Bitcoin Prepares for a Journey to $145,000: Critical Levels Set!

Bitcoin (BTC) may initiate a new rise towards $145,000, surpassing critical resistance levels despite the stagnant appearance of the markets.

Cryptocurrency markets slightly declined on Thursday due to cautious statements regarding inflation and global trade concerns, despite the Federal Reserve keeping interest rates steady. Bitcoin (BTC) traded at approximately $104,700 with a 1.2% loss during Asian trading hours, while Ethereum (ETH) fell 1.8% to below $2,860. This situation correlates with investors increasing their short positions in the options market to hedge against short-term risks.

QCP Capital, based in Singapore, noted that the cryptocurrency market has entered the traditionally calm June-July period, highlighting that short-term trading volumes in BTC have dropped below 40%, leading to a tranquil market appearance.

New peak scenario for Bitcoin

Crypto strategist Joel Kruger emphasized that Bitcoin's technical outlook remains strong, suggesting that if the recent high levels are surpassed, the door to the $145,000 target could be opened. According to Kruger, Bitcoin's current consolidation is positive and supports upward movement.

On the Ethereum side, although still distant from the peak levels of 2021, Kruger mentioned that momentum has increased, stating that if the $2,900 level is surpassed, the next target would be $3,400.

Analysts believe that while no significant movement is expected in the markets in the short term, the second half of the year is historically anticipated to be stronger for crypto assets. Kruger warned investors, “The worst may be behind us, and the next wave of increase could catch many investors off guard.”