The Bitcoin celebrated an impressive comeback on Wednesday and marked a new all -time high at $ 112,000. After weeks of consolidation, the cryptocurrency ignited the turbo. A well -known bull now puts the crossbar even higher and will soon see the course at $ 150,000.
The optimism follows a two -week phase of uncertainty, in which many analysts feared that the Bitcoin lacks the strength to overcome its previous record high in May. These worries now seem to be off the table.
“We'll see you at $ 150,000”
With these words, Kyle Reidhead, co-founder of the crypto newsletter Milk Road, spoke out on the platform X on Wednesday. He referred to an earlier contribution from the end of June, in which he recognized a “Bullish Cup Handle formation” in the chart. This formation, according to its forecast, will catapult the Bitcoin to $ 150,000.
Tradingview
Perfect timing for the outbreak
The advance of a new all -time high seems to be coming at the ideal time. The economist Timothy Peterson only had a few hours earlier Cointelegraph explained that the market may have had to wait until October if the Bitcoin would not reach new highs within the next two weeks. This hurdle has now been taken.
The market mood is also noticeable. The Crypto Fear & Greed Index, an important mood indicator, climbed 5 points to a value of 71, which is in the area of ”greed” and indicates growing optimism. At the same time, the Coinmarketcap Altcoin Season Index with a value of 100 (out of 100) signals that the market is still strongly focused on Bitcoin.
alternative.me
Caught trader on the wrong foot
Not all market participants had expected a new record high. On Tuesday, analysts from Bitfinex said that traders hesitated to buy Bitcoin at the current level because the cryptocurrency has difficulty finding the strength for an outbreak.
This caution is also reflected in the lit positions of the traders. According to Coinglass data, Bitcoin-short positions worth around $ 217.55 million have been liquidated in the last 24 hours. The data also show that further short positions worth $ 1.6 billion are threatened with liquidation if the Bitcoin should only increase by a few thousand dollars to $ 115,000.
The outbreak of Bitcoin via its old all -time high is a bang and a clear starch signal. The dynamics are largely carried by institutional money by the spot ETFs, which gives the upward trend a solid foundation. The technical image has also brightened up significantly. Of course, investors remain on board.
Reference to conflicts of interest
The board and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, is directly and indirectly received positions on the subsequent financial instruments mentioned in the publication or this related derivatives that can benefit from the price development resulting from the publication: Bitcoin – United States dollar.
