BTC holds $101.5K despite tariff news; bullish sentiment for $120K persists – Crypto News – Crypto News
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Bitcoin trades over $101.5K; analysts eye $120K amid corporate accumulation Bitcoin trades over $101.5K; analysts eye $120K amid corporate accumulation

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BTC holds $101.5K despite tariff news; bullish sentiment for $120K persists – Crypto News

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  • Bitcoin trades above $101.5K in Asia, showing resilience despite new U.S. tariff uncertainties.
  • Analysts see continued bull market, with Polymarket traders pricing a 69% chance of BTC hitting $120K by year-end.
  • Pythagoras Investments’ Gabeljic notes BTC’s lower volatility compared to other digital assets amid tariff news.

Bitcoin (BTC) commenced the Asian trading day holding steady above the $101,500 mark, demonstrating resilience in the face of fresh tariff-related uncertainties emanating from the Trump administration.

While near-term volatility remains a factor, market analysts and traders appear increasingly focused on a sustained bull market through the remainder of the year, with a significant degree of confidence that Bitcoin will reach or surpass the $120,000 level, underpinned by persistent corporate buying and a notable decline in overall market volatility.

The current market environment is characterized by a degree of caution, as unexpected tariff increases announced by the Trump administration have introduced some choppiness.

“The uncertainty from unexpected tariff increases by the Trump administration is causing some volatility,” Semir Gabeljic, director of capital formation at Pythagoras Investments, acknowledged in an email to CoinDesk.

However, he emphasized Bitcoin’s relative stability amidst these pressures: “However, bitcoin remains relatively strong, with lower volatility compared to other digital assets.”

This underlying strength is further supported by a persistently bullish sentiment among institutional players.

Gabeljic highlighted this by noting that traders on the prediction market platform Polymarket are “pricing in a 69% probability that Bitcoin will hit at least $120,000 by year-end.”

This indicates a strong conviction in Bitcoin’s continued upward trajectory, despite any intermittent market headwinds.

Echoing this optimistic outlook, FlowDesk, a Paris-based market maker, shared a similar sentiment in a recent note on Telegram, even amidst recently subdued market conditions.

“The market is clearly coiling, waiting to break out of a narrow band just below all-time highs,” FlowDesk wrote in their market update note.

They also observed a “significant repositioning and rotation from Bitcoin towards altcoins,” but crucially added that “BTC’s underlying strength remains evident.”

FlowDesk also pointed to some signs of cautious market behavior, such as a modest decline in BTC funding rates on major exchanges like Binance, which typically suggests a reduction in the use of leverage by traders.

However, on-chain borrowing activity has reportedly seen renewed vigor, a potential leading indicator that some market participants are anticipating an imminent breakout.

The unwavering trend of Bitcoin accumulation

A powerful and enduring narrative bolstering the bullish case for Bitcoin is the continued and accelerating accumulation of BTC by corporate treasuries.

Listed companies now reportedly hold approximately 809,100 BTC, an amount valued at nearly $85 billion. This figure represents a near doubling of corporate Bitcoin holdings compared to a year ago.

This significant uptake is being driven by a combination of factors, including favorable regulatory shifts and recent accounting changes that now allow companies to recognize gains on their Bitcoin holdings more readily.

This trend of corporate adoption underscores a fundamental belief in Bitcoin’s long-term value proposition and its utility as a treasury reserve asset.

“The expectation of a continued strong bitcoin remains,” Gabeljic affirmed, suggesting that this institutional and corporate buying pressure is a key pillar supporting the market’s current strength and future potential.

As Bitcoin consolidates and traders navigate short-term uncertainties, the underlying accumulation by larger entities provides a strong foundation for continued optimism.
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