Bitcoin Could Reach $150K If Liquidity Remains Stable
Bitcoin shows potential for a surge, but trader Josh Olszewicz warns it is dependent on liquidity. He highlights that while risk assets are rising without rate cuts from the Federal Reserve, global liquidity metrics have begun to improve.
Key Points
- Olszewicz emphasizes a fragile macroeconomic situation; liquidity is critical.
- US and global liquidity indicators are trending upwards, aided by reverse repo operations and the Treasury General Account (TGA).
- The current economic environment differs from previous tightening cycles in 2018 and 2022.
- He identifies $97,980 as a critical downside level for Bitcoin and sees potential upside to $150,000.
- A rise in liquidity benefits both Bitcoin and altcoins but is not guaranteed.
- August may be pivotal due to a looming US debt ceiling issue.
- Stability in inflation metrics is crucial for the Fed's decisions moving forward.
- As of now, BTC is trading at $105,325.
