What to expect from bitcoin in June

Bitcoin has grown significantly over the past month, having reached a new historical maximum by $ 111,980. This sharp jump raises questions about how sustainable BTC growth will be in June

While some investors are full of optimism and are waiting for further BTC growth, others doubt whether growth will slow down and whether the owners of Bitcoin will choose more careful tactics.

Investors are actively buying bitcoin

The mood in the Bitcoin market is now determined by active accumulation. The balance on exchanges decreased by 66 975 BTC (more than $ 7.2 billion). This suggests that investors transfer their assets from exchanges into private wallets. Such a decrease in available bitcoins on exchanges indicates a growing trust in asset and faith in further prices. The accumulation is also partially related to FOMO (fear of missing a profitable opportunity), as new investors are in a hurry to enter the market.

Juan Pellier, Vice President of Sentora research, recently told how other factors, in addition to accumulation, influenced the increase in bitcoin prices.

The reached price of the price and margin of profit/loss (On-Chain Trader Realized Profit/Loss Margin) show growth. This indicates the significant unrealized profits of investors, especially those who bought BTC 1-3 months ago. The indicator helps to understand the behavior of investors and shows that many of them continue to keep the asset in anticipation of further prices.

Hulio Moreno, head of the analytics department in Cryptoquant, told how the growing profits of short -term holders can adversely affect Bitcoin.

The price of BTC strives for the new maximum

In May, Bitcoin rose by 14%, reaching a record mark of $ 111,980. At the time of writing, it is traded at $ 108,258 and tries to overcome the resistance of $ 110,000. The coming days will show whether Bitcoin can save this impulse. If institutional and retail investors continue to accumulate BTC in June, the price can maintain a bull trend.

Interestingly, the strategy “Sell in May and Leave” did not work on stock markets last year. They continued to grow contrary to seasonal expectations. Bitcoin often moves in unison with stock markets, especially in the conditions of the current macroeconomic situation. Therefore, he can continue growth in June. Given the stability of bitcoin, it will probably grow even in conditions of market uncertainty.

The price can ultimately overcome $ 110,000, turning it into a reliable level of support, and then reach a historical maximum and aim at $ 115,000. However, if the fixation of the profit intensifies, the BTC can make a correction. A sharp fall is unlikely, but the currency may encounter consolidation before continuing the ascending trend. Support levels of $ 102,734 and $ 106,265 should play the role of buffer when reduced.

Be in the know! Subscribe to Telegram.