Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»BITCOIN NEWS»Is Bitcoin Ready to Take Off? Analysts expect $85,000 as fundamentals are in line.
BITCOIN NEWS

Is Bitcoin Ready to Take Off? Analysts expect $85,000 as fundamentals are in line.

By Crypto FlexsJune 4, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Is Bitcoin Ready to Take Off?  Analysts expect ,000 as fundamentals are in line.
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price is hovering near $70,000, bouncing off an important dynamic support line as seen on the daily chart. The bulls have yet to break $72,000 or the March 2024 high, but traders are optimistic about what lies ahead.

Bitcoin Bulls in Charge: Analyst Targets $85,000

Let’s look at one analyst, X. Believe The world’s most valuable coin is poised for a decisive break above local resistance levels and an all-time high of around $74,000. The analyst pointed out in the post that Bitcoin has been consolidating, moving sideways and even moving lower over the past three months since mid-March.

Related Reading

If the buyers are successful, a nearly 100-day consolidation could set the stage for a price surge, opening the “next stage” that could push BTC as high as $85,000. But even amidst the optimism, traders must be cautious.

BTC may bounce after consolidation | Source: @CryptoJelleNL via X

Technically, upward momentum has weakened. Despite the increase on June 3, the upward trend is slowing as buyers were unable to confirm the increase on May 20. For further gains, the upper level of $72,000 must be conquered by now. The lower support level is $66,000.

Bitcoin price upward trend on daily chart |  Source: BTCUSDT on Binance, TradingView
Bitcoin price upward trend on daily chart | Source: BTCUSDT on Binance, TradingView

Nonetheless, the dynamic 20-day moving average is emerging as a valuable support line. A breakout in either direction will be fundamentally driven, most preferably in line with first quarter 2024 profits.

Fan demand increases due to inflation and spot BTC ETF inflows

Looking at US fundamental data streaming, the stage is being set for bullish buyers. cooling inflation and rising trend M2 Money Supply could do It suggests that the buyer is ready.

The U.S. Federal Reserve has been closely monitoring inflation, among other indicators. As inflation falls, the Federal Reserve may decide to cut interest rates, fueling a bull market like it did in 2021.

Related Reading

Another key driver will be encouraging inflows into spot Bitcoin ETFs. BTC surged, hitting a March 2024 high, with inflows surging primarily due to institutional demand. Inflows gained momentum after prices rose on May 20.

June 3 Lookonchain data exposed US spot BTC ETF issuers added 2,413 BTC. Grayscale’s GBTC is down just 12 BTC.

Spot Bitcoin ​​ETF inflows |  Source: @lookonchain via X
Spot Bitcoin ​​ETF inflows | Source: @lookonchain via X

The launch of the Monochrome Bitcoin ETF (IBTC) in Australia and similar products in Hong Kong and globally will only increase demand for BTC. The newly launched IBTC spot ETF in Australia will directly hold BTC, which will be managed by Coinbase.

Featured image by DALLE, chart by TradingView

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Sequans starts $ 384M Bitcoin Treasury Initiative with Swan Bitcoin Partnership.

June 23, 2025

ECB Chairman Lagarde aims to seize the global order to strengthen the Euro’s global position.

June 17, 2025

Bitcoin aims for $ 115K after US CPI data prefers investors.

June 11, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Client diversity is important on Ethereum and we must achieve it.

March 3, 2024

According to this indicator, Litecoin investors are truly diamond hands

February 25, 2024

Wyoming Proposes Strategic Bitcoin Reserve Bill

January 18, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.