Forster noted that a decrease in bitcoin below $ 110,000 is not a renewal of a bear market.
“The recent jump to more than $ 111,000 was noticeable, the current price movement indicates the consolidation phase. The upcoming decision of the US Federal Reserve on interest rate, which will be accepted on June 18, will be crucial for the market, ”Forster said.
Although the third quarter was historically a “weaker period” for bitcoin, in 2025 the script may be different. In the third quarter, favorable changes in regulation and the maintenance of institutional investors will contribute with positive price changes, the expert believes.
He pointed out a significant influx of capital in spot ETF on bitcoin, which, nevertheless, did not have a significant impact on quotes.
“Despite a significant influx of funds in Bitcoin-ETF, in particular, more than $ 6.2 billion in the BlackRock ISHHARES BITCOIN TRUST in May, the price of bitcoin has not experienced proportional growth,” Forster noted. “This can be explained by the nature of investments in these stock exchange products, involving the participation of institutional investors looking for entering the market, but do not have a quick effect on the cryptocurrency in the spot market.”
Earlier, Coindesk experts said that the owners of crypto -shoes with balance of 10,000 BTC moved from acquisition to the distribution of assets, and holders with lower positions continue to accumulate the first cryptocurrency.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
