Our previous position has been going green and I’m not expec | Cas Abbé on Binance Square

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Our previous position has been going green and I’m not expecting a pullback to $100K just yet
$107K is the next target imo - $BTC 

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Retail is shorting BTC heavily. BTC is down just 4% from its ATH, and the funding rate has turned negative. This is why most people are calling for a crash as they will get rekt if BTC pumps. But we all know what'll happen next. Whenever the majority takes one side of a trade, the market usually moves to the other side. In this case, I'm more and more convinced that BTC will soon hit a new ATH.

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🇺🇸 US Jobless Claims came in at 236K, lower than the expected 245K Labor market cooling steadily. The Fed is getting what it wants. Rate cuts are coming closer and market knows it.

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Bitcoin’s illiquid supply just hit a new ATH, 14.35M $BTC now in strong hands Less $BTC available = higher potential for explosive moves ahead

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China keeps on adding more liquidity. This week, PBOC has injected 1.5 trillion yuan into its economy via reverse repo operations. And the biggest reason behind this is DXY dump, which gives freedom to others countries to print more without worrying about currency devaluation. All of this is pushing global M2 supply to new highs, which means BTC pump will be even bigger. $130K-$140K BTC in Q3 is coming 🚀

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Crypto MCap has been in an uptrend since 2023. During that timeframe, it has pumped nearly 350% and there's still upside left. But there has been one thing which has happened differently. During the last 2 cycles, alts pumped alongside BTC. This cycle, BTC has pumped 600% from the bottom but alts have underperformed massively. This is due to millions of token launches, along with Fed tightening monetary policy. But now, this is about to change. The Fed is hinting towards Q3 pivot, and PumpFun hype is also slowing down. In a nutshell, there'll be more liquidity but less token launches. This'll start Altseason 3.0 and will be life-changing for Altcoin holders.

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