On Monday evening, Bitcoin $BTC approached $109,000 amid recovery from the shock of news about the escalation of the conflict in the Middle East. After that, the cryptocurrency momentarily corrected to $106,000. At the time of writing this review, Bitcoin has recovered to $107,340.
Opinions among members of the crypto community about what lies ahead for Bitcoin have diverged. Analyst MartyParty believes that the chart of the cryptocurrency shows a Wyckoff accumulation. According to his observations, the technical analysis pattern is in its final phase, which could drive Bitcoin to new highs near $130,000. Judging by the timing indicated on the chart, the analyst expects the level to be reached by the end of June 2025.
Marty Party believes that the main trigger for the continued growth of BTC could be the Fed's decision on interest rates. It is worth noting that there is only one day left before the regulator's meeting. The analyst expects a rate cut. At the same time, almost 100% of market participants are confident that the Fed will not lower the rate, despite the pressure from U.S. President Donald Trump.
