$150K Bitcoin Price Is What Traders Really Want, But When? – Crypto News – Crypto News
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$150K Bitcoin Price Is What Traders Really Want, But When? $150K Bitcoin Price Is What Traders Really Want, But When?

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$150K Bitcoin Price Is What Traders Really Want, But When? – Crypto News

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Key takeaways: 

  • Bitcoin market structure and multi-faceted adoption still support a longer-term rally to $150,000. 

  • Regulatory tailwinds, along with the Trump administration’s expansionary economic mandate, support a BTC price rally to $150,000 and higher. 

Bitcoin (BTC) is making a run back toward the $120,000 level, but most traders want to know what it will take to spark a rally to $130,000 and $150,000. 

From a technical point of view, the Sunday night rally above $120,000 was the result of a futures-market-driven short squeeze that resulted in more than $1 billion in liquidations across the crypto market. 

According to Cointelegraph’s head of markets, Ray Salmond, while the spot follow-through needed to sustain prices above $120,000 is not easily discerned on centralized exchanges,

“A strong, global spot bid is ever present via the Bitcoin ETFs, publicly listed companies actively building BTC treasuries, and an assortment of companies investing in Bitcoin infrastructure.” 

With the release of this week’s CPI and PPI data and the market having time to digest the new phase of Trump tariffs, which go into effect on Aug. 1, the risking-off that was seen at the Wall Street open on Monday and Tuesday appears to have passed. 

Positive newsflow such as President Trump managing to convince the US House to successfully pass a procedural motion which would allow the GENIUS stablecoin bill and the Digital Asset Market Clarity Act to proceed to a final vote, a 3-month high in spot BTC ETF inflows and news that Cantor Fitzgerald and Adam Back are on the verge of a SPAC that would result in Cantor Equity Partners receiving up to 30,000 Bitcoin all play a role in boosting sentiment.

Related: Three US crypto bills revived after initial failure in House vote

On the Bitcoin daily chart, explicit confirmation of the inverse head-and-shoulders pattern occurred as price closed above $112,000 on Thursday, and the pattern has a target at $143,000. 

BTC/USD 1-day chart. Source. Aksel Kibar / X 

Currently, futures market activity continues to drive price discovery and intra-day price moves through liquidations, and to see a more sustained run toward $150,000, successive daily closes above $130,000 are needed. 

BTC/USDT 1-day chart. Source: Velo Data

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.