Bitcoin (BTC) may reach a new all-time high of $110,000 before any significant retracement, according to some market analysts

Bitcoin (BTC) may reach a new all-time high of $110,000 before any significant retracement, according to some market analysts who cite easing inflation and increasing global liquidity as key factors supporting a price rally.

Some market analysts believe that Bitcoin (BTC) may reach a new all-time high of $110,000 before any significant retracement.

According to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom, the key factor supporting such a rally is the US Federal Reserve pivoting to quantitative easing (QE) for treasuries from quantitative tightening (QT).

However, despite recent speculation that QT is "basically over" on April 1, several analysts pointed out that the Fed has only slowed QT and is still planning to shrink its balance sheet.

Ben Counton, founder and CEO of IntoTheCryptoVerse, stated that QT is still in place and will continue until the Fed completes its goal of selling $35 billion per month from its mortgage-backed securities portfolio.

“QT is not ‘basically over’ on April 1st. They still have $35B/mo coming off from mortgage-backed securities. They just slowed QT from $60B/mo to $40B/mo,” Counton explained.

According to a March 24 X post by Hayes, who is also the author of the upcoming book "The Rising. The Fall. The Final Chapter," his last bet is that Bitcoin will hit $110,000 before it retests $76,500.

"I bet $BTC hits $110k before it retests $76.5k. Y? The Fed is going from QT to QE for treasuries. And tariffs don’t matter cause of 'transitory inflation.' JAYPOW told me so."

Source: Arthur Hayes

“What I mean is that the price is more likely to hit $110k than $76.5k next. If we hit $110k, then it’s yachtzee time and we ain’t looking back until $250k,” Hayes added in a follow-up X post.

Quantitative tightening (QT) is when the US Federal Reserve shrinks its balance sheet by selling bonds or letting them mature without reinvesting proceeds, while quantitative easing (QE) means that the Fed is buying bonds and pumping money into the economy to lower interest rates and encourage spending during difficult financial conditions.

Another analyst pointed out that while the Fed has slowed QT, it has not yet fully pivoted to easing.

Meanwhile, crypto traders and analysts are eagerly awaiting the Fed's pivot to quantitative easing, which has historically been a bullish factor for Bitcoin's price.

The last period of QE in 2020 coincided with a more than 1,000% surge in Bitcoin's price, as it rallied from around $6,000 in March 2020 to a then-record high of $69,000 in November 2021.

After a strong rally from $25,000 in December 2022 to a new all-time high of $69,000 in November 2021, Bitcoin's price faced significant resistance in 2022 due to macroeconomic headwinds and encountered a low point of $15,000 in November 2022.

However, Bitcoin's recovery to above $85,000 after last week's Federal Open Market Committee (FOMC) meeting is a bullish sign for investor sentiment that may signal more upside, according to Emmanuel Cardozo, market analyst at real-world asset (RWA) tokenization platform Brikken.

The macroeconomic environment also "supports" a Bitcoin rally to $110,000, the analyst told Cointelegraph.

"Global liquidity has risen, discussions around a US Bitcoin strategic reserve, potentially driving Bitcoin toward that $110,000 mark as BTC liquidity available in exchanges keeps dropping, leading to a supply squeeze scenario."

"But a correction to $76,500 aligns with Bitcoin's historical volatility, often triggered by profit-taking or unexpected market shifts," Cardozo added.

According to Ben Counton, founder and CEO of IntoTheCryptoVerse, the case for Bitcoin continuing higher is strong as it recently closed a weekly candle above the 21-week and 200-week moving averages.

This bullish momentum aligns with Arthur's view, and they are both looking for $88K to be taken out in order to pave the way for the next leg of the uptrend.

However, Counton pointed out that those bullish trends are already priced in and the next move will depend on whether buyers or sellers come out on top.

"I think a move to $76.5K would come if we get a strong close below the 21-week MA. And if we get another strong candle like last week's, then I think we can go as