Bitcoin has crossed the significant threshold of $120,000, reporting a year-to-date gain of 28%. The surge follows President Trump’s announcement of a 30% tariff on goods imported from the EU and Mexico, which is scheduled to begin on August 1. This price rise arrives just before anticipated releases of U.S. inflation data, which is expected to show a further increase in living costs.

“BTC’s rally remains strong, and prices could reach $136,000 by year-end,” stated John Glover, CEO of Ledn. He emphasized that the recent breakout to new highs signals a healthy market condition, suggesting that the movement from around $96,000 in late June was a necessary adjustment before further growth.

Key Details:

• Bitcoin has recently surpassed $120,000, marking a significant milestone in its market performance.
• The upcoming U.S. inflation data alludes to potential market fluctuations, drawing attention from investors.
• Analysts suggest corporate acceptance and a favorable regulatory framework might bolster Bitcoin’s future growth.

“We have finally broken to new highs, which confirms that the dip to $96k in late June satisfied the wave (ii) pullback within the larger Wave 5,” said Glover in a recent communication.