Bitcoin to $120,000? Here’s What Must Happen First, per Analyst

Bitcoin (BTC) is currently trading around $104,000, and several analysts foresee a potential surge to $120,000 in the near term. However, certain conditions must be met for this target to materialize.

Key Factors for Bitcoin to Reach $120,000:

1. Maintaining Support at $90,000: Analyst Ali emphasizes that Bitcoin must hold the $90,000 support level to achieve the $120,000 target. This level is considered crucial as it represents a stable foundation for the next bullish phase.

2 . Institutional Investment Growth: Standard Chartered's Geoff Kendrick predicts Bitcoin could hit $120,000 in Q2 2025, driven by increased institutional interest, especially from pension and sovereign wealth funds.

3 .Macroeconomic Factors: Economic uncertainties, such as rising tariffs and questions over Federal Reserve policies, are leading investors to view Bitcoin as a superior safe-haven asset compared to traditional options like gold

4 .Technical Indicators: Analyst Xanrox projects a bullish run to a new all-time high between $120,000 and $125,000, based on technical analysis and Fibonacci Extension targets.

 
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