#BTC110KSoon?
Bitcoin's price shows strength, but will BTC bulls be able to surpass $110,000?
The correlation of Bitcoin with stocks and uncertainty about the future of the U.S. economy may limit BTC's price gains below $110,000.

Market analysis
Key highlights:
Price gains for Bitcoin above $110,000 may be limited by BTC's correlation with stocks and fears of recession in the U.S.
Bitcoin
BTC
R$ 611,756
rose 3.5% between June 7 and June 9, approaching the mark of $108,500. Despite this recent rise, professional traders remain notably cautious, as reflected in BTC's derivative metrics. Broader macroeconomic tensions persist, and Bitcoin continues to show a strong correlation with the stock market, limiting its upside potential in the short term.
Some analysts anticipate that Bitcoin could rise to $150,000 as the U.S. government approaches a $4 trillion increase in the debt ceiling. However, futures market data suggests hesitation in the short term, likely driven by unfavorable macroeconomic signals and a misreading of Bitcoin's potential supply shock.