Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
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

Cardano founder says Chainlink quotes ‘ridiculous price’ to them.

September 3, 2025

The US government posts GDP data on Bitcoin block chain.

August 28, 2025

Ether ETF is a comeback of $ 280 million, with bitcoin leaked stripes hit on the 5th.

August 22, 2025
Add A Comment

Comments are closed.

Recent Posts

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Is XRP The Dark Horse Of The Cryptocurrency World? Earn 652 XRP Daily Using Invro Mining’s Smart Contract

September 4, 2025

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025

Sign Up And Receive $500 Bonus, Ushering In A New Era Of Compliant And Secure Crypto Investment

September 4, 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

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025
Most Popular

Celsius Liquidates Tokens and Hundreds of NFTs Following Agreement with KeyFi Founder Jason Stone

July 15, 2024

MicroStrategy sees Bitcoin Bank’s ultimate valuation at $1 trillion, Michael Saylor tells Bernstein.

October 11, 2024

Assessing BGB price stability, SEI surge and BDAG’s investment advantage

April 5, 2024
  • 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.