Potential Bitcoin surge imminent as inflation decreases, with $200,000 within reach?
Bloody 'ell, the market's on a bit of a seesaw, ain't it?
The recent inflation figures came in at a measly 0.1% for May, much to the relief of folks fretting over the ol' economy. Sit back, relax - for now, at least. The annual inflation rate flits around at 2.4%, though, still hangin' above the Fed's bloody 2% target. So, rate cuts? Nah, they ain't on the menu, despite President Trump trying to bend the Fed's arm.
Now, what about them cryptos?
The CPI ain't got a thing on Bitcoin when it comes to excitement. Year-on-year, Core CPI landed at 2.8%, but Bitcoin? Oh, she's a whole different kettle of fish.
Technical analysis' got Bitcoin lookin' pretty sprightly. Put simply, it reckons we're in for a bull run. For one thing, the weekly price is perched above the 20 and 50-week moving averages, keepin' that long-term momentum going strong. The OBV's movin' past the December 2025 high, indicatin' steady buying volume even after that bit of a blow in March and April. The CMF agrees, climbin' above the +0.05 mark like a pricey, digital bull.
The price action's screamin', "Up, up, and away!" with a new high past the previous weekly close high at $104.4k. That's a sign this swing structure's bullish, mate.
Oh, and there's a fair value gap at $98k-$100.7k. That's a key support zone, tested in June. But here's the kicker - if the price slides below $106.5k, there could be trouble ahead, possibly with a move toward $100k-$102k.
But hey, holders ain't panicin' just yet, expectin' much higher prices, thanks to a bit of reduced profit-taking and a bloody good demand for Bitcoin.
Now, 'bout that $200,000 question... Ain't no simple answer. Institutional confidence and adoption, technical indicators, market sentiment, liquidity, and speculation are all factors that could launch Bitcoin through the roof. Major financial institutions like BlackRock are jumpin' aboard the Bitcoin train, and analysts like Bitwise are predictin' prices of $230,000 by the end of 2025. It's a wild ride, ain't it?
Disclaimer: All this drivel doesn't count as financial advice or anything of the sort. It's just me spoutin' off.
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- The technical analysis of Bitcoin suggests a potential bull run, with the weekly price staying above the 20 and 50-week moving averages, increasing buying volume, and key indicators like the CMF climbing above the +0.05 mark.
- The recent high of Bitcoin past the previous weekly close high at $104.4k indicates a bullish swing structure, but a slide below $106.5k could potentially lead to trouble and a potential move toward $100k-$102k.
- Institutional confidence, adoption, technical indicators, market sentiment, liquidity, and speculation are some of the factors that could possibly drive Bitcoin's price above $200,000, as major financial institutions like BlackRock are getting on board and analysts like Bitwise are predicting prices of $230,000 by the end of 2025.
