Bitcoin Data Hints at $120K Surge Ahead
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Traders are unwinding their bearish positions as Bitcoin holds strong, fueling optimism for a potential breakout to $120,000.
Bitcoin derivatives show reduced demand for downside protection, suggesting renewed investor confidence.
US import tariff hikes on Japan and South Korea intensified recession fears, boosting Bitcoin’s appeal as a hedge.
Bitcoin has been trading within a tight $107,300 to $110,600 range since Wednesday, fueling speculation over the potential for a sudden price rally. Market participants are increasingly confident that fresh liquidity injections by major central banks could serve as a catalyst for a Bitcoin bull run.
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