Bitcoin Eyes New All-Time Highs After Closing Key Futures Gap
Bitcoin has successfully closed a significant CME futures gap, a technical signal that analysts believe could propel BTC towards new all-time highs (ATHs) within weeks.
Investor Ted Pillows noted that reclaiming the $117,320 level is crucial. Meanwhile, Keith Alan of Material Indicators states that "$124,500 was not the top" due to strong institutional demand, evidenced by over $2.3 billion in net inflows into US spot Bitcoin ETFs in five days. Anticipated Federal Reserve interest rate cuts are also expected to boost market liquidity.
Trader BitBull suggests ATHs could be reached in as little as two weeks, citing BTC/USD reclaiming an 8-year trendline.