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Analyst Kevin Svenson predicts Bitcoin is on the verge of a major parabolic rally, citing the S&P 500’s recent all-time high as a bullish signal. Svenson believes BTC could soon break past its current record and target $120,500, with further upside potential to $140,000–$150,000.
- Bitcoin's price action often mirrors the S&P 500's performance, with new all-time highs in the index boosting BTC's bullish momentum.
- Svenson's technical analysis points to a breakout above $112,000, targeting $120,500 before a potential parabolic rally to $140,000–$150,000.
- The projected rally could take months to materialize, requiring sustained stability in traditional markets to fuel crypto speculation.
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