Analysts are citing a $120,000 price target for Bitcoin (BTC) this year, supported by several key factors. Bitcoin's price resiliency has been observed, particularly holding above $100,000 despite global conflicts, which could attract further market participants. Additionally, Federal Reserve discussions hint at potential rate cuts that could positively impact cryptocurrencies and stock markets, while recent declines in oil prices may ease inflationary fears, further supporting these anticipated cuts. On the technical front, bullish indicators are present as major moving averages align favorably. This includes the 100-day simple moving average crossing above the 200-day average, creating a classic bullish momentum formation. The combination of market perception dynamics and favorable economic conditions may drive Bitcoin prices higher, appealing to both retail and institutional investors while reinforcing the notion of 'buy the dip.'

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