Bitcoin Breaking $117,000 Could Trigger Parabolic Rally – Analyst 📈
This week, Bitcoin experienced a volatile trading session, fluctuating between $95,000 and $98,000. Crypto analyst Burak Kesmeci identifies critical levels at $94,000 and $117,000 for Bitcoin's future movement. Should Bitcoin close above $117,000, Kesmeci predicts a potential bull rally. Conversely, dropping below $94,000 could trigger a bearish trend.
Bitcoin's future movements could hinge on ETF inflows, corporate interest, and the US pro-crypto agenda. However, rising Fed interest rates and inflation pose risks. Bitcoin's exchange inflows of $1.3 billion suggest possible bearish market signals as investors prepare to sell.
At publication, Bitcoin trades at $97,653, with a market cap of $1.93 trillion, though daily trading volume has decreased.
Source: www.newsbtc.com ↗
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