Bitcoin data, macroeconomic charts point to new BTC all-time high ‘in 100 days’ — Analysts
Bitcoin's chances of reaching a new high within 100 days have increased, with a target of $135,000 predicted if the CBOE Volatility Index (VIX) remains low. The VIX has decreased from 55 to 25, indicating a favorable "risk-on" environment for Bitcoin. Fidelity's Jurrien Timmer noted Bitcoin's dual nature as both a store of value and a speculative asset, highlighting its sensitivity to macroeconomic conditions compared to gold. The stablecoin market cap has reached a record $220 billion, suggesting increased liquidity in the crypto market and potential for Bitcoin's price rise. However, negative funding rates in BTC futures indicate a rise in short positions, creating conditions for a possible short squeeze that could drive Bitcoin towards $100,000, with over $3 billion at risk for short-side liquidation.
