$150K Bitcoin Price Is What Traders Really Want, But When?
Bitcoin (BTC) is approaching the $120,000 level, with traders focused on what is needed to reach $130,000 and $150,000. A recent rally above $120,000 was driven by a futures-market short squeeze, resulting in over $1 billion in liquidations. A strong global spot bid exists through Bitcoin ETFs and companies building BTC treasuries. Upcoming CPI and PPI data, along with new Trump tariffs effective August 1, have influenced market sentiment. Positive developments include the US House passing motions for the GENIUS stablecoin bill and the Digital Asset Market Clarity Act, alongside a three-month high in spot BTC ETF inflows. The Bitcoin daily chart shows an inverse head-and-shoulders pattern targeting $143,000. Sustained movement toward $150,000 requires daily closes above $130,000.
