Bitcoin News Today: Bitcoin Halving 32% Complete, Record Liquidity Fuel $150K Price Target

Bitcoin’s price trajectory has intensified scrutiny as a convergence of technical, macroeconomic, and on-chain factors align to bolster bullish sentiment. Analysts and market participants highlight three primary drivers: the 32% completion of the upcoming halving event, a critical retest zone on price charts, and record global liquidity levels. These elements collectively suggest a potential push toward $150,000, marking a pivotal milestone for the cryptocurrency market [1].

The ongoing halving event, which reduces miner block rewards every 210,000 blocks, is 32% complete. With 142,749 blocks remaining until the next reduction at block 1,050,000, market participants are monitoring whether the historical correlation between halvings and price surges will manifest. This 142,749-block countdown, equating to approximately 991 days, reinforces psychological support for long-term holders, who view the event as a roadmap to potential record highs [1].

Simultaneously, Bitcoin approaches a key retest zone between $110,000 and $117,000. Technical analyst thescalpingpro identifies a long-term rising wedge pattern spanning Bitcoin’s 2017–2021 all-time highs, projecting a potential $300,000 target if the $117,000 level holds. Meanwhile, analyst CryptoPatel outlines a Fibonacci-based scenario: a rally from $110,500 to $123,293 followed by a pullback suggests the $110,000 level acts as a critical support. A successful bounce here could propel Bitcoin toward $150,000, though a breakdown below this threshold risks a sharp correction under $100,000 [1].

Global liquidity conditions further amplify bullish momentum. Crypto Rover notes the M2 money supply has reached an all-time high of $95.31 trillion, reflecting sustained accommodative monetary policies. This liquidity surge has historically driven capital into risk-on assets like Bitcoin, supporting upward pressure in crypto markets. At $118,079, Bitcoin has risen 1.41% in the past 24 hours, with its $2.34 trillion market cap underscoring broad investor confidence [1].

While Bitcoin’s trajectory remains central, analysts caution against overreliance on these factors. Market volatility, regulatory shifts, and central bank policy adjustments could disrupt the current trajectory. However, the alignment of on-chain scarcity from the halving, bullish chart patterns, and expansive liquidity creates a compelling case for further upside. Retail and institutional investors are adopting mixed strategies, with some positioning for a long-term bullish case and others maintaining caution amid Bitcoin’s historical price swings [1].

Source: [1] [Bitcoin Eyes $150K as Halving Progress, Liquidity, and Chart Patterns Align] [https://coinedition.com/bitcoin-eyes-150k-as-halving-progress-liquidity-and-chart-patterns-align/]