Bitcoin is more likely to soar to a new $110,000 all-time high on easing monetary policy than to stage another correction below $77,000.
Bitcoin may reach a new all-time high of $110,000 before any significant retracement, according to some market analysts who cite easing inflation and increasing global liquidity as key factors supporting a price rally.
Bitcoin (BTC) has been rising for two consecutive weeks, achieving a bullish weekly close just above $86,000 on March 23, TradingView data shows.
Combined with fading inflation-related concerns, this may set the stage for Bitcoin’s rally to a $110,000 all-time high, according to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom.
