My people, get comfortable because I bring you some hot gossip from the crypto world! 🔥 It seems that Bitcoin is not just partying, but is gearing up to break the bank and reach $120,000! Will the price explode like a rocket on New Year’s? 🚀
Well, it turns out that the people betting that Bitcoin would fall, that is, the "bears", are throwing in the towel. Yes, folks! They are closing their bets against it because Bitcoin is stronger than ever, like an oak in the middle of a storm. And this, of course, is filling people with optimism, thinking that a rise is coming that will leave us speechless.
Experts say there are clear signals in Bitcoin derivatives (think of this as more sophisticated bets on the future price) that show people are no longer seeking as much protection in case the price drops. It’s as if confidence in Bitcoin has been recharged to 100%! 🔋
Additionally, hold on to your seats! U.S. import tariffs on Japan and South Korea have shaken the global economy, increasing fears of a recession. And guess what? This makes Bitcoin shine brighter than ever as a safe haven! It’s like when there’s a blackout and the only candle that lights up is Bitcoin. 🕯️
Since last Wednesday, Bitcoin has been dancing between $107,300 and $110,600, as if waiting for the perfect moment to jump. And many in the market are saying that the new liquidity injections from the world’s largest central banks could be the fuel that propels Bitcoin to the stars. Pure premium fuel! ⛽
A very astute analyst, TedPillows, pointed out that Bitcoin has lagged compared to the chart of money circulating globally. And if history repeats itself, Bitcoin is poised for epic gains! This same market guru also mentioned that if the deadlines for those U.S. import tariffs are delayed, it’s a green light for Bitcoin to reach $120,000! 🚦
U.S. Treasury Secretary Scott Bessent announced that tariffs will increase on August 11 for countries that do not reach an agreement with the Donald Trump administration. The original deadline was July 9, so this delay is like a breath of fresh air, a sign that perhaps a trade war that no one wants might be avoided. What a relief! 🙏
There was a moment on Saturday when the demand to protect against a Bitcoin drop soared, but by Monday, the situation had calmed down and people were more interested in betting that the price would rise. This is key because if traders were betting heavily on a drop, the price of Bitcoin futures would be affected. And although on Saturday the premium of those futures dropped a bit, by Monday it was already above the neutral level of 5%! What a rollercoaster! 🎢
So, even though derivative metrics don’t scream "buy now!", the scare of a sharp drop has already passed. This shows renewed confidence from investors, especially when we see that the S&P 500 index (which is like the thermometer of the American economy) fell by 0.9% on Monday. Bitcoin holding strong! 💪
Trade tensions, with Trump announcing a 25% tariff increase on Japan and South Korea, have put people on the defensive. But Bitcoin’s ability to stay above $107,000, combined with improving derivative indicators, reinforces the idea of a leap to $120,000!
At the end of the day, the success of this prediction will depend on whether people start to see Bitcoin not just as a risky investment, but as a safe haven and even as an alternative financial system! Can you imagine that!$BTC
