Bitcoin Hovers at $122K: Can It Reach $140K by Month's End Despite Tuesday's 5% Drop?

Bitcoin to $140K by Month End? Bullish Hopes Remain Despite Tuesday Drop In a market driven by positioning and flows rather than fresh catalysts, Bitcoin's price continues to hover around $122,000, sparking hopes of potentially reaching $140,000 later this month. The cryptocurrency's value has been on a rollercoaster ride, with some experts predicting a 50% probability of hitting the elusive mark. According to economist Timothy Peterson, "The market is running on fumes, and it's anyone's guess what will happen next." Despite the uncertainty, many investors remain bullish on Bitcoin's prospects. "We're seeing a lot of buying interest in Bitcoin, particularly from institutional investors," said a spokesperson for a leading cryptocurrency exchange. On Tuesday, however, the market took a hit as Ethereum (ETH), Ripple (XRP), and Solana (SOL) dropped by around 5%. The decline was attributed to a combination of factors, including a lack of fresh catalysts and positioning ahead of the Washington reopening. "The market is essentially running on autopilot," said a market analyst. Bitcoin's price has been on a tear in recent months, reaching an all-time high of $126,200 earlier this week. While some experts predict a correction, others believe that Bitcoin's momentum will continue to drive prices higher. "We're seeing a lot of institutional money pouring into Bitcoin, and it's hard to see how the price wouldn't go up," said a prominent cryptocurrency investor. The market is expected to remain volatile in the coming days, with no major economic releases on the horizon until Washington reopens. As investors wait for fresh catalysts, they will be keeping a close eye on Bitcoin's price action. "It's anyone's guess what will happen next, but one thing is certain – the cryptocurrency market will continue to be a wild ride," said Peterson. Current Status: Bitcoin (BTC) trading around $122,000 Ethereum (ETH), Ripple (XRP), and Solana (SOL) down by 5% on Tuesday Market driven by positioning and flows rather than fresh catalysts Next Developments: Washington reopening expected to bring fresh economic releases Institutional investors continue to pour money into Bitcoin Market analysts predict continued volatility in the coming days *Reporting by Coindesk.*