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Bitcoin Price Forecast: Analyst Predicts 70% Chance of New Highs
The US Federal Reserve's recent interest rate cut has led to a resurgence in Bitcoin's price, following a brief consolidation below $115,000. Analysts forecast potential new all-time highs (ATH) soon.
Bullish Indicators Emerge
- Market expert Axel Adler notes BTC futures trading at a premium and a positive basis, indicating a bullish market.
- A 70% probability is suggested for a continued uptrend or sideways movement in the coming weeks.
- Short-Term Holder Market Value to Realized Value (MVRV) Z-scores near zero suggest market balance.
- Potential consolidation followed by a surge towards new highs is anticipated.

Bitcoin Price Boost Predicted Amidst Strong US Stock Market Performance
- The correlation between US stock rallies and Bitcoin price increases is noted.
- Historical data suggests Bitcoin could rise by 12% over 30 days and 36% over 90 days after an S&P 500 ATH.
- Following a Nasdaq ATH, Bitcoin gains average 16% in 30 days and 46% in 90 days.

Current trading levels are around $117,770. If historical trends repeat, Bitcoin could reach $131,000 and even $199,000 in the coming months.