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Bitcoin triumphantly persists in consolidating recent gains around and just below the now-iconic $110,000 mark, as it happens for the second time in the crypto world's history. The first time this hill has been climbed to stay at the top between mid-December and mid-January, when attempts to break higher ultimately failed. But it was only a matter of time before a retest of the resistance area, naturally formed here, would be called for. A further correction to $75,000 was prompted by growing uncertainty over tariff wars and the US central bank's ambiguous stance on the interest rate cuts. Lower prices for the leading crypto asset provided markets with fresh buy positions at discount prices, as Bitcoin has already given investors plenty of promises for the future in the course of the US post-election rally.

Trade tensions between Asia and America, as well as America and Europe, although these conflicts are clearly approaching some consensus agreements and will lead eventually to positive shifts in national budget deficits and public debts, will not be slow to give another kick in the depreciation of the US Dollar, the Euro, the Chinese Yuan, and all other fiat currencies against the whole mass of goods and the volume of services provided globally. When the voice and the size of traditional currencies of measurement becomes muted, then Gold and some most popular crypto assets that are correlated with those currency units, will inflate over time. An inevitable process, and so I believe in new heights for Bitcoin soon at least for this reason. The other reason lies in the mountain of newly-baked US crypto reserves.

Another thing is that the long-term statistics of classical approaches, purely from the point of view of technical analysis, suggests that the second touch of resistance areas more often leads to another pullback before the final exit to substantially higher levels takes place. So, even if the upper limit is surpassed first, for example, in the form of a false break structure to $115,000 or so, then another dive into the range between $90,000 and $100,000 cannot be excluded before talking seriously about Bitcoin prices beyond $120,000. A ground behind possible but moderate downward move could be a simple profit-taking by the most satisfied but non-euphoric part of the speculative crowd, while the big players may still stay in business and even add more buy positions in case of a temporary price decline, if any. Let's say that at the end of the first quarter of 2025, electric car maker Tesla had over 11,500 Bitcoins on its balance sheet, but Tesla's shareholder meeting said it plans to keep its entire crypto stash despite the company's tough times. Probably they, and surely I, have no doubt that both $120,000 and $150,000 will shape Bitcoin over the course of this year, if not in the coming months. Through the new normal underworld below $100,000 again, or launching like a rocket straight into the sky, a particular path is now incomprehensible and impossible to know, but this journey to the moon will happen.

Binance CEO Richard Teng just gave his quiet warning as the crypto market enters a new phase, he turned investors' attention to what he believes are the true sources of long-term value, excluding hype, headlines or short-term bias. His three core ideas are that long-term vision beats fast trends, community strength compounds over time and having early conviction in the right assets to lead to growth "far beyond initial expectations". A maturing market is where attention is being turned away from speculation toward patience, structure and belief in utility, he said, as "macro conditions begin to tilt further in crypto’s favor". "Bonds are breaking down. Yields are rising. Trust in traditional risk shelters is fading", and this triple motto explains why Bitcoin will remain attractive even at high levels. The crypto network value and user conviction can build over time. While Ethereum is not surging, but rather stable now, altcoins are starting to see "early inflows, particularly in themes like decentralized finance, layer-2 solutions, artificial intelligence and tokenized assets", he added.

I would also mention here the factor of rapidly rebounding equities, which in parallel triggers proportional extra volumes of rising investments in the crypto environment, as growing S&P 500, Nasdaq and the Dow Jones become new rulers to create new dimensions for money relocations. A lot of money is still on the waiting mode looking for a safer place to stay, and Bitcoin could well be not the only one, but just one of such important places in order to avoid too much concentration in the tech segment, while the broader market may be at higher risks of a global economic slowdown.

Meanwhile, former BitMEX CEO and now Maelstrom’s head Arthur Hayes directly links recent changes in US fiscal policy to the rising price of Bitcoin, predicting a rise in the cryptocurrency above $110,000 and even $200,000. In an essay "Ski Cut" in late April Hayes described how the macroeconomic policies of the U.S. Treasury and the Federal Reserve is driving further increase in liquidity to reinforce optimistic sentiment about Bitcoin. He compared the situation in the third quarter of 2022, when quantitative easing continued and Bitcoin faced pressure below $16,000 and could fall to $10,000, with the recent period of concerns about a possible drop from $75,000 to $60,000, which didn't happen. And he is not alone in his bold thoughts. Well, folks, I don't know anything and I can't say anything about Bitcoin for $1,000,000. I'm not even ready to seriously discuss this, because we might as well be discussing $1 billion or $1 trillion, if we are crazy or high enough. But, against the background of such hot forecasts, it seems to me that few investors are going to stop before the "weak" barrier of $150,000. The so-called "measured move" from classical books on technical analysis may point to targets around $150,000 as realistic, by the way. What do you think?