Leading crypto analyst Michaël van de Poppe is even more bullish and believes that Bitcoin will reach a new ATH of $500,000, and that too, faster than he expected — all due to the devaluation of the U.S. dollar. "$120,000 is imminent. $150,000 is imminent. $200,000 is imminent." Poppe opined on X.

U.S. fiscal concerns and a tepid auction of Treasury bonds kept the dollar pinned near a two-week low on Thursday, while the U.S. Congress moved closer to passing President Donald Trump's bill for massive cuts in taxes and spending.

The U.S. dollar weakened due to market unease over Trump's tax-and-spending bill and a weak 20-year bond auction. Bitcoin hit an all-time high of over