Bitcoin Blasts Past $120K! See What Happens Next! 💰🚀

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What to know:

  • Bitcoin did a little jig and soared past $120,000, celebrating with a 28% gain for the year! 🎉
  • The price leap comes on the tail of President Trump’s delightful announcement of a 30% tariff on our European and Mexican pals. Because why not? 🙃
  • Keep your eyes peeled for the U.S. inflation data – it might just shake things up, or at least give us something to gossip about at the tea party. ☕

Once upon a time, in an era not so long ago, Bitcoin broke through the mystical barrier of $120,000 for the first time ever—imagine the fireworks! 🎆 Right now, it’s fluttering above $121,000 (that’s as of midday Hong Kong time, if you’re keeping score with CoinDesk’s magic crystal ball).

This jubilant surge follows President Trump gifting us with a 30% tariff on our friends across the pond and south of the border, starting August 1st. It’s a rather cheeky way to shake the market, don’t you think? 📈🔄

Now, let’s look ahead—U.S. inflation data is coming, and it’s rumored to show a bit of a nudge in the cost of living as it dances in time with Trump’s trade frolics. 🕺

According to the wise folks at FactSet, they predict the consumer price index (CPI) may have risen a sprightly 0.25% in June, leading to a delightful annualized growth of 2.6%. And the core CPI? They expect that to bounce up by 0.3% monthly, strutting out at a 3% annualized basis. How’s that for a grand performance? 🎭

Brace yourselves, because risk assets, including our beloved BTC, might get a little dizzy if inflation does its thing, putting a delay on the Fed’s fun rate cut. But don’t fret—there’s a good chance of strong momentum thanks to corporate gobbling up BTC, ETF inflows, and a rosy regulatory outlook in the wild world of the U.S. market. 🥳

Our oracle for today, John Glover, CEO of Ledn, claims that BTC’s rally has “legs”—yes, you heard me right, legs! He’s predicting prices could prance up to $136,000 by year-end. Talk about a leap! 🦵💨

“We’ve made it to new highs, confirming all the dips and flips along the way,” Glover chimes in (don’t you just love an optimistic financier?). He initially thought we’d reach for the stars in Q1 of 2026, but now it seems our dear BTC might just surprise us sooner than expected! 🌟

“While this doesn’t change our series of delightful targets, it does make the magic happen quicker,” he’s added, practically twinkling with excitement.

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2025-07-14 07:23