<ul data-eligibleForWebStory="false"><li>Bitcoin is showing signs of a potential rally towards $120,000 as bearish sentiment shifts to bullish.</li><li>Traders are optimistic as futures data indicates a growing preference for long positions.</li><li>A sustained defense of the $108,000 level and a break above $109,500 could pave the way for a significant upward movement for Bitcoin.</li><li>Factors like macroeconomic uncertainty, reduced demand for bearish protection, and fears of an economic slowdown are contributing to Bitcoin's positive outlook.</li></ul>

Bitcoin Poised for Breakout to $120K as Bearish Bettors Turn Bullish

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