If Bitcoin Loses Its Key Support, Bitwise's Bullish Report Faces a Real Test

Bitwise has published a more aggressive long-term Bitcoin forecast. The asset manager's new capital market report argues that the past year strengthened the case for BTC as a global store of value. The timing is awkward for bulls. Bitcoin has cooled after its autumn run and now trades sideways with fading momentum. Traders face a simple question. Will buyers defend the long-term trend line, or will a break lower put the bullish outlook under short-term pressure? Crypto asset manager Bitwise raised its long-term Bitcoin forecast to $1.6 million by 2036. Its previous target stood at $1.3 million.

Source: Crypto Daily