What I believe is we are experiencing a bull trap.The ''new'' money is lacking.The china-usa trade war issue is somehow positive for BTC and interest rate cut may draw interest of some big multi million whales to crypto investment however taxation and risk aversion will keep the actions as reactions and bull traps.
I agree. This bull trap might run all the way to $300k. A lot of bitcoin bulls might get caught and be forced to sell part of their stack well above $100k.