Bitcoin and Ether Rally as Traders Eye New Highs Amid Market Uncertainty
Bitcoin recently reached new August highs near $119,000, with traders anticipating a potential move to $120,000 driven by a short squeeze that could liquidate over $18 billion with a 10% price increase. Market analysts highlight a CME gap at $116,500 as a possible support level and suggest that a break above $120,000 could trigger further bullish momentum, although some caution that weekend volatility might reverse once traditional markets reopen.
