The crypto market over the recent few days, has observed bulls and bears fighting for control, which kept Bitcoin price action making range range-bound moves, primarily after the Israel-Iran conflict.
Experts predict that Bitcoin can move as high as $125K amid massive bullish sentiment or as low as $90K in case of dominance by the bears.
Bitcoin Price Shrugs Off ETF Inflows and FOMC
As widely anticipated, the US Federal Reserve held benchmark rates steady. However, the Committee maintained its hawkish stance, noting that near-term inflation expectations remain elevated, with tariffs cited as a key upside risk.
With the 9 July EU tariff pause deadline looming, the US has concluded just one trade agreement out of nearly 195 potential partners.
QCP Capital on June 19 points to cautious positioning and expectations for near-term pullbacks. This is because BTC front-end implied vols have dipped, erasing Bitcoin’s recent price gains amid geopolitical jitters.
10x Research highlighted that institutions continued buying Bitcoin ETF as it absorbed over $24 billion in demand since mid-April, but the price action remains flat. Notably, Bitcoin ETFs saw $388 million in inflows on Wednesday.
As per 10x Research, the imbalance — bias toward highlighting positive developments and ignoring selling factors — is a major reason the crypto lacks reliability.
Can Bitcoin Price Reach $125K?
“Rich Dad Poor Dad” author Robert Kiyosaki on Thursday said the Bitcoin price to hit $1 million by 2030. “I wish I had more fake money to buy more Bitcoin,” he said.
Other experts, including Cathie Wood and Arthur Hayes, held similar perspectives. Bitcoin’s increasing demand from institutions and companies amid the strategic reserve initiative holds great promise for a parabolic BTC price run.
As per Lark Davis, the upside breakout target for BTC is about $125,000. Bitcoin continues to hold the 50-day EMA as support and is consolidating inside a symmetrical triangle pattern.
However, if the bearish sentiment in the market becomes strong, BTC price downside breakdown to $90,000 can happen.
Analyst Daan Crypto Trades predicts the market is waiting for a big move to occur despite BTC still hanging around the $105K area. “The statistics still heavily favor a further displacement this week and especially this month,” he added.
Bitcoin price is unlikely to remain in the $103,505-$109,000 range. Traders need to keep an eye on these levels and plan accordingly.
Popular analyst Scott Melker, aka The Wolf of All Streets, said Bitcoin traders are hedging for a drop to $100K as war fears grow.
BTC Price Action Post FOMC
BTC price remains almost flat after the FOMC and Fed Chair Jerome Powell’s speech. The price was changing hands at $104,675, with a 24-hour low and high of $103,602 and $105,329, respectively.
Furthermore, the trading volume has decreased by 13% in the last 24 hours, indicating a decline in interest among traders.
CoinGlass data indicates that total BTC futures open interest has also declined slightly in the last 24 hours. At the time of writing, the total BTC futures OI was at $69.65 billion.
Notably, CME and Binance saw a 0.5% and 0.1% drop over the last 4 hours, indicating a drop in sentiment among derivatives traders.
