Famous Bitcoin Analyst's New Prediction for BTC Price: "Michael Saylor's Last Move, the BTC Price Target..."

According to Bitcoin analyst James Check, we may be on the verge of a big rise in the crypto market.

Check stated that the up to 15% increase in the new equity instruments launched following MicroStrategy's rebranding as "Strategy" is a "critical signal" that Bitcoin will rise to $120,000.

Under the leadership of Michael Saylor, Strategy has attracted attention in recent years by aggressively accumulating Bitcoin. The company currently holds approximately 597,000 BTC, which equates to an asset value of $63 billion. While a large portion of these purchases is financed through convertible bonds, the three new preferred stock products announced by Saylor this year have garnered significant interest among investors.

According to James Check's assessment in the newsletter Checkonchain, the rise of such financial instruments usually comes before significant price movements. Check stated, "This behavior is typically observed before price explosions. I believe Bitcoin could be moved to $120,000 very quickly."

This assessment coincided with a week when optimistic predictions that Bitcoin could rise to 136,000 dollars were on the agenda in July. The increasing optimism among market analysts is influenced by decreasing geopolitical tensions in the Middle East, the preparation of a new wave of liquidity by the U.S., and President Donald Trump's continued crypto-friendly stance.

According to Check, on-chain data also supports the rise. While implied volatility in options markets is falling to record low levels, short positions in futures are increasing, strengthening the likelihood of a potential short squeeze. Additionally, monthly stablecoin inflows are at levels of 4 to 6 billion dollars. All these developments indicate that major players are quietly accumulating.

However, not all investors agree with this table. Famous short seller Jim Chanos argues that the premium between the share price of Strategy's Bitcoin assets and their market value is illogical. Chanos called Saylor's financial engineering "utter nonsense" and described Strategy investors as "crazy."