Ray Dalio Backs Bitcoin as “Alternative Money” While Price Rockets Past $120K
- Bitcoin surged past $120K, with traders cashing out over $3.7B in profits while optimism for higher targets remains.
- ETFs attracted $675M in inflows, led by BlackRock and Fidelity, signaling stronger mainstream and retail demand.
- JPMorgan projects Bitcoin could hit $165K soon, while some bold forecasts stretch as high as $200K—or even $1M long-term.
Bitcoin just smashed through the $120,000 mark and the buzz is everywhere. Traders are locking in heavy profits too, with more than $3.7 billion already taken off the table. Despite that, the bullish outlook hasn’t really cooled down. JPMorgan’s analysts are tossing around a new number—$165,000—as a possible next stop, adjusting their models by comparing Bitcoin’s volatility against gold.
It’s not just big banks eyeing this run. Billionaire investor Ray Dalio even called Bitcoin an “alternative money,” something that feels almost surreal considering how traditional finance looked at crypto just a few years ago. The growing acceptance is clear, and as price keeps surging, so does the conversation about where Bitcoin really fits in the global system.
ETFs Flooded With New Money
A big chunk of momentum seems to be coming from exchange-traded funds. Bitcoin ETFs just had one of their busiest weeks, pulling in about $675 million. BlackRock’s IBIT fund led the charge with $405 million in inflows, while Fidelity’s FBTC grabbed nearly $180 million. All of this suggests growing conviction, not just from die-hard retail traders but from investors who usually prefer the safer, regulated path.
Retail though—they’re still a major piece of the puzzle. Everyday buyers have been fueling much of Bitcoin’s rally, while institutions seem more comfortable dabbling in futures than touching the ETFs directly. This mixed interest is adding layers to Bitcoin’s growth story, making the market feel less one-sided and more like a tug of war between fast profit-takers and long-term believers.
Analysts Point to Bigger Numbers
The forecasts flying around are almost dizzying. JPMorgan’s math says $165K is within reach, and some analysts stretch that band wider, seeing anywhere from $160K to $200K by year’s end. The logic: global demand keeps growing, inflation hedges look shaky, and Bitcoin is slowly cementing itself as a mainstream asset. Even with its volatility, it’s becoming harder for critics to ignore.
And then there’s Eric Trump, who jumped in with the boldest take yet—predicting Bitcoin could one day hit a million dollars. Sure, that’s way out there and sounds more like headline bait than anything else, but it shows just how extreme the optimism can get when crypto is on a tear.
Profit-Taking, But Momentum Holds
Of course, when price climbs this high, cashing out is part of the game. Over $3.7 billion in realized gains means plenty of holders saw a chance they couldn’t resist. But even with profit-taking, the sentiment leans bullish. Analysts argue that demand hasn’t slowed down—it’s only shifting. Short-term traders are selling into strength, while long-term investors keep adding.
The bigger picture? Bitcoin’s rally is no longer just about speculation. It’s becoming about legitimacy, global demand, and the kind of institutional involvement that many said would never happen. Whether it’s $165K, $200K, or some outrageous number in the future, one thing is clear: Bitcoin has moved far past being a fringe asset, and it’s not giving up the spotlight anytime soon.
The post Ray Dalio Backs Bitcoin as “Alternative Money” While Price Rockets Past $120K first appeared on BlockNews.
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Ray Dalio Backs Bitcoin as “Alternative Money” While Price Rockets Past $120K
- Bitcoin surged past $120K, with traders cashing out over $3.7B in profits while optimism for higher targets remains.
- ETFs attracted $675M in inflows, led by BlackRock and Fidelity, signaling stronger mainstream and retail demand.
- JPMorgan projects Bitcoin could hit $165K soon, while some bold forecasts stretch as high as $200K—or even $1M long-term.
Bitcoin just smashed through the $120,000 mark and the buzz is everywhere. Traders are locking in heavy profits too, with more than $3.7 billion already taken off the table. Despite that, the bullish outlook hasn’t really cooled down. JPMorgan’s analysts are tossing around a new number—$165,000—as a possible next stop, adjusting their models by comparing Bitcoin’s volatility against gold.
It’s not just big banks eyeing this run. Billionaire investor Ray Dalio even called Bitcoin an “alternative money,” something that feels almost surreal considering how traditional finance looked at crypto just a few years ago. The growing acceptance is clear, and as price keeps surging, so does the conversation about where Bitcoin really fits in the global system.
ETFs Flooded With New Money
A big chunk of momentum seems to be coming from exchange-traded funds. Bitcoin ETFs just had one of their busiest weeks, pulling in about $675 million. BlackRock’s IBIT fund led the charge with $405 million in inflows, while Fidelity’s FBTC grabbed nearly $180 million. All of this suggests growing conviction, not just from die-hard retail traders but from investors who usually prefer the safer, regulated path.
Retail though—they’re still a major piece of the puzzle. Everyday buyers have been fueling much of Bitcoin’s rally, while institutions seem more comfortable dabbling in futures than touching the ETFs directly. This mixed interest is adding layers to Bitcoin’s growth story, making the market feel less one-sided and more like a tug of war between fast profit-takers and long-term believers.
Analysts Point to Bigger Numbers
The forecasts flying around are almost dizzying. JPMorgan’s math says $165K is within reach, and some analysts stretch that band wider, seeing anywhere from $160K to $200K by year’s end. The logic: global demand keeps growing, inflation hedges look shaky, and Bitcoin is slowly cementing itself as a mainstream asset. Even with its volatility, it’s becoming harder for critics to ignore.
And then there’s Eric Trump, who jumped in with the boldest take yet—predicting Bitcoin could one day hit a million dollars. Sure, that’s way out there and sounds more like headline bait than anything else, but it shows just how extreme the optimism can get when crypto is on a tear.
Profit-Taking, But Momentum Holds
Of course, when price climbs this high, cashing out is part of the game. Over $3.7 billion in realized gains means plenty of holders saw a chance they couldn’t resist. But even with profit-taking, the sentiment leans bullish. Analysts argue that demand hasn’t slowed down—it’s only shifting. Short-term traders are selling into strength, while long-term investors keep adding.
The bigger picture? Bitcoin’s rally is no longer just about speculation. It’s becoming about legitimacy, global demand, and the kind of institutional involvement that many said would never happen. Whether it’s $165K, $200K, or some outrageous number in the future, one thing is clear: Bitcoin has moved far past being a fringe asset, and it’s not giving up the spotlight anytime soon.
The post Ray Dalio Backs Bitcoin as “Alternative Money” While Price Rockets Past $120K first appeared on BlockNews.
Читать больше