NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Analyst Explains Why Price Could Hit $56,000 And Beyond

Alizeh Ilyas
Alizeh Ilyas
8 months ago
2 mins read
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin has the potential to hit $56,000 in the coming sessions, asserted independent market analyst Josh Rager.

The Blockroot.com founder said in a tweet published Tuesday that BTC/USD could keep on rallying higher based on two reasons. First, the recent approval of US President Joe Biden’s $1.9 trillion stimulus package in the Senate could assist the ongoing Bitcoin recovery rally in growing further. And second, the cryptocurrency’s positive correlation with the US stock market could act as a bullish tailwind.

“Some are saying this is the beginning of a larger correction,” said Mr. Rager. “Sure, [it] could be. But I want to see the price at least come up to retest $56,000 first. But with a $1.9T stimulus in the works and stocks opening up higher, it’s hard for me bearish on Bitcoin at the moment.”

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin looks to retest its record high above $58,000, as per Josh Rager. Source: BTCUSD on TradingView.com

A Bullish Recipe

The statements took cues from Bitcoin’s performance last year. Since March 2020, Bitcoin and all the indexes on Wall Street rallied almost in sync with one another as the Federal Reserve started its unlimited bond-buying program and slashed its benchmark lending rates to near-zero. Meanwhile, the US government introduced two stimulus bills worth a combined total of $3.1 trillion.

Traders and investors flocked to Bitcoin and similar riskier assets because of the lack of attractive US Treasurys returns. Meanwhile, massive capital injection reduced the US dollar’s purchasing power, with the US dollar index dropping by more than 12 percent, hurting savers and institutions with cash-based balance sheets.

Entering March 2021, the catalysts have not changed much. The Fed is buying $120 billion worth of government debt and mortgage-backed corporate securities every month. Its interest rates are still hovering near zero. Meanwhile, the $1.9 trillion aid’s approval expects to pressure the US dollar lower in the long-term.

Bitcoin surged above $54,000 on Tuesday for the first time in two weeks. The cryptocurrency’s upside move came in sync with the US stock market’s recovery rally. Investors pounced back on beaten-down tech stocks on buy-the-dip mentality, sending the Nasdaq Composite Index flying by 3.2 percent.

Meanwhile, the US benchmark S&P 500 rose 1.8 percent while the blue-chip Dow Jones flirted with record levels after adding 250 points to its index.

But…

…the recovery move comes with market risks. Of late, the pandemic winners, including bitcoin, faced severe downside pressure from the sell-off in government bonds. Investors flocked out the Treasury markets after anticipating a faster-than-expected economic recovery in the US. They moved capital into assets that lost their value the most during the pandemic.

Fears persisted that rising US bond yields would force the Fed to hike its interest rates. While the central bank chairman Jerome Powell clarified in a speech last week that it won’t pursue any hawkish policy, Bitcoin and the stock market traded higher cautiously.

“The fact that Bitcoin seems to keep up with the rise of interest rates is definitely a good sign,” said Nick, the author of the Ecoinometrics newsletter. “This means that adoption remains the main driver of this cycle.

“If you believe that to reach its natural market size (physical gold), Bitcoin has 10x more to grow; then you aren’t worried about the temporary rising yield situation,” he added.

Tweet123Share196ShareSend
Alizeh Ilyas
Alizeh Ilyas

Alizeh Ilyas

With over 3 years of crypto writing experience, Alizeh Ilyas have a deep understanding of cryptocurrencies, blockchain, Fintech, web3, crypto market analysis, predictions, and more. Her passion for innovation shines through her work. Keeping a keen eye on the future of digital finance, she bridges gaps between technology and readers.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin price

Bitcoin Price Could Soar To $146K In The Next Leg Up — Analyst Explains How

After going on an impressive run to close the week, the Bitcoin price has become relatively steady over this weekend....

Opeyemi Sule 4 hours ago
BTC All-Time High

Crypto expert: Bitcoin bereikt nieuwe ATH van $112k, betekent dit start van altcoin season?

Nu Bitcoin een nieuwe all-time high heeft gehaald, roert de crypto space zich weer flink. Op het moment van schrijven,...

Lars Diederiksen 8 hours ago
Bitcoin Long-Term Holders Remain Steady As CDD Normalizes After False Alarm

Bitcoin Long-Term Holders Remain Steady As CDD Normalizes After False Alarm

Bitcoin is testing uncharted territory after breaking past its previous all-time high of $112,000 last Thursday, igniting a powerful new...

Sebastian Villafuerte 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Solana

Solana (SOL) Set For Price Run To $2,700 — But This Condition Must Hold

Semilore Faleti 2 hours ago
Bitcoin

Who Flipped The Switch? Bitcoin STHs Accumulate While LTHs Take Profit

Opeyemi Sule 3 hours ago
XRP

XRP To Hit $4 This Week? This Crypto Expert Thinks So

Christian Encila 1 hour ago

Premium Sponsors

Press Releases

  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    21 hours ago
  • 仮想通貨 おすすめ|急騰するDogwifhatとFartcoin、注目の低価格ミームコインとは?

    仮想通貨...

    21 hours ago
  • 新しい仮想通貨価格動向|話題の最新コインの成長可能性

    ...

    21 hours ago
  • アルトコイン注目銘柄|2025年7月第2週に見るべき3銘柄

    ...

    21 hours ago
  • ロビンフッドが1ドルから始めるETHとSOLのステーキングを開始──今注目の仮想通貨投資はこれだ?

    ...

    22 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.