BTC Surges Past $120K: Strength or Overextension?

Bitcoin has broken above $120,000, hitting a new all-time high and signaling a potentially strong uptrend. This surge is supported by increasing global money supply (M2), which is currently at $94.36 trillion with a three-month growth of 4.11%, suggesting more money is flowing into riskier assets like Bitcoin. However, there's a note of caution because inflation might be accelerating again due to tariffs, which could make central banks hesitant to continue expanding the money supply. One U.S. CPI release saw Core Goods adding 15bps to Headline inflation in June. PrimeXBT offers trading tools for those looking to capitalize on Bitcoin's movements or manage potential risks, including Crypto Futures trading. They are running a Trade as VIP campaign until August 31, offering new users up to almost 70% off taker fees on Crypto Futures.