Bitcoin (BTC) Price Eyes $120K Breakout as Market Ignores Fed’s July Rate Cut Delay
The post Bitcoin (BTC) Price Eyes $120K Breakout as Market Ignores Fed’s July Rate Cut Delay appeared on BitcoinEthereumNews.com.
Key Insights: Bitcoin price likely to hit $120k, top experts predict, citing technical trends. Fed rate cuts delayed, but Bitcoin momentum stays intact. Realized cap jumps $30B, signaling fresh capital inflows. Bitcoin price hovered near $103,000 as traders braced for another breakout. Despite the Federal Reserve’s hawkish tone, traders eyed a move toward $120,000 as short liquidations loomed. Data from TradingView showed BTC consolidating after briefly tapping $105,000. Traders remain split, but several forecast a continuation of the uptrend if the flagship crypto reclaims $108,000. Besides, a renowned expert has recently claimed that the leading crypto might breakout to $120k if it clears a key resistance level ahead. $5B Short Liquidation Trigger Nears as Spot Buyers Dominate Glassnode data showed a sharp spike in BTC’s spot buying volume this week. The 7-day simple moving average of Bitcoin’s Spot Volume Delta turned positive, reaching $5 billion on May 13. That surge indicates aggressive spot market participation, typically preceding strong upward moves for Bitcoin price. Bitcoin Realize cap. Source: Glassnode The rally is led by real demand rather than leverage. Glassnode also reported a $30 billion increase in Bitcoin’s Realized Cap since April 20. This metric, which calculates the total BTC value based on the last moved price, is growing at 3% monthly in May. “This is not just speculative leverage; this is real conviction,” said one Glassnode analyst. Analyst @HolaItsAk47 pointed to a massive short squeeze risk. He warned that over $5 billion in Bitcoin shorts could get liquidated at $115,000. Short squeeze brews above | $104K Bitcoin price level. Source: X “The squeeze is real. Are you positioned right?” he asked his followers. Can Bitcoin Price Surge Despite Waning Fed Rate Cut Bets? CPI data on May 13 showed inflation cooling faster than expected, which initially sparked hopes of a Bitcoin price rally…
Filed under: News - @ May 15, 2025 11:22 am