Bitcoin is set to rise towards $119,000 with oil up 19%..
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Bitcoin is heading toward $119,000 with the current rise in oil prices, as historical data shows that Bitcoin often rises by 16-24% after significant increases in oil prices. If the current pattern repeats, Bitcoin could reach $119,200 by June 21.
*Factors Influencing Bitcoin Price:* ⤵️⤵️⤵️⤵️⤵️
- *Rising Oil Prices*: The price of American crude oil jumped by 19%, which could positively impact Bitcoin's price.
- *Geopolitical Pressures*: Geopolitical pressures may initially affect Bitcoin's price, but historical patterns show a strong recovery afterwards.
- *Global Liquidity*: Global liquidity affects Bitcoin's price, as the price increases with rising liquidity.
*Historical Examples:* ↙️↙️↙️↙️↙️
- *January 2025*: Oil jumped to $80.50, Bitcoin dropped to $89,300, then rose by 22% to $109,300 in 7 days.
- *October 2024*: Oil rose to $77.50, Bitcoin fell to $58,900, then rose by 16% to $68,960.
- *August 2024*: Oil rose to $80, Bitcoin fell to $56,150, then rose by 16% to $65,000.$BTC