Bitcoin Reaches New Highs, Analysts Predict $150K Target
- Bitcoin (BTC) achieved a new all-time high of $112,000 on Wednesday.
- Kyle Reidhead, co-founder of Milk Road, forecasts Bitcoin could reach $150,000 based on a bullish pattern.
- The Crypto Fear & Greed Index increased to a “Greed” score of 71 out of 100.
- In July, approximately $1.04 billion flowed into US-based spot Bitcoin ETFs.
- Over the past day, about $217.55 million in Bitcoin short positions were liquidated.
The recent surge in Bitcoin’s price follows weeks of consolidation and heightened market sentiment driven by institutional participation and ETF inflows. Analysts indicate that the current momentum may be pivotal for Bitcoin’s future performance amid global economic uncertainties.
As Bitcoin trades at approximately $111,383 following its record high, the potential for reaching $150K remains a focal point among analysts and investors alike.(Source)
