Bitcoin is once again gaining momentum, and traders are speculating whether a new bullish phase is underway—one that could push the price toward the $150,000 mark. While BTC recently broke above $120,000, analysts warn that reaching a new all-time high will require more than short-term hype.
🔹 Back Above $120K Fueled by Short Squeeze
The recent weekend breakout above $120,000 was primarily driven by a massive short squeeze in the futures market, leading to over $1 billion in liquidations across the crypto space.
According to market analysts, the key question now is whether the rally can hold, since futures markets alone can't sustain price growth without robust spot market demand.
🔹 ETFs and Corporations Keep Accumulating BTC
The real long-term driving force remains the steady spot demand from Bitcoin ETFs, public companies expanding their BTC treasuries, and major institutional investments in crypto infrastructure. Together, these factors continue to apply upward pressure on price.
🔹 Inflation Data, Tariffs & Regulation in Focus
This week’s CPI and PPI inflation data and the market's digestion of Trump’s new tariff policies (set to take effect August 1) have also influenced investor sentiment. Additionally, the House of Representatives has approved procedural voting for two key crypto bills: GENIUS (stablecoin regulation) and the Digital Asset Market Clarity Act, signaling progress toward a clearer regulatory framework.
🔹 Cantor Fitzgerald Bets Big on Bitcoin
Adding to the bullish sentiment, Cantor Fitzgerald and Adam Back are reportedly preparing a SPAC merger that could result in Cantor Equity Partners acquiring up to 30,000 BTC. The move reflects growing institutional confidence in Bitcoin’s future.
🔹 Chart Patterns Point to $143K Target
Technically, Bitcoin confirmed an inverse head and shoulders pattern, with a breakout above $112,000 activating a projected price target around $143,000.
However, analysts emphasize that a sustained rally toward $150,000 will require multiple daily closes above $130,000, making this level a crucial barrier for the next leg up.
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