Bitcoin: Is $120,000 in Sight? The Metrics Point to July 7
Why This Report Matters
Bitcoin’s recent performance offers crucial lessons for active allocators.
A tactical pivot at $85,000 in mid-April generated a +16% return (here), while our broader market framework identified key resistance and support levels guiding call-spread strategies.
This report unveils the interplay between technical breakouts, on-chain validation, and macro catalysts—such as Fed communications and tariff shocks—that have shaped the rally.
We also evaluate secondary opportunities in select equities, assess volatility dynamics, and outline precise entry and hedging tactics for the summer run.
If you trade crypto or manage allocation, these insights will help you stay ahead of shifting market regimes.
Key Takeaways
1. Core View: Bitcoin’s break above realized price and trend-model flip at $85,000 signaled a durable bullish regime.
2. Key Driver: A confluence of stablecoin inflows, ETF accumulation, and a downtrend breakout fueled continued upside toward $100,000–$106,000.
3. Major Risk: Muted funding rates amid rising open interest reflect cautious positioning, risking a pullback if macro headwinds intensify.
4. Recommended Trade: Retain $100K/$100K upside call spreads, roll into $110K–$120K strikes with June expiry, and hedge via S&P 500 short positions.
No Surprise: Bitcoin Hits $100,000 Again—Still Prefer Upside Call Spreads
We initially missed the absolute low on April 9, as price found support just above our larger support zone.
However, by April 12–13, around $85,000, our trend model turned bullish: a downtrend break combined with an RSI surge signaled a regime shift.
We detailed this pivot in a YouTube explainer (here) and across social channels, framing the key levels and expected behavior.
Read the full report: https://update.10xresearch.com/p/bitcoin-is-120-000-in-sight-the-metrics-point-to-july-7
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