Bitcoin (BTC) Price Prediction: Benjamin Cowen Predicts a Major Rally to $120,000-$150,000

Bitcoin is holding strong above $84,500, fueled by positive economic news and investor interest.

Bitcoin (BTC) is holding strong above the $84,500 mark, showing resilience as market sentiment continues to shift.

The post Bitcoin Holds Strong Above $84.5K as U.S. Job Data Boosts Investor Interest in BTC appeared first on TokenPost.

Bitcoin Shows Resilience Amid Economic Shifts

Bitcoin is showing resilience as investor interest shifts. Strong U.S. job data and growing expectations of interest rate cuts are pushing traders to move away from traditional stocks and toward crypto. Even as big tech stocks struggle, Bitcoin continues to show strength.

Can BTC Break $84.9K? Bulls Target $87K Next

If the price manages to break above $84,900, analysts say the next key target could be around $87,000. So far, buyers are in control, and as long as that holds, the uptrend is expected to continue.

Popular crypto analyst Benjamin Cowen predicts that Bitcoin’s biggest move this cycle may still be in the cards. In a bullish scenario, he sees the price potentially hitting $120,000-$150,000 later this cycle.

Maintaining Crucial Support

One of the most important levels to watch is Bitcoin’s 2024 high near $72,000. According to Cowen, this is a crucial level on the weekly chart, and losing it would be significant.

“We’ll want to see this higher low hold. If we do start heading back down, ideally, we get some buying interest around this 2024 high, which is at about $72,000. If we break this lower low, then it will no longer be a higher low, and that will be a bit problematic. But if we hold this higher low, then we can continue lower.”

If Bitcoin does retest the $72,000 zone, it’s likely to encounter strong buying pressure.

Calm Market, But Bulls Still in the Lead

At the moment, Bitcoin is trading around $84,483, with little movement in the past 24 hours.

Cowen remains cautiously optimistic. He says that if a pullback happens, it will serve as a key test for the market’s strength.

“If we do pull back from here, it will be interesting to see where we find some buying interest. I think we’ll get some around this $72,000 zone if we do pull back to it.”

If BTC manages to continue holding above major levels and shows signs of resilience, it could set the stage for a stronger rally later this year.

Cowen’s outlook remains bullish in the long term, with a possible move into six-figure territory. But for that to happen, Bitcoin needs to keep its momentum and avoid any decisive breakdowns.

With key levels holding firm and sentiment shifting, Bitcoin’s next move could set the tone for the rest of the cycle.

Stay tuned for more updates!

The post Bitcoin Shows Resilience Amid U.S. Job Data and Growing Expectations of Interest Rate Cuts appeared first on TokenPost.