#cryptotradingpro

🚀 $BTC Price Soars to $117,764, Eyes $124,000! 📈

#BTC is just 0.85% shy of its all-time high of $118,856, driven by surging demand from retail & institutional traders. The $BTC /DXY ratio signals more upside, with a potential climb to $124,146 if it matches January’s highs (+5.42%). 📊

🔍 Why the rally?

• 🇺🇸 US dollar at a 3-year low, boosting BTC as a hedge against currency devaluation.

• 💸 US debt skyrockets past $36T, with $18T added in 5 years, per Bitwise CIO Matt Hougan.

• 📉 DXY weakness & rising 10-year note yields (4.40%) fuel inflation fears, pushing investors to #crypto.

• 🏦 Fed’s potential July rate cuts could further weaken the dollar, supercharging BTC gains.

📈 Technicals: Bitcoin’s double-bottom pattern hints at a bullish reversal, potentially breaking $120,000. With US debt surging and DXY crumbling, the rally may just be getting started! 🚀