Bitcoin Fills CME Gap Amid Trump’s $300M BTC Options Strategy – Will Corporate Buying Take Price Past $150k?

Bitcoin (BTC) is still near record highs, but this has not prevented market dynamics from coming into play. The CME gap that often tells whether the Bitcoin price is going next has been filled. With this hurdle out of the way, can BTC reach $150,000, especially with Trump Media stepping in with a $300M options strategy?

Bitcoin Price Eyes Recovery As It Fills CME Gap

There were a lot of wild swings the past weekend, but overall, bulls had the upper hand. That helped push Bitcoin back toward the $120,000 zone. Even so, there is still some hesitation that another dip will occur before BTC goes for a new all-time high.

Analyst Daan Crypto pointed out that there was an unfilled CME gap between $118,300 and $120,000. For the last five Mondays, this gap that is usually left during the weekend has been closed. This is the same case today, July 28.

At press time, BTC price traded at $118,914, indicating that the vacuum is now partially filled. Daan Crypto added that traders should not hold their breath waiting for the price to drop to as low as $118,200. He said,

“Watch the gap, but don’t value it too much. I’ve seen people left behind of entire bull markets back last cycle just because they were waiting on a gap fill.”

Bitcoin Targets $150,000 After Trump’s $300M BTC options Strategy

Whenever Bitcoin prints a new high like it did on July 14, the market does not always reset. Instead, traders sit by to see whether a new high will be created, and this mostly applies to those who missed the previous one.

With only a 3.4% correction from the $123,091 record, the market is not short of Bitcoin price forecast figures that are heavily bullish.

For example, CoinGape reported that Citigroup predicts BTC will reach $199,000 this year. Its prediction was based on institutional interest that is not showing signs of waning.

Bloomberg has brought to light the fact that Trump Media has invested $300M to buy Bitcoin options. The report says that Trump’s company will not be buying BTC the same way that many companies are doing. Instead, it will make use of how fast the BTC price changes to make leverage trades.

At the same time, the technical structure shows that Bitcoin is back to testing the resistance that has held for several weeks since July 13. In the process of doing so, the BTC price is about to confirm a bull flag. Based on the height, a 25.47% rally is likely to happen from $120,250 to $150,867.

The 20-day SMA is not invalidating this bullish outlook, considering that it is now serving as support. In fact, it is a level that has been providing a strong base for the Bitcoin price since Monday last week. The RSI at 61 also adds weight to the momentum being bullish.

Hence, $150,000 might just be attained by Bitcoin before the third quarter ends. Trump Media and other firms that do not want to miss out on the BTC train might jump in between August and September and help achieve this target.