Bitcoin (BTC) has broken through to a historic high, with long positions eyeing the next target of $150,000?

Today (10) in the Asian early trading session, Bitcoin (BTC) continues to hover above 111,000 USD. Bitcoin bulls indicate that after Bitcoin set a historical high of 112,040 USD, it may pump to 150,000 USD. Technical Analysis shows that Bitcoin has broken through key resistance levels, indicating strong bullish momentum.

Bullish factors stimulate BTC to continue rising

1. The Federal Reserve released the minutes of the June meeting, and investors are positioning for "rate cut trades"

The minutes of the June meeting published by the Federal Reserve brought complex yet suggestive messages to the market. The minutes indicate that there are clear divisions within the Federal Reserve regarding the monetary policy outlook, dividing into three main camps: the mainstream camp, the hawkish camp, and the dovish camp. In the mainstream camp, most participants assessed that it may be appropriate to lower the target range for the federal funds rate this year but ruled out the possibility of an immediate rate cut in July; in the hawkish camp, a minority of participants believe that the target range for the federal funds rate should not be lowered this year; in the dovish camp, a minority of participants (possibly including Fed governors Waller and Bowman) pointed out that if data developments align with their expectations, they would be willing to consider lowering the target range for the policy rate at the next meeting.

Although there are differences within the Federal Reserve, the signal that "most participants assess that a rate cut may be appropriate this year" undoubtedly strengthens the market's expectations for future liquidity easing, which is a positive macro catalyst for risk assets such as Bitcoin.

2. The Trump tariff war no longer impacts the market, U.S. stocks and cryptocurrencies recover and reach new highs

On July 7 local time, Trump signed an executive order to extend the so-called "reciprocal tariff" deferment period, delaying the implementation date from July 9 to August 1. Starting from the early hours of the 8th Beijing time, Trump has consecutively announced tariff letters sent to multiple countries, with a total of 22 countries receiving tariff letters from Trump. The market is no longer concerned about the trade war; after the April trade war, the US stock market has fully recovered and set new highs.

Although tariffs have impacted the cryptocurrency market, the recent market performance has been stable, reflecting the characteristic of cryptocurrencies being highly volatile and responsive during periods of global uncertainty. Cryptocurrencies are increasingly seen as a valuable hedging tool, unaffected by any government or policy decisions. Therefore, investors may lean more towards Bitcoin as a hedging asset, thereby stimulating the pump of Bitcoin.

3. SEC Issues Statement on Tokenization of Securities, Cryptocurrency Enters Mainstream Financial System

The U.S. Securities and Exchange Commission (SEC) issued a statement regarding the tokenization of securities, indicating that blockchain technology has opened new models for issuing and trading securities in a "tokenized" form. Tokenization has the potential to facilitate capital formation and enhance investors' ability to use their assets as collateral. However, tokenized securities are still securities. Therefore, market participants must carefully consider and comply with the relevant provisions of federal securities laws when trading such instruments.

Recently, Robinhood launched tokenized stock trading for the first time. Robinhood's system is based on the Ethereum Layer 2 (L2) network Arbitrum. SEC Chairman Paul Atkins referred to tokenization as a significant "innovation" and added that the U.S. SEC "should focus on how to advance tokenization in the market," and that the days of regulation through enforcement "are over."

The rise of tokenized securities has propelled the blockchain and cryptocurrency industry into the mainstream financial market, stimulating the continued pump of Bitcoin and other cryptocurrencies.

4. The Trump tax expenditure bill is introduced, and fiscal risks generate demand for cryptocurrencies

On July 4, local time, U.S. President Trump signed the "Great Beauty" tax expenditure bill into effect. The bill has been controversial due to its reduction of federal aid, increase in long-term debt, and tax cuts for the wealthy and large corporations. If implemented under current terms, the bill will increase the federal deficit by approximately $3 trillion over the next 10 years; if certain expiration clauses are extended, the deficit could reach as high as $5 trillion.

After the bill takes effect, its revenue and expenditure mix will lead U.S. Treasury bonds down an unsustainable path. Although the U.S. government will not default in the short term, the unsustainable debt trajectory will increase the long-term risk of macro mismanagement, thereby raising investors' interest in non-sovereign value storage methods such as gold and Bitcoin.

