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Bitcoin Price Prediction: Can BTC’s $118K Breakout Rally Hit $124K Next?

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Alvara Protocol is aiming to reshape asset administration via blockchain. Co-founder Dominic Ryder described his challenge’s new Ethereum-based customary, ERC-7621, because the “Basket Token Standard” (BTS). It permits actual property, commodities, and a number of ERC-20 tokens to be packaged into funding baskets, very like index funds.

Ryder envisions Alvara changing into the “Fidelity of tokenized property,” opening the door for enterprise capital corporations to create merchandise like distressed “worth baskets” or elite “all-star baskets.”

If broadly adopted, ERC-7621 may mirror the function ERC-721 performed for NFTs, making tokenization accessible at scale. Broader adoption of tokenized funds not directly strengthens Bitcoin’s place because the market’s most trusted digital asset, encouraging institutional involvement and increasing blockchain’s attain.

Metaplanet Climbs to Fourth-Largest BTC Holder

Institutional urge for food for Bitcoin can be accelerating. Japanese funding agency Metaplanet not too long ago added 5,268 BTC value roughly $600 million, bringing its complete holdings to 30,823 BTC. At right now’s worth of $118,353, the stash is valued at $3.6 billion, giving the agency an unrealized revenue of about 7.5% primarily based on its common price close to $108,000.

Metaplanet’s aggressive technique, launched in April 2024, has shortly made it the fourth-largest company holder of Bitcoin. Its rising presence provides additional strain to Bitcoin’s restricted provide, reinforcing the narrative of BTC as a treasury asset and supporting long-term worth appreciation.

U.S. Lawmakers Revisit Crypto Taxation Rules

In Washington, lawmakers are shifting tone on digital asset taxes. The U.S. Senate Finance Committee will maintain a listening to on crypto taxation following contemporary IRS steering easing the Corporate Alternative Minimum Tax (CAMT).

The rule change permits firms to exclude unrealized crypto features and losses from CAMT calculations, providing reduction to main holders like Michael Saylor’s Strategy, which owns greater than 640,000 BTC.

Policy specialists from Coinbase and Coin Center are anticipated to testify. The transfer may ease promoting strain on company treasuries and foster extra secure long-term confidence in Bitcoin.

Bitcoin Price Forecast: Breakout Targets $124K

Technically, Bitcoin has staged a decisive breakout, climbing above $118,000 and breaking via a descending trendline that capped rallies since mid-September.

A bullish engulfing candle on the 4-hour chart, mixed with heavy buying and selling quantity, underscores renewed purchaser conviction. Price has reclaimed each the 50-day SMA at $112,037 and the 100-day SMA at $113,395, now key assist ranges.

Bitcoin Price Chart – Source: Tradingview

The RSI sits above 80, suggesting robust demand but additionally short-term overbought situations. A retest of the $116,950 breakout zone might happen earlier than the subsequent leg increased.

If momentum holds, Bitcoin may take a look at $120,200, then $122,335, and finally $124,525 — resistance that capped rallies earlier this yr.

Traders eyeing entries might search for pullbacks towards $117,000–$117,500, with upside potential extending towards $128,000 within the weeks forward.

This breakout not solely highlights renewed technical energy but additionally dovetails with rising institutional demand and favorable regulatory shifts, setting the stage for a doubtlessly stronger Bitcoin rally into year-end.

Presale Bitcoin Hyper ($HYPER) Combines BTC Security With Solana Speed

Bitcoin Hyper ($HYPER) is positioning itself as the primary Bitcoin-native Layer 2 powered by the Solana Virtual Machine (SVM). Its purpose is to broaden the BTC ecosystem by enabling lightning-fast, low-cost good contracts, decentralized apps, and even meme coin creation.

By combining BTC’s unmatched safety with Solana’s high-performance framework, the challenge opens the door to thoroughly new use instances, together with seamless BTC bridging and scalable dApp growth.

The group has put robust emphasis on belief and scalability, with the challenge audited by Consult to offer buyers confidence in its foundations.

Momentum is constructing shortly. The presale has already crossed $19.4 million, leaving solely a restricted allocation nonetheless obtainable. At right now’s stage, HYPER tokens are priced at simply $0.013005—however that determine will enhance because the presale progresses.

You should purchase HYPER tokens on the official Bitcoin Hyper website utilizing crypto or a financial institution card.

Click Here to Participate in the Presale

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