Bitcoin Smashes Records as Institutional FOMO Kicks In

BTC rockets past previous ATHs—because Wall Street finally realized it’s not 2017 anymore.

Strategic catalysts? Try hedge funds panic-buying before their clients ask why they’re missing the train.

Bonus cynicism: Meanwhile, traditional finance still thinks ’blockchain, not Bitcoin’ is a viable strategy.

Bitcoin Price Target and Timeline

Alex revealed his target for Bitcoin$111,838 a few hours ago, aiming for $120,000 by June. He cites FTX creditors’ repayments as one of the primary catalysts, a topic we’ve been discussing for some time. Notably, these creditors were crypto natives throughout 2022’s tough times, indicating that a substantial portion of the billion-dollar reimbursements might flow back into crypto.

“A target of $120,000 is anticipated by June. The $5 billion FTX disbursement on May 30 is a significant catalyst, particularly benefiting major stakeholders. The 90-day tariff pause could become a major downtrend catalyst by July 9, as fears about tariffs might resurface in market sentiments two to three weeks prior.”

A movement within this range is expected between several days from May 30 and two to three weeks before July 9.

Cryptocurrency Commentary

The current rise coincided with bond market fluctuations. Kyle indicated that investors might utilize BTC as a hedge due to this synchronization.

“BTC remains in sync with US Treasury bond spreads. This emerging trend highlights investor concerns over long-term debts and amplifies Bitcoin’s role as a hedge.”

Altcoin investors are closely watching the ETH chart. We cannot declare an overall altcoin uptrend until a genuine rise in the ETHBTC pair occurs. Crypto Bullet expressed an hour ago that:

“ETHBTC rebounded from the main support, forming a bullish engulfing candle on HTF. Upon a monthly close in this manner, further upward movement is likely imminent. The next significant level to breach is 0.026.”