Bitcoin (BTC)
105,140 is currently trading at $103,600 with a 1.45% increase for the day. Despite the weekend’s low trading volume, the bitcoin price shows promising signs of consolidating at higher levels. What do analysts predict for its next phase, and what are the expectations?
Bitcoin (BTC) Outlook
In his analysis prepared at the time of writing, Michael Poppe highlighted Bitcoin’s successive closures above the $98,000 mark. He deems this as a crucial region that must be maintained to ensure the uninterrupted continuation of the uptrend.
“Our view on Bitcoin remains unchanged. As long as it stays above $98,000, we are good for further upward movement. This is the final consolidation before we break ATHs and start having fun.”
Ali Martinez has focused on the whale movements over the last 72 hours. Whales rapidly sold 30,000 BTC and made a profit, yet the strong market performance serves as an indicator of a new era, unlike previous false rallies.
Cryptocurrencies and the Next Phase
We have seen long periods of consolidations and declines. Altcoins, in particular, experienced conditions that could rival the toughest days of bear markets. However, it is now being understood that declines will not continue indefinitely, and the next phase has begun.
DaanCrypto elaborates on this, agreeing with Poppe that we are in the final consolidation phase.
“BTC has been doing roughly the same thing since the lowest levels in April. Upward movement, tight consolidation, new rise. Keep an eye on this local range and expect a breakout in either direction, which would be my advice. Pre-positioning in a small range without proper invalidation will only tear you apart. There is no harm in moving according to price action instead of trying to predict in advance.”
With a breakout of either range, an upward or downward movement will gain momentum. Although many analysts are no longer expecting a downward breakout, the arrival of summer brings the risk of declining volumes to mind. We will watch and see what unfolds.
For now, the pressure related to tariffs is reducing, and more completed agreements are expected to support the bulls.
