Bitcoin Price Plunge
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Bitcoin Price Analysis: Geopolitics, Macro Volatility, and Liquidity Shifts Set the Stage for a Potential Breakout
As the last week of June begins, Bitcoin (BTC) finds itself at a critical juncture, with geopolitics and macro volatility poised to influence its price trajectory. The latest developments in the Middle East have sparked knee-jerk reactions in crypto, oil, and stocks futures, but analysis suggests that no "long-term conflict" is being priced in. Meanwhile, the US Federal Reserve’s "preferred" inflation gauge and Chair Jerome Powell’s testimony to lawmakers are set to shape the economic landscape.
Liquidity Shifts and Support Levels
Exchange order book liquidity has shifted toward the $90,000 mark, with popular trader CrypNuevo warning that the next support retest may run deeper. The $95,000 level is now showing significant liquidity, which could indicate a potential price target. However, data from CoinGlass shows support staying in place higher up, in a range that coincides with the cost basis for investors holding BTC for six months or less.
Altseason Trigger and Bitcoin Dominance
Bitcoin dominance is approaching the typical long-term reversal mark, which could trigger an "altseason." This, in turn, may lead to a surge in alternative cryptocurrencies, potentially affecting BTC’s price. Additionally, analysis predicts that 2025 percentage gains could take BTC/USD over $200,000.
Key Takeaways and Predictions
- Geopolitics and macro volatility: The ongoing developments in the Middle East and the US Federal Reserve’s actions will continue to influence Bitcoin’s price.
- Liquidity shifts: The $90,000 mark is gaining traction as a potential support level, while the $95,000 level is showing significant liquidity.
- Altseason trigger: Bitcoin dominance is approaching the typical long-term reversal mark, which could trigger an "altseason" and affect BTC’s price.
- Price predictions: Analysis suggests that 2025 percentage gains could take BTC/USD over $200,000.
Conclusion
As the last week of June unfolds, Bitcoin traders are bracing for new lows, but the shifting liquidity and support levels suggest a potential breakout. The ongoing geopolitical developments, macro volatility, and the US Federal Reserve’s actions will continue to shape the price trajectory. With Bitcoin dominance approaching the typical long-term reversal mark, an "altseason" could be on the horizon, potentially affecting BTC’s price. Ultimately, analysis predicts that 2025 percentage gains could take BTC/USD over $200,000, making the next few weeks crucial for Bitcoin traders and investors.
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