#OnChainLendingSurge 💵 Predictions for BTC at $120,000 have surged sharply since Trump's inauguration

There is a spike in interest in the call option for BTC at $120,000 on exchanges, which currently amounts to $1.52 billion.

🌐 According to the director of Amberdata, the bullish momentum is driven by favorable sentiment surrounding Trump's cryptocurrency position.

Technical analysts are observing 2 potential scenarios for BTC:

1️⃣ BTC recently mirrored the Wyckoff accumulation model, last seen during the FOMC rate cut. Holding the support level at $90,800 with possible wicks down to $86,500 would confirm an upward trend.

2️⃣ The resistance level at $102,760 requires a decisive breakout with strong volume to confirm further growth. Movement above this level could push BTC to $110,000 and beyond in the coming weeks.

🔵 Exchanges: OKX, ByBit, BingX