My people! Attention, attention! The crypto community is not changing for anyone, and with good reason! Bitcoin (BTC), the king of cryptos, just made a leap that has us all excited. It finally broke the barrier of $109,500! 🎉 This is not just any gossip, it’s a sign that a new all-time high is coming!
The thing is that several analysts, the ones who scrutinize the market, are saying that Bitcoin’s price could go up to $137,000. Yes, you heard right! This is serious business and is based on something called a "bullish flag pattern". Imagine a flag waving upwards, that’s what Bitcoin is doing!
One of the heavyweights confirming this is veteran Peter Brandt, he knows what he’s doing! Also, the guys from 10x Research saw it clearly. In their latest analysis on July 3rd, they set a target of $135,000 for BTC. And why are they so sure? Because Bitcoin ETFs are still getting a ton of money (people are investing like crazy!), the Bitcoin available on exchanges is decreasing (less supply, higher price!), and the pressure for the Federal Reserve to lower interest rates is heating up. 🔥
Markus Thielen from 10x Research said this is a key moment, with July historically being a good month for Bitcoin, and with the labor market data just around the corner. The stage is set for a price party! 🥳
Even Peter Brandt, who is a playful guy, posted an "upside down" chart of Bitcoin to throw people off, asking if it was a "bearish flag". Of course not! He was just confirming in his unique style that the bullish flag is there and that a parabolic rally (that is, a massive rise) for Bitcoin’s price is expected, possibly up to $140,000!
Other experts like Titan of Crypto are also on the same wavelength, pointing to that $137,000 and highlighting a bullish MACD crossover (a technical signal that supports the rise). And let’s not forget Matrixport, which reminds us that July is almost always a winning month for Bitcoin, with an average gain of 9.1% over the last 10 years. Seven out of ten times it has risen in July!
So, the outlook is painted green, green, green! The price of BTC rose 4% in the last 24 hours, reaching $109,163. Trading volume also surged by 22%, people are active! Technical indicators like the RSI are at 60, which tells us there’s room to keep rising.
And to top it all off, CoinGlass data shows that there are massive purchases in the derivatives market, with an 8% increase in total open interest for BTC futures, a clear sign that traders are betting on the upside!
Get ready, because Bitcoin might be about to give us a show worthy of fireworks! 🎆 Will we see that new record soon? Stay alert!$BTC
