A weakening U.S. dollar and growing cryptocurrency optimism are driving bullish sentiment for Bitcoin in the near term. 📈
Recent declines in leveraged crypto trading activity suggest an upcoming rally beyond $111,900. 💪 This shift is further fueled by geopolitical tensions between the United States and Europe, which has impacted the dollar’s performance against major currencies.
Bitcoin (BTC) is gaining traction as a hedge against economic uncertainty, particularly as three states – New Hampshire, Arizona, and Texas – have approved Bitcoin reserve bills since the beginning of 2025.
CoinShares data shows that Bitcoin investment products saw $2.3 billion in net inflows within the past six days. These trends are aligning with bullish sentiment among market participants, including those involved in CME futures and options markets. 📈
Bitcoin price is poised to enter the euphoric phase of the 2025 crypto bull run based on current market structure.
Short-Term Bitcoin Price Outlook
In the one-hour timeframe, a parallel channel pattern has emerged in BTC price since it hit a local low around $74.8k in April. This week, BTC faced rejection at the upper border of this channel and now hints at a potential downward trend towards the lower border.
The 1-Hour MACD line has dipped below zero, while histograms have been trending bearish over the past two days. 📉
In contrast, the daily timeframe shows a similar pattern to the bullish breakout observed in Q4 of 2024 if BTC price stays above the upper border of the rising channel in the coming days. This could push it towards $140k.
However, consistent close below the lower border of this channel will likely reignite bearish pressure, potentially bringing us back to around $74k.