Markus Thielen of 10x Research indicates that many traders remain underexposed to Bitcoin. With bullish tendencies in the cryptocurrency market, expected growth is on the horizon.
Overview of Current Market Situation
Crypto investors may be underexposed to Bitcoin, especially as traders show increasing confidence in this asset. Thielen notes that many traders are underpositioned following last month's options expiry, which led to significant exposure roll-off.
Expert Predictions for Bitcoin's Future
Thielen points to a potential price of $133,000 for Bitcoin by September, based on the current price range and strong trading signals. "Our trading signals suggest this short-term breakout has a 60% probability of further upside," says Thielen, adding that historical analogs point to gains of around +20%.
Political and Economic Factors Influencing Bitcoin's Price
Among the catalysts pushing Bitcoin higher, Thielen mentions the upcoming US Consumer Price Index release and a positive political backdrop linked to the upcoming US crypto week.
Considering current forecasts and potential catalysts such as political events and market trends, Bitcoin may be entering a new growth phase. Investors should closely monitor market developments.
