CryptoQuant: BTC could hit $112K if Fed turns dovish

CryptoQuant has projected that Bitcoin could surge to $112,000 within one to three months if the U.S. Federal Reserve adopts a dovish monetary policy and key resistance levels are breached. According to The Block, these key resistance levels are at $99,000 and $102,000. Julio Moreno of CryptoQuant stated that a potential Bitcoin rally hinges not only on interest rate cuts but also on how quickly the Fed signals its intentions for rate cuts next year and its outlook on inflation.