Bitcoin data points to a rally up to $120,000 after pro-BTC traders abandoned their bearish bets
Traders are unwinding their bearish positions as Bitcoin remains strong, fueling optimism for a potential breakout to $120,000.
Bitcoin data points to a rally up to $120,000 after pro-BTC traders abandoned their bearish bets
Market Analysis
Key Takeaways:
Bitcoin derivatives show reduced demand for downside protection, suggesting renewed investor confidence.
U.S. import tariff increases to Japan and South Korea have intensified recession fears, boosting Bitcoin's appeal as a hedge.
Bitcoin
BTC
€93,039
has been trading within a tight range of $107,300 to $110,600 since Wednesday, fueling speculation about the potential for a sudden price rally. Market participants are increasingly confident that new liquidity injections from major central banks could serve as a catalyst for a Bitcoin bull run.
