Crypto news

Bitcoin’s $130K Dream: Trade Deals, M2, and a Dash of Chaos!

BBG News

Bitcoin, that fickle lover of the digital realm, may be poised for a grand leap towards the celestial sum of $130,000, if one can trust the musings of a pseudonymous trader named Doctor Profit, who speaks in riddles and charts 🧠💰.

After months of wrestling with a long-term resistance that seemed as stubborn as a Russian matryoshka doll, the flagship cryptocurrency has finally breached a trendline dating back to the 2021 zenith, declaring, “I am free!” 🚀 Yet, the market, ever skeptical, has yet to fully embrace this liberation.

Bullish Breakout and Trade Deal Fuel Market Optimism

In a grand proclamation on X, Doctor Profit declared Bitcoin’s monthly breakout above its multi-year diagonal resistance—a feat that had previously thwarted bulls for four months, like a stubborn mule refusing to budge 🐴. July’s triumph, followed by a retest, signals the dawn of “the next leg up,” a journey that may culminate in the mythical $130,000, though one wonders if the market will ever catch up to the hype 🤔.

Adding to the frenzy is a recent trade deal between the US and EU, brokered by the enigmatic Donald Trump and Ursula von der Leyen, who seem to have conjured $750 billion in energy exports and $600 billion in infrastructure investments. One might say the world is now united in its pursuit of wealth, though the details remain as opaque as a Gogol novel 🤝.

“This is very bullish for the mid and long term as there is no longer fear due to a tariff war between countries, especially and most importantly between the US and Europe.”

The announcement sent Bitcoin soaring from $114,500 to over $119,000, while BNB reached a new height, as if it had finally found its wings 🦅.

Doctor Profit also notes the M2 money supply, that ever-expanding beast, which has grown by 2.3% year-to-date. Despite the Federal Reserve’s “quantitative tightening,” M2 continues to swell, a paradox as baffling as a Russian winter 🌡️. Historically, every 1% increase in M2 has corresponded to a 30% to 35% rise in BTC. If this holds, Bitcoin may yet reach $130,000—though one suspects the market will demand a few more twists and turns before it arrives 🧩.

Price Analysis and Broader Market Trends

At the time of this writing, BTC was trading at $119,389, a modest 0.9% gain in the last 24 hours, as if the market were sipping tea instead of making bold moves 🫖. Over the week, it gained 0.7%, and in 30 days, 11.3%, but its short-term antics lag behind Ethereum and altcoins, much like a turtle racing a hare 🐢.

Yet, the OG crypto’s fundamentals remain as steadfast as a Cossack’s resolve. ETF inflows, those tireless vacuum cleaners, continue to absorb more BTC than is mined, particularly from issuers like BlackRock, who seem to hoard coins like a dragon guarding its treasure 🐉. With the Federal Reserve’s next FOMC decision looming, where a rate hold is as certain as death and taxes, Doctor Profit believes the stage is set for liquidity to dance once more 💃.

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2025-07-28 21:31

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