Bitcoin lacks strong catalyst to beat its $112K ATH: Analyst

Key Points

  • Bitcoin is close to its all-time high of $111,970 but lacks a strong catalyst to break above this level, according to Bitfinex analysts.
  • Without significant macro or structural support, Bitcoin risks short-term corrections, especially if long-term holders sell off.
  • Holders from Q1 2025, who endured a drop below $80,000, face a critical decision as prices hover near ATH levels.
  • A potential $1.08 billion in short positions could be liquidated if Bitcoin reclaims its all-time high, per CoinGlass data.
  • Macro events like the US Federal Reserve’s interest rate decision on June 18 and Trump’s tariff policies are key factors to watch.

Summary

Bitcoin is nearing its all-time high of $111,970, currently trading at $109,519, but Bitfinex analysts warn of insufficient fundamental support to surpass this level. They highlight the risk of short-term corrections without a strong catalyst, especially if long-term holders sell during this period of sideways price movement near ATH levels. Investors who bought in Q1 2025 at a low of $78,513 are now up 39%, facing a pivotal decision that could shape market trends. A sudden sell-off might lead to prolonged consolidation, a pattern seen after Bitcoin’s March 2024 peak of $73,679. Meanwhile, $1.08 billion in short positions risk liquidation if the ATH is reclaimed. Analysts are monitoring macroeconomic factors, including the US Federal Reserve’s upcoming interest rate decision on June 18, which could influence risk-on assets like Bitcoin, and ongoing uncertainties around US President Donald Trump’s tariff policies, seen as a significant threat to bullish momentum. Despite a 5.21% price increase over the past 30 days, the absence of clear catalysts and potential policy stagnation could trap Bitcoin in a cycle of uncertainty for the near future.

cointelegraph
June 10, 2025
Crypto
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