5. The emergence of crypto reserve companies and the demand for ETFs are reshaping the Bitcoin landscape

The corporate Bitcoin investment pioneer Strategy (formerly MicroStrategy) has significantly increased its holdings of Bitcoin, with a market value far exceeding the value of Bitcoin on its balance sheet, indicating an excess demand in the market for gaining Bitcoin exposure through equity instruments. More companies are beginning to adopt this strategy, and some enterprises have expanded it to other digital assets beyond Bitcoin.

Apart from Bitcoin, SharpLink Gaming announced that it will transform into an Ethereum treasury company with the support of investors in the crypto field, such as Consensys. Other entrepreneurs further expanded this model, creating crypto reserve companies targeting Solana (SOL), Ripple (XRP), and even the Trump-themed meme coin TRUMP. The surge in crypto treasury companies indicates that investors have a strong interest in exposure to crypto assets traded on exchanges.

In addition, the demand for traditional financial instruments such as ETFs is reshaping the Bitcoin market landscape. Unlike in the past, which primarily relied on retail investors, the current round of price increases is characterized by structural inflows of institutional funds. Data shows that institutional investors are continuously buying Bitcoin through various financial instruments, and this demand pattern is more stable than the speculative buying seen historically.

Bitcoin Technical Analysis

Economies indicate that Bitcoin price surged strongly in the last trading session, successfully breaking through the psychological and key resistance level of 110,000 USD, showing a strong bullish momentum in the market. This move is supported by its stable support above the EMA 50, with the main bullish trend remaining stable in the short term, and trading occurring along the bullish bias line.

Before this pump, the market had attempted to successfully unload the clearly overbought Relative Strength Index (RSI), paving the way for a bullish trend. If positive signals continue to support the future trend, the market will gain more upward momentum.

(Source: Economies)

Expert Outlook: What is the Future Trend of Bitcoin and Altcoins?

1. Adam Guren, Chief Investment Officer at Hunting Hill, pointed out that Bitcoin's breakthrough of $112,000 reflects a compound effect of ETF capital inflows, rising institutional adoption, and a favorable macro environment: "Unlike previous cycles, the current demand is structural, regulated, and sticky."

2. Chief Investment Officer of the cryptocurrency trading company, Vincent Liu, stated that traders should remain vigilant regarding potential profit-taking or macroeconomic changes, as these factors may trigger a pullback, but the current trend remains strongly bullish.

3. CryptoQuant analyst Axel Adler Jr. stated that the Bitcoin 30-day Unrealized P/L Ratio is at the 80% percentile level. This indicator shows that the ratio of coins in profit to those in loss is significantly higher than usual, indicating that most Bitcoin holders are in a profitable state. Since this indicator has not yet reached the extreme range of 90-100%, it suggests that there is still room for the Bitcoin price to rise further before holders start actively selling.

4. Matt Mena, a cryptocurrency research strategist at 21Shares, stated that as the M2 money supply begins to rise again, historical data shows that some liquidity will flow into Bitcoin and other digital assets. Historically, the price of Bitcoin has tracked the M2 money supply, which is the Federal Reserve's estimate of liquid assets, including cash, deposits in checking accounts, savings accounts, and other short-term savings vehicles like money market funds. Cryptocurrency influencer Anthony Pompliano mentioned that if Bitcoin continues to follow the growth of the money supply, we might see the price of each Bitcoin reach $150,000 by the end of the year.

5. CoinDesk analyst Omkar Godbole's Technical Analysis indicates that a potential bullish trend is forming on-chain, with more and more traders believing that Ethereum (ETH) is likely to reach $3,000 in the near future. Furthermore, the Ethereum validator architecture is undergoing transformation, which could solidify ETH's status as Wall Street's most popular programmable asset.

6. ARK Invest CEO Cathie Wood stated that the price of BTC will grow 15 times in the next five years. "BTC represents a unique global currency system, and as more and more investors hold it, its volatility is decreasing."

7. Milk Road co-founder Kyle Reidhead stated in a post on X on Wednesday, "$150,000 is coming," citing a post from the end of June that showcased a "bullish cup and handle" pattern, suggesting this would drive the price of Bitcoin to $150,000. This optimism comes after Bitcoin's tight consolidation over the past two weeks, with many analysts concerned that Bitcoin may not have the strength to break through May's historical high.