Bitcoin Set to Hit $120K? 78% of Traders Say Yes
A new Polymarket poll reveals 78% of traders believe Bitcoin will reach $120K this July.
- 78% of Polymarket users are betting on Bitcoin hitting $120K.
- Trader sentiment shows strong bullish momentum.
- July could be a critical month for Bitcoin’s price action.
Traders Bet Big on Bitcoin’s July Surge
Bitcoin’s price may be heading for new heights this July. According to prediction platform Polymarket, 78% of traders believe the world’s leading cryptocurrency will reach or exceed $120,000 before the month ends. This strong bullish sentiment has captured attention across the crypto space.
Polymarket, a decentralized prediction market, allows users to stake money on real-world outcomes, and the overwhelming majority are betting on a massive Bitcoin surge. As of now, Bitcoin trades well below that target, making this an ambitious forecast—but one that many clearly believe in.
What’s Fueling the Optimism?
Several factors could be contributing to this market confidence. First, anticipation of lower interest rates in the U.S. could boost investor appetite for riskier assets like Bitcoin. Additionally, institutional adoption continues to rise, with major asset managers expanding their crypto exposure.
On-chain data also shows an increase in wallet activity and long-term holding, signaling that traders are preparing for a rally rather than a sell-off. Historical price action in previous bull runs suggests that rapid movements toward new all-time highs are not impossible, especially with momentum building fast.
A Critical Month for Bitcoin’s Future
If Bitcoin does reach $120K, it would mark a new all-time high and a major psychological milestone. However, July also comes with potential volatility, including macroeconomic announcements and potential regulatory developments.
Whether this prediction materializes or not, one thing is clear—confidence is back in the Bitcoin market. The next few weeks will be crucial in determining if that optimism turns into reality.
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