Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Cryptocurrency analyst and trader Ali Martinez, known on the X social media platform as @ali_charts, believes that the world’s flagship cryptocurrency, Bitcoin, has odds of soaring much higher than the recent all-time high very soon.
The analyst has published an X post with a Bitcoin chart attached, showing how BTC can soar as high as $131,200.
"Bitcoin could march towards $131,200"
According to Martinez, Bitcoin could continue rising and reach $131,200 if it manages to maintain the important support level that has formed at $117,400.
This conclusion is based on a technical analysis trendline from the start of July. Besides, the 2.33% growth logged by Bitcoin today, on July 22, adds to the analyst's narrative. A day before, BTC traded at $116,620, while now it is changing hands slightly above the $119,300 level.
SpaceX transfers Bitcoin after three years of holding
Earlier today, the crypto community was intrigued by the news that Elon Musk’s spacecraft company, SpaceX, made its first Bitcoin transfer after three years of keeping its BTC inactive.
SpaceX transferred 1,308 BTC worth approximately $153 million, and the transaction targeted anonymous address "bc1q8k...phartf," according to Arkham Intelligence on-chain data aggregator.
The last Bitcoin transfer made by Musk’s SpaceX was noticed on June 10, 2022. Back then, the company sent 3,505 BTC (valued at around $102 million back then) to the largest U.S.-based cryptocurrency exchange, Coinbase. SpaceX now still holds 6,977 BTC, equal to roughly $815 million in total.
Vladislav Sopov
U.Today Editorial Team