In this crypto news segment, Steven McClurg, the CEO of Canary Capital, believes that Bitcoin could reach $120,000 by Christmas due to high demand for Bitcoin and Bitcoin ETFs. However, the current price of Bitcoin is struggling to reach and hold $100,000. McClurg remains optimistic about a potential rally and even if $120,000 is not reached by Christmas, he believes it will happen before the new year. McClurg's price target is similar to Ledn's John Glover's price target. Some analysts are concerned that late January could mark a turning point for Bitcoin, but McClurg believes the market peak will last from June to October. He also mentions that Bitcoin will start following the broader macroeconomic cycle more closely than the typical four-year cycle. There are upcoming macro events such as the November CPI and the Federal Reserve meeting which could impact Bitcoin positively or negatively. The market is expected to continue fluctuating between the upper $90,000s and $100,000, but there is still a possibility of a $120,000 run in the near future.



Other News from Today