Bitcoin (BTC) has surged by 23.6% in the past month and has managed to break above the psychological $100,000 barrier in the past few days as bulls have once again taken over the price action.
Bitcoin-linked exchange-traded funds (ETFs) attracted $920 million in net inflows last week according to data from CoinGlass. The week before, inflows were even higher as some degree of FOMO may have kicked in.
Positive developments in the political front including President Trump’s willingness to negotiate and reach an agreement on tariffs with China and other countries have also contributed to shifting the market’s sentiment – somehow radically.
The Fear and Greed Index has made a U-turn as it recovered from a record low of 15 (Extreme Fear) a month ago to 73 at the time of writing, meaning that investors are now greedy. Who would have thought things would change so quickly.
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In addition, the Federal Reserve hinted that they are worried about an increase in unemployment. This would support a more supportive attitude toward making their planned interest rate cuts for the year.
As inflation in the United States remains above the 2% target, investors may also see Bitcoin as a safe haven, as gold once was or is for some, to hedge their assets against an erosion in the dollar’s purchasing power.
Bitcoin’s Ascending Triangle Breakout Could Push it to $160K
Looking at Bitcoin’s daily chart, an ascending triangle has formed in the past couple of weeks after the 21-day exponential moving average (EMA) jumped above the 200-day EMA.
There have been previous instances where this kind of formation has resulted in a significant rally for Bitcoin. The last time it happened was in February 2024, when the price surged from $49,000 to $74,000 in just one month – a 54% gain.
If a similar breakout occurs in this case, Bitcoin could easily jump to a range between $140,000 and $160,000.
However, this formation also opens up the door for a potential triple top – a bearish setup that could result in another significant drop for BTC in the near term.
As the price gets close to the $108,000 level, traders should keep an eye on the price action. Another rejection of a move above could confirm a bearish short-term outlook.
However, a decisive bullish breakout accompanied by above-average trading volumes will mark the beginning of a strong push toward new all-time highs and possibly to these high targets for BTC.
As Bitcoin keeps rising, a crypto presale called BTC Bull Token (BTCBULL) will hand out rewards to token holders based on a series of price-based milestones that the top crypto could soon reach.
BTC Bull Token (BTCBULL) Offers Token Burns and Airdrops Tied to Bitcoin Price Milestones
BTC Bull Token (BTCBULL) has raised nearly $6 million as investors have discovered its novel rewards mechanism, which consists of token burns and airdrops every time BTC adds another $25,000 to its price.
The mechanics of the rewards system are quite simple. Starting at a baseline price of $100K, which Bitcoin has already crossed, investors will be compensated every time the price adds another $25,000.
The first milestone is then set at $125,000, at which point a portion of BTCBULL’s circulating supply will be burned to foster scarcity and raise the price of this meme coin.
Next up, once the price gets to $150,000, token holders will receive a direct BTC airdrop.
These actions are enforced by smart contracts and automatically executed as Bitcoin reaches these prices. These contracts have been audited by two firms – Coinsult and Solid Proof – to ensure that they will execute the expected transactions.
To buy $BTCBULL and start earning passive income as Bitcoin reaches new heights, head to the BTC Bull Token website and connect your wallet. You can either swap USDT or ETH for this token or use a bank card to make your investment.
