Bitcoin Price Prediction: Treasury ‘No Buy’ Triggers Panic Dip – Smart Money Sees Opportunity, Not Fear
Main Idea
The article discusses Bitcoin's price volatility following the U.S. Treasury's decision to halt direct market purchases, analyzes technical indicators for potential breakout, and introduces a new Bitcoin-native Layer 2 project called Bitcoin Hyper ($HYPER).
Key Points
1. Bitcoin's price dipped after the U.S. Treasury announced it would stop direct market purchases, removing a predictable buyer and increasing potential price volatility.
2. Technical analysis shows Bitcoin forming a bullish flag pattern, with key support at $118,819 and resistance at $123,236, suggesting potential for a breakout.
3. The U.S. Producer Price Index (PPI) rose 3.3% annually and 0.9% monthly, reducing the likelihood of a September rate cut and impacting market sentiment.
4. Bitcoin Hyper ($HYPER) is introduced as a Bitcoin-native Layer 2 project leveraging Solana Virtual Machine (SVM) for fast, low-cost smart contracts and dApps, with its presale raising over $9.7 million.
5. Long-term Bitcoin price predictions suggest potential targets of $130K and $250K, depending on market conditions and investor sentiment.
Description
Bitcoin retreated on Thursday after the U.S. Treasury clarified it will not expand its planned Bitcoin reserve through direct market purchases. Prices briefly touched $124,120 before reversing sharply, sliding to $118,550 by the close. As of Friday, BTC is trading at $117,929, consolidating near key support after the sell-off triggered forced liquidations in parts of the crypto futures market. Treasury Secretary Scott Bessent told Fox Business the government will rely solely on confiscated asset...
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