Bitcoin bulls 'in control’ as BTC price rebounds to $118K
Main Idea
Bitcoin's price rebounds to $118,000 after a liquidity grab below $115,000, with traders eyeing higher levels and analysts predicting significant price increases by year-end.
Key Points
1. Bitcoin's price rebounded to $118,300 after a correction below $115,000, with daily gains surpassing 2%.
2. Analyst Ash Crypto noted that Bitcoin closed above bullish key levels and filled the CME gap at $115K, indicating bulls are in control.
3. Fundstrat’s Tom Lee predicts Bitcoin could reach $250,000 by the end of 2025, citing its potential as 'digital gold' and undervaluation.
4. Other analysts, including Bitwise researchers and Stockmoney Lizards, also forecast Bitcoin prices reaching between $200,000-$230,000, driven by factors like tax cuts and rising US debt.
5. Breaking the $120,000 level could trigger a liquidation squeeze, further driving price momentum.
Description
Bitcoin delivers a classic liquidity grab with a correction below $115,000 only to bounce back, while traders eye a BTC price showdown with new all-time highs next.
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