BTC could reach $107K on technicals, easing sell-offs, and liquidity, analysis suggests

Bitcoin could reclaim the $100,000 level and potentially rise to $107,000, driven by three key factors, according to a Cointelegraph analysis. The outlet noted that BTC has completed a technical breakout, surpassing the $95,000 upper boundary of an ascending triangle pattern and now holding it as support, with a golden cross of the 20-day and 50-day moving averages also imminent. Secondly, selling pressure from long-term holders is easing, as outflows from investors holding BTC for over five years have dropped to less than half of their cycle peak. Finally, the analysis suggests that an environment of expanding global liquidity and the end of the Federal Reserve's quantitative tightening could lead Bitcoin to outperform gold.