is Similar to Legendary Trader George Soros’ Theory of Reference. Soros Explained that Market Perceptions and Prices Create A Feedback Loop – Higher Prices Attract More Buyers, Which In Turn Drive Prices Higher, Often Far Beyndaals.
In this context, Bitcoin’s Resilien, Marked by Prices Holding Largely Above $ 100,000 Through The Iran-Israel Conflict and the Us Airstrike on Iran, Is ITS Strongst Appeal.
The Steadfastness Indicates Underlying Strength, Which Could Reassure Holders While Attracting New Buyers, Potentally Fueling The Next Leg Highher in Prices. Moreover, BRIEF DIPS BLOW $ 100,000 Seen in The Past 48 Hours Saw Investors Step in with Bids, Revealing The “Buy The Dip Mentality.”
“We Are Seeing Exchange Outflows, So It Is Likely That People, Regardless of Being Retail or Institutions, Are Buying the Dip. Generally, WHEN IT WARNING TOCRACHTORS Tend to be heavy short-term Dips, WHICH LATER REBOUNDING ON THE SEVERITY AND HOW The SITATION IS COMMUNICATED. Analyst at Nansen, Told Coindesk in An Email Monday.
Meanwhile, Data Tracked by Glassnode Shows Weak Hands Began Selling on June 10, While Convention Buyers Resorted to Bargain Hunting.
“Since June 10, BTC Investors Classified As Loss Selers Rose 29% (from $ 74k to $ 95.6k), Showing Growing Pressure on Weak Hand Collapsing.
Trump Sems to have Found His DovesLiquidity EASING, REPESENTED BY FED RATE CUTS AND Other Measures, Typical Bodes Well for Stocks and Cryptocurrencies. Some Fed Officials Are Warming Up to the Idea of a Potential Rate Cut in July, Who ContraDicts Chairman Jerome Powell’s Data-Dependent Stance.
“Trump sems to have found found his doves,” Forexlive’s Chief Currenncy Analyst and Managing Editor, Adam Button Wrote on Monda Federal Reserve Governor Michelle Bowman Bowman, AA HACHEHEHLELLE BOVMAN, AA AA HACHERLE BANKHECHHEHERLERVANTIVKHERLE Michal Michalle Bowman, AA AA AA HACHERLE CENTNOR Michal Michalle Bowman. CUT RATES IN JULY.
Hawks Are Those Who Prefer Tighter Monetary Policy and Higher Rates to Temper Inflation. Doves are Policymakers Preferring Lower Rates to Support Growth.
Bowman said the Impact of Tariffs on Inflation May Take Longer and Could Be Smaller What Initaly Expectored, Adding That She Wound Support Lowering Theresa Retend MONTHAINA
Fed Governor Christopher Waller Voiced A Similar Opinion Friday, Favoring A Rate Cut in July.
“Now, Maybe It’s Just A CoincIDance That Two Former Hawks Who Are Also Republicans Are Suddenly Doves, But It’s Starting To Look Like A Maga Takeover Of The Fed. [President Donald] Trump has been Consistent About Through His Entire Career (and It Might Only Be One Single Thing), It’s That HE LIKES LOW INTEREST RATES, “Button Wrote.
Chairman Powell’s Semiannual Monetary Policy Testimony to The US Congress Is Due On Tuesday. Powell Is Likely to Reiterate the Fed’s Independence and Data-Dependent Stance While Potentilly Being Grield by Republicans for Keping Rates Elevated.
Oil slideNever Before Has The Crowd Been So Wrong on Crude Oil. On Sunday, The Consensus Was that the Us Military Strikes on Iran and Tehran’s Potential Closure of the Strait of Hormuz would Send Oil Prices Skywards.
But On Monday, Oil Prices on Both Sides of the Atlantic Crashed. The Slide is Good News for Central Banks Feering the Second-Order Effects of the Oil Price Spike Seen Late Last Week, and Those Expecting Rate Cuts.
The Second-Order Effects Typically Include Increasted Transportation Expenses, Higher Prices for Goods Reliant on Oil-Derived Products, and Potential Wages, All Leading in Ana.
“SO MUCH FOR THE FEAR OF Second Order of Oil That Central Bankers Proclaim. Crude Oil Down 6.5% on the Day and 15.41% Yoy..that’s Deflation,” James E. Thorne, Chief. SAID ON X.
Bullish Technical SetupMomentum Indicators – Key Moving Average – Are Once Again Again Aligned Bullishly.
The 100-Day Simple MOVING AVERAGE (SMA) HAS Just Crossed Above the 200-Day SMA, Weeks After the 50- and 200-Day Smas Produced a Bullish Golden Crossover.
The Result is that Three Widly-Trages Arages Are Stacked One Above the Other in a Classic Upward-Sloping Bullish Momentum Formation. A Similar Configuration Emerged in November Last Year and Remoned Intact Througout the Entire Rally from $ 70,000 to $ 100,000.
Bitcoin’s Daily Chart. (TradingView/Coindesk)
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