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Key Factors Boosting Bitcoin's Push Towards $110,000
1 Favourable Information: The White House announced a $5 billion allocation to increase its holdings of Bitcoin and other crypto assets, strengthening its position as a strategic reserve asset, directly boosting market sentiment and institutional capital inflow.
2 Macroeconomic Environment: The U.S. credit rating was downgraded to AA1 by Moody's, fiscal deficits are widening, and inflation expectations are rising (with an expected annual inflation of 3.0-3.5%), undermining confidence in the dollar and prompting funds to flow into Bitcoin as a safe-haven asset.
3 Technical Breakthrough: After Bitcoin broke through the psychological barrier of $100,000, the next resistance level is near the historical high of $110,000.
4 Market Predictions: According to Polymarket data, the market predicts a 52% probability that Bitcoin will reach $110,000 this month, up from just 37% on May 17.
These factors combined make it possible for Bitcoin to challenge $110,000.