$BTC
Is Bitcoin about to take off?
It is expected to break the historical high,
The market may continue until summer!
Recently, Matrixport's weekly report mentioned that Bitcoin has rebounded to the upper range of the fluctuation zone, which is $106,000. Now, various favorable factors are emerging, and everyone feels that Bitcoin is very likely to break its historical high. The risks of Bitcoin's price decline that were present before have significantly eased, and the trend of rising prices is becoming more and more apparent. Trump recently stated that he wants to focus on attracting investment and trading cooperation, which has boosted confidence in the stock market and Bitcoin. If Trump's previous tax cut policies continue to be implemented, combined with possible regulatory relaxations, economic growth expectations will be raised, and bond yields will be repriced.
In this context, risk assets like Bitcoin may welcome a good trading opportunity before July. This period coincides with the end of the 90-day tariff truce agreement, the start of the second quarter earnings season, and the timing of liquidity indicators we are tracking, which are expected to peak. In addition, FTX is about to start the debt repayment process, and for accounts with debt amounts exceeding $50,000, it is expected to commence around May 30, 2025. This round of repayments is expected to distribute $5 billion in stablecoins, a significant portion of which may flow back into the crypto market. The newly added funds may drive market development in June, along with continuous inflows into Bitcoin ETFs and active stablecoin trading, making the market more lively.
Since Bitcoin broke the technical level of $84,500 in mid-April, we have always felt that its prospects are good. Although Bitcoin has risen by about $20,000 (approximately 25%), we believe it has not reached its peak yet, and this wave of price increase is likely to continue until summer.
