Economist and trader Alex Küger believes that Bitcoin (BTC) will be ready to go higher in the coming weeks, driven by one catalyst.
Krüger tells His 210,500 followers on the social media platform X that he expects Bitcoin to hit $ 120,000 in June.
According to the generally followed economist and trader, the proposed distribution of approximately $ 5 billion in creditors of the collapsed crypto exchange will serve FTX as a bullish catalyst for bitcoin at the end of May. Krüger thinks that the funds will re -enter the Cryptomarkt, because the creditors will usually be the big claim holders.
But the economist warns that at the beginning of July Bitcoin could be bearish in the midst of uncertainty caused by the dispute over rates.
“The 90-day rates pause * can * an important Bearish catalyst. That is on July 9. Depending on the Nieuwstroom of the White House, it makes sense for markets to become anxious about rates two to three weeks before.”
In contrast to Krüger’s largely bullish look at Bitcoin in the short term, crypto analyst Justin Bennett out The Digital Activum flagship could fall under $ 100,000 after he had not convincingly removed his last resistance at around $ 110,000.
“No change in this BTC analysis other than starting to break down.
I stopped at $ 111,269. I will add $ 106,000 below if we get it. Looking for $ 96,000/$ 97,000. “
Bitcoin is traded at $ 107,435 at the time of writing, a decrease of all time of slightly less than $ 112,000 that was reached earlier this week.
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