Bitcoin has yet to update its peak in June. Despite the weakness, the coin continues to attempt to storm levels close to its ATH.
Ryan Lee, the chief analyst at B****t R******h, provided a forecast for BTC and ETH for the coming week and discussed the prospects of the coins on the horizon of 2025.
He began by noting that Bitcoin's movement is a step away from the record high, supported by strong macroeconomic factors.
Record performance of the American stock market, sharp increase in the money supply, and large-scale fiscal policy, especially Trump’s 'One Big Beautiful Law,' are key drivers.
According to the Congressional Budget Office's forecast, the initiative of the US president will add $3.3 trillion to the budget deficit over the next decade. The changes will strengthen expectations for further growth in the money supply.
Under such conditions, Ryan Lee noted that Bitcoin has a good chance of surpassing the previous high already in July, with growth potential up to $120,000 by the end of the month. Institutional demand and stable inflows into ETFs will help the cryptocurrency.
Ethereum, according to our expert's observations, is also gaining strength amid the rise in the number of large holders and a new wave of optimