Inside Edge Capital: Bitcoin will rise to $ 130,000

Analyst Todd Gordon, founder of Inside Edge Capital and CNBC commentator, predicts bitcoin BTC $104,952.97 Bitcoin -0.07% Market capitalization $2.09 trillion VOL. 24 hours $0.93 billion will rise above $ 130,000 based on technical and macroeconomic signals. After setting an all-time high of more than $ 111,000 in May and a short-term decline of 10%, he says the cryptocurrency is preparing for a new impulse. According to Inside Edge’s analysis, the market situation supports this development, and the company is already increasing its position in the iShares Bitcoin Trust (IBIT) ETF.

Among the main growth factors, Gordon identifies high institutional demand, positive macroeconomic trends, and an improving regulatory environment. He draws special attention to the record-breaking dynamics of the IBIT ETF — $ 70 billion in assets in 341 days, which significantly exceeds the previous record of the SPDR gold fund. The number of companies considering bitcoin as a reserve asset is also growing.

Amid the expected US Federal Reserve rate cuts and stable government bond yields, bitcoin looks like an attractive asset to hedge against inflationary risks. Additional pressure on the dollar due to fears of a recession creates favorable conditions for the growth of the crypto market. This is compounded by the expected adoption of a stablecoin law in the United States, which may help increase confidence in digital assets.

From a technical point of view, Inside Edge Capital notes a decrease in volatility to levels typical of consolidation periods before new impulses. On the daily chart, bitcoin is testing triple resistance around $ 110,000, which could be the starting point for further growth to the $ 135,000 target, a level that corresponds to 100% of the Fibonacci projection.

At the time of analysis, the price of bitcoin was at $ 109,531. Gordon has already announced his intention to increase his position in IBIT to more than 5% of his portfolio. Other analysts, including Arthur Hayes of BitMEX, are even more ambitious: up to $ 250,000 by the end of 2025 and $ 1 million by 2028.