As we step into the final week of June, the world of Bitcoin is buzzing with speculation and analysis. With geopolitical tensions at a tipping point and macroeconomic instability to match, where is Bitcoin headed next? Here are five crucial insights to help you navigate the stormy seas of the Bitcoin market this week:
1. Bitcoin traders brace for further lows: Exchange order book liquidity indicates a potential dip towards the $90,000 mark. The recent upheaval in the Middle East has initiated swift reactions across cryptocurrency, oil, and stock futures. Yet, market analysis hints that no “long-term conflict” is being factored into prices.
2. A testing week for the US Federal Reserve: The inflation gauge favored by the Fed will be closely watched, following Chair Jerome Powell’s two-day testimony to lawmakers. Bitcoin dominance is inching towards the typical reversal point, possibly triggering an “altseason”.
3. Liquidity suggests possible new lows for Bitcoin: Bitcoin recently hit its lowest level since early May, before sealing a weekly close around $101,000. However, traders are predicting that the next support retest could plunge deeper, possibly towards the $95,000 mark.
4. Markets ignore potential “long-term conflict” in the Middle East: Despite the recent developments in the Israel-Iran conflict, market participants appear to be anticipating a short-lived war. Amidst tariffs, wars, Fed decisions, recession concerns, and inflation data, the market is arguably noisier than ever.
5. Pressure on Fed’s Powell mounts ahead of PCE release: The Federal Reserve’s inflation gauge, the Personal Consumption Expenditures (PCE) index, is due for release on June 27. This comes at a crucial time for the Fed, under increasing pressure over interest rates from US President Donald Trump.
Please note: This article does not offer investment advice. Every investment and trading move involves risk. Always conduct your own research before making a decision.
