Bitcoin is currently in Wyckoff Phase E, indicating a likely breakout to $125K. This is further supported by a confirmed golden cross moving average on May 24, suggesting bullish momentum.
Market analysts speculate that Bitcoin could reach $260K by August or September, driven by low selling pressure and decreasing transaction volume to exchanges, which is bolstering bullish sentiment.
The upcoming U.S. Senate vote on critical crypto legislation could introduce volatility, affecting Bitcoin’s market trajectory. The current conditions present a supportive environment for renewed investment confidence.
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