Bitcoin has taken a leap. It went from being at 112 thousand dollars to now flirting with 114 thousand, almost 115 thousand! But there is one number that has everyone on edge, and that is the figure 118,000 dollars.
Why is this number so important? Because according to an analyst who is very clear about it, Ali Martínez, if Bitcoin does not break that barrier, its advance is not confirmed, and it may get stuck. It's like a final exam it has to pass to move on to the next level, that is, to a new historical record.
But what is moving the market? It turns out that the very head of the Federal Reserve, Jerome Powell, dropped the bomb that he might lower interest rates in September. Aha! And if interest rates go down, money moves more easily, people are encouraged to invest, and riskier assets like cryptocurrencies get hotter than the Caribbean weather. 🔥
Be careful, because not everything is a party. While the price rises, Bitcoin ETFs in the United States are losing investors. In one week, more than 1.17 billion dollars have left these funds. This leads some to believe that big investors are moving away from Bitcoin and heading towards altcoins (the other cryptos) like Ethereum, which is also on fire.
Despite that, the atmosphere is one of optimism. Other analysts like Captain Faibik believe that if Bitcoin stays above 114 thousand dollars, 118 thousand is just a matter of time.
And the most optimistic of all, CryptoELITES, dared to say that Bitcoin could reach 260 thousand dollars in the future. Imagine that! 🤯
In summary: Bitcoin is at a decisive moment. The Federal Reserve's policy is giving it a push, but it needs to overcome the resistance of 118 thousand dollars for the real party to begin. The game is between the fear of those leaving and the ambition of those betting that Bitcoin has no ceiling.
Will Bitcoin manage to break that barrier and start its run towards a new historical record, or will it remain trapped in this limbo? We need to be attentive, because the coming days will be key.$BTC