Did Trump just signal Bitcoin to $120,000 in coming weeks?
Bitcoin (BTC) bulls may have found an ally in President Donald Trump’s move to delay controversial trade tariffs. To this end, cryptocurrency analyst Ted Pillows has noted that Bitcoin’s recent price action is tracking a Wyckoff accumulation pattern, and Trump’s tariff delay could catalyze BTC to surge toward $120,000 in the coming weeks. In a July 7 X post, Pillows noted that Bitcoin’s BTC/M2 ratio is nearing the end of its accumulation phase. Notably, M2 is a broad measure of the money supply, and as it expands, liquidity increases, providing investors with more capital to deploy into assets like Bitcoin. Bitcoin price analysis chart. Source: Ted Pillows By comparing Bitcoin’s price to M2, analysts assess its value in relation to the available liquidity. A strong BTC/M2 ratio can indicate that Bitcoin is undervalued compared to the money circulating in the system. Pillows’ Analysis shows the BTC/M2 chart completing a Wyckoff accumulation phase, where institu...