#BinanceTurns8 Analyst points out that Bitcoin could rise to 120,000 dollars, but first it would have to break this key level.
With support from ETFs, institutional accumulation, and macroeconomic uncertainties, Bitcoin is establishing itself as a safe haven and could aim for 123,000 dollars still this month.
The recent appreciation of Bitcoin reflects a combination of factors intertwined in an increasingly challenging international scenario, marked by geopolitical tensions, signals of a possible easing of monetary policy in the United States, and a renewed institutional interest in crypto assets.
On one hand, the market is already anticipating the possibility of interest rate cuts by the Federal Reserve, a move that usually favors alternative assets like Bitcoin, seen as a store of value against the loss of purchasing power of fiat currencies.
At the same time, persistent financial volatility and episodes of fragility in traditional systems, such as the recent hacker attack on the Central Bank of Brazil, are leading investors to seek instruments that function as a safe haven in times of instability.