BTC, Expected to surpass 120,000 dollars within this month…Optimism spreading

A forecast has been raised that Bitcoin could reach 120,000 dollars within this month. Cryptocurrency investment firm Matrixport analyzed in a recently released weekly report that "technical indicators and market flows are supporting Bitcoin's rise."

According to the report, since April, there has been a steady inflow of funds into BTC spot ETF, and price volatility remains historically low. In particular, it is noteworthy that July is a seasonally favorable period for BTC. Matrixport explained, "The average increase rate for July is 9.1%, which is historically a month that has shown a strong trend."

In addition, macroeconomic factors such as the possible reversal of the United States Federal Reserve's policy direction are also strengthening the upward trend. Matrixport predicted that in this environment, BTC could surpass 116,000 dollars and rise to a maximum of 120,000 dollars.

As investors' optimistic sentiment strengthens, there is a possibility that price momentum will also accelerate along with breaking through major resistance levels.