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

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

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

Singapore-based QCP Capital noted that the market has taken on a calm appearance with short-term trading volumes in BTC dropping below 40% as the typically quiet June-July period in the crypto markets begins. While open interest in futures remains stable, put options are trading at higher premiums compared to call options in the options market.

New Peak Scenario for Bitcoin

On the Ethereum side, although it is still far from the peak levels of 2021, Kruger indicated that if the $2,900 level is surpassed, the next target would be $3,400.

Furthermore, the recent approval of the bill containing stablecoin regulations by the U.S. Senate is viewed positively by institutional investors.

According to analysts, 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 by saying, "The worst may be behind us, and the next wave of increase could catch many investors off guard."