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Market commentator Miya has outlined an interesting theory on why the Bitcoin priceis poised to hit $110,000 by the end of the year. The expert alluded to current macro conditions and how it is bound to favor the flagship crypto at the end of the day. Why The Bitcoin Price Will Hit $110,000
In an analysistitled ‘The Big Short against Retail,’ Miya predicted the Bitcoin price to reach $110,000 by the end of the year. At the same time, the expert expects the S&P 500 to drop to 4,700. She opined that the stock marketis heading towards a bad summer, which is why she expects a lower low on the SPX but a “pristine” Bitcoin. Related Reading Bitcoin Raging Bull Indicator Turns Back On, But This Level Holds The Key 1 week ago
Basically, Miya expects the Bitcoin price to benefit from any potential downtrend in the stock market, with investors viewing it as a flight to safety. She remarked that the market is heading towards a terrible macro situation, which could cause stocks to crash. These predictions came as the expert commented on the nine consecutive green days that stocks have enjoyed and why she believes it won’t last long. Source: Miya on X
The market commentator noted that Donald Trumphas made three main promises to the market: lower rates, tariffs, and taxes. These promises are expected to be kept, and she claims that the market is pricing them in as a sure thing. Traders are currently betting on a rate cut in June, while the US and China are set to meet to agree on a lower tariff. Lower taxes could come following a successful tariff policy.
Thanks to this, the stock market has been on a nine-day-long uptrend, while retail traders have made profits by buying the dip. However, Miya has warned that the market isn’t as strong as it looks and could soon blow up, with the Bitcoin price benefiting when this projected crash happens. Why The Stock Market Is Bound To Crash
The expert noted that this false idea of up-only gives retail investorsthe illusion of complacency, as they do right now with their $57 billion bid on top of retail accumulated shares. However, she remarked that eventually, this will unfold with the “containership recession trade” hitting the US in five days. BTC is expected to be a hedge against this macro situation, which would lead to a Bitcoin price surge. Related Reading ‘The Big Short’ Coming For Bitcoin? Why BTC Will Clear $110,000 9 hours ago
Miya explained that all the ‘ Magnificent 7’ earnings in the last season have been massively skewed and were “useless information,” meaning they cannot be relied on to show a strong market. She added that TMT firms that manufacture physical hardware usually manufacture in waves, so the actual impacts will show up in their H2 capex over Q1 results, meaning the impact of tariffs hasn’t exactly started kicking in.
At the time of writing, the Bitcoin price is trading at around $96,500, up over 2% in the last 24 hours, according to datafrom CoinMarketCap. DOGE trading at $97,024 on the 1D chart | Source: DOGEUSDT on Tradingview.com Featured image from Pixabay, chart from Tradingview.com