Bitcoin has once again risen to the spotlight and is putting traders to the test. The price has repeatedly approached $120K in recent weeks. However, things are starting to look a little stagnant. Every higher break attempt has attracted new interest from traders, but caution is showing more frequently in the market. Global liquidity conditions are having a greater effect than many anticipated, and this has created divisions in the market. An aggressive move out of here can be a precursor to the next large rally or the beginning of the next pullback. Amidst this, MAGACOIN is silently gaining its own wave in trading circles. MAGACOIN is being mentioned increasingly on the trader chat and watchlists. Early purchasers appear to be keen on reserving slots when the project is still at its initial phases. Investors may use code EXTRA50X to claim a 50% EXTRA BONUS. Global Liquidity Change Signals Market Strain According to market analysts, fluctuations in world liquidity tend to play a critical part in the price movements of Bitcoin. Risk assets like Bitcoin tend to attract capital inflow when central banks flood the market with new money. The rise in Bitcoin in earlier cycles occurred during times of liquidity expansion. Bitcoin Tests $120K With Mixed Signals Crypto market analyst Crypto Patel notes that Bitcoin is now trading at less than its ATH at $119.6K. The daily chart has seen several reversals of rejections at this point, which makes it a notable resistance region. Patel thinks that a daily close above $120K could provide a path to $150K. Nevertheless, he cautions that a third rejection could drive the price to the demand zone of around $111K. He states that the value that will determine the short-term and macro direction of Bitcoin is $120K. Bitcoin is currently trading at $119,660 with a 24-hour trading volume of over $48.5 billion. The change is a 0.81% increase in the last 24 hours and a 5.34% increase in the last 7 days. The market mood is still split. There are those traders who think that greater liquidity will be required to see a breakout, and some who feel the move will occur despite the lack of liquidity due to buying pressure at these levels. Conclusion The historical trends indicate that Bitcoin might rally to $150K earlier than anticipated if global liquidity turns positive. Currently, the $120K price point is one to watch. A breach above $120k will allow BTC to hit the $150k target. Meanwhile, MAGACOIN is continuously staking its claim as one to watch in an evolving market landscape. To learn more about MAGACOIN FINANCE, visit: Website: https://magacoinfinance.com Access: https://magacoinfinance.com/access Twitter/X: https://x.com/magacoinfinance Telegram: https://t.me/magacoinfinance Continue Reading: Bitcoin RSI Turns Bullish — Could $150K Target Come Before Year-End?
