BITPRISMIA
Bitcoin is nearing a critical resistance level at $112,000, with low exchange inflows suggesting strong investor conviction, while analysts monitor potential for a decisive breakout or further consolidation.
The Bitcoin Policy Institute (BPI) proposes a model bill for US states to allocate 3% of their reserves to Bitcoin, aiming to hedge against inflation and enhance fiscal stability, with three states already enacting similar laws.
Bitcoin's price surge to over $113,000 led to $575.22 million in short positions being liquidated, with analysts eyeing $125,000 as the next target.
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Analysts suggest that if Bitcoin's market dominance drops below 65%, altcoins could experience significant price increases due to a shift in market sentiment.
Max Keiser predicts Bitcoin will reach $220,000 by July 10, 2025, following its recent all-time high of over $112,000.
Legendary trader Peter Brandt is bullish on Bitcoin (BTC) but warns of a potential breakdown if the $107,000 support level is not held, which could invalidate the current expanding triangle pattern.
Former Binance CEO Changpeng Zhao (CZ) suggests that now might be an ideal time to buy Bitcoin, emphasizing his belief that 'everything before the next all-time high (ATH) is a dip,' reflecting long-term bullish optimism.
Institutional investors like BlackRock and Metaplanet are accumulating Bitcoin in record numbers, but the price remains below its all-time high due to selling pressure from early whales and other market factors.
Bitcoin surged above $111,000, nearing its all-time high, driven by strong market activity and spot ETF inflows.