Bitcoins Future Outlook After Surpassing $107,000: Insights from Market Experts

The chief analyst at Bitget Research, Ryan Lee, has linked the current market trends to macroeconomic developments. He noted that investor risk appetite is being influenced by trade negotiations between the US and China, as well as signs of deflation in the latter’s economy.

He anticipates trading within a range of $100,000 to $108,000. A breakout above the resistance level at $107,000 could trigger a new bullish momentum. However, if negative market sentiment persists, the price might fall to support around $96,000.

Alexandr Peresichan, CEO of Technobit, believes that the primary driver of the market is the information backdrop rather than fundamental indicators.

“The movements in Bitcoin’s price are largely dictated by the news surrounding it. A recent surge in volatility, particularly influenced by the public conflict between Elon Musk and Donald Trump, is quite telling,” he stated.

Peresichan added that the absence of a decision on trade tariffs and the continued high key rate from the Federal Reserve hinder significant upward movement. Nonetheless, hopes for a rate cut in the fall and interest from institutional investors foster a zone of resilience. He predicts that in the upcoming weeks, Bitcoin will fluctuate between $100,000 and $110,000, while Ethereum is unlikely to surpass the $2,700 mark.

Alexey Zyuzin, CEO of Crypto Summit, concurs with the importance of institutional support, emphasizing that major players still see Bitcoin as a tool for strategic diversification.

The speaker considers it unlikely that the price will drop below $98,000 under a neutral news environment. Positive indicators, such as advancements in trade discussions between the US and China or a reduction in the Federal Reserve’s rate, could push prices higher.

Experts agree that the key factors influencing Bitcoin remain the decisions of the Federal Reserve, geopolitical issues, and demand from large investors. In the short term, they expect price consolidation within the $100,000 to $110,000 range, with any breakout from this corridor dependent on global events.

It’s worth noting that analysts from Bitfinex have predicted a new Bitcoin peak at $125,000 in July.