Bitcoin is back in the spotlight as forums discuss its potential to reach $130,000 in the next 90 days. This surge in expectations follows Bitcoin's best weekly performance in two months.
Bitcoin Correction as a Healthy Pause
Renowned Bitcoin researcher Axel Adler Jr. stated the recent correction represents a healthy pause for the market. He noted that Bitcoin's on-chain metrics have not reached overheating levels, indicating that this movement does not signal the start of a bear market.
Bitcoin Price Analysis: Forecast to $130,000
According to Adler Jr.'s analysis, Bitcoin's price could rise to $130,000 in the next 90 days. He cautioned that experienced traders might take profits once the price exceeds $123,000, which could exert short-term pressure on prices.
Risks and Opportunities on the Way to $130,000
Velo data shows that open interest in Bitcoin futures markets increased by $1.5 billion in the last 24 hours. Funding rates remain neutral. Anonymous analyst IT Tech PL warns that high levels of open interest combined with rapid price increases could pose liquidation risks.
The Bitcoin market continues to be a subject of expectation and speculation, with its future movements to be determined by both market dynamics and investor actions.
