The likelihood of Bitcoin eclipsing its peak of $109,000 by June appears promising, yet the market needs time to adjust to turbulent macroeconomic circumstances, according to Swan Bitcoin CEO Cory Klippsten.
“I believe there is a greater than 50% probability that we will reach all-time peaks before the conclusion of June this year,” Klippsten shared with Cointelegraph.
Nonetheless, he mentioned that market participants must first acclimate to US President Donald Trump’s tariff threats and the ambiguities surrounding inflation rates.
Markets require time to assimilate
“The market initially needs to assimilate tariffs, concerns about trade conflicts, and apprehensions regarding economic growth. Bitcoin trading below $100,000 at this moment feels like a pause, rather than the conclusion of the bull market,” he expressed.
At the time of writing, Bitcoin was trading at $88,210, a decline of 4.9% in the last day, according to CoinMarketCap data indicates. Bitcoin has fallen nearly 14% since Trump declared import tariffs on products from China, Canada, and Mexico on Feb. 1.
Bitcoin is trading at $88,210 at the time of publication. Source: CoinMarketCap
Klippsten noted that Bitcoin’s momentum from its initial breakout past $100,000 in December 2024 hasn’t “completely dissipated,” and institutional interest “remains intact.”
“The macroeconomic unpredictability — geopolitical friction, inflation worries, and shifts in Federal Reserve policies — is certainly generating noise, but I would contend it’s primarily short-term.”
“We are currently in a consolidation stage, but I don’t perceive it stretching into prolonged lateral movement,” Klippsten remarked.
After Bitcoin reached an all-time peak of $73,679 in March, it consolidated within a broad range of $53,000 to $72,000 for the subsequent eight months. It then regained that level after Trump’s election in November and surged to $100,000 the following month.
Bitcoin might fluctuate between $85,000 and $95,000 for a while
Bitcoin plunged to below $85,000 shortly after Trump enacted an executive order establishing a Strategic Bitcoin Reserve.
Trump’s decree did not meet market expectations as it merely affirmed that the majority of Bitcoin held by the US government would not be liquidated and did not provide a specific timeline for acquiring more, nor the quantity it intended to purchase.
Related: Bitcoin price metric that predicted the 2020 bull run indicates $69K as a new low
Following Bitcoin’s price decline, network economist Timothy Peterson informed Cointelegraph that based on historical trends, it is probable that Bitcoin will oscillate between $85,000 and $95,000 over the next six to twelve weeks before gradually trending back above $100,000.
Bitwise Invest CEO Hunter Horsley is not particularly troubled by Bitcoin’s price decline after the Strategic Bitcoin Reserve announcement, highlighting that a comparable drop occurred following the introduction of spot Bitcoin exchange-traded funds (ETFs) in January 2024.
“Bitcoin experienced a sell-off following the launch of Bitcoin ETFs. Then it reached a new ATH. Traders will trade,” Horsley stated in a March 7 X post.
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This article does not offer investment guidance or recommendations. Every investment and trading decision carries risk, and readers should perform their own research prior to making any decisions.