Bitcoin is gaining momentum to hit a new all-time high. Speculation on the long side is dancing with expectations of interest rate cuts. The target price for the end of the year is $150,000.

According to the Securities Times APP, due to the continued improvement of the macroeconomic outlook supporting risk assets including cryptocurrencies, Bitcoin is expected to break through its historical high this month. According to CoinGecko's data, last weekend's rebound helped offset losses from the previous week, with Bitcoin rising 4.5% since opening on Saturday, trading slightly below the historical high of $122,838 set on July 14. At the same time, data from the derivatives platform Coinalyze shows that open interest contracts for Bitcoin have increased by 7,834 coins, with a significant increase in buying volume for spot and perpetual contracts, indicating that this round of increase is mainly driven by speculative long positions.