Japanese Analyst Reveals: “Bitcoin Has $120,000 on the Horizon” – Here’s His Views

According to some analysts, it has become “visible” that Bitcoin will test the $120,000 level in the coming ￰0￱ to Bitbank analyst Yuya Hasegawa, it may take up to a week for the market to fully absorb the effects of the FED's interest rate cut after a nine-month hiatus. “The continued risk appetite following the FOMC meeting makes the improvement in the technical outlook an additional support element for ￰1￱ puts the $120,000 test within reach,” said the Tokyo-based analyst, noting that a full reversal could be on the horizon following a successful ￰2￱ week's statements from Fed Chair Jerome Powell and Vice Chair for Supervision Michelle ￰3￱ will be closely ￰4￱ FOMC's updated projection suggests the possibility of two additional interest rate cuts in 2025, but Powell hasn't made a firm commitment on the ￰5￱ News: New Cryptocurrency Law with Significant Impact in the US Shows Progress A strong dollar and weak bonds (rising yields) are the primary risks for now, according to Hasegawa.

However, he noted that this is a short-term reaction resulting from markets pricing in too sharp a discount for next year. Meanwhile, Jake Ostrovskis, head of OTC trading at Wintermute, noted that investors in the options market are predominantly selling premiums and placing upward ￰6￱ said, “Trading is driven by call spread selling in the $125,000-$150,000 ￰7￱ suggests investors don't expect Bitcoin to break out much beyond this range.” *This is not investment ￰8￱ Reading: Japanese Analyst Reveals: “Bitcoin Has $120,000 on the Horizon” – Here’s His Views