Bitcoin breakout to $120K on radar as markets forget Fed July rate cut

Bitcoin is likely consolidating before its next upward push, traders agree, while the macro picture looks tricky for risk assets as the Fed stays hawkish.

Key points:

Bitcoin continues to range around $103,000 as bulls struggle to keep upside momentum going.

Traders favor short-term BTC price gains eventually returning, while overall faith in the bull market varies.

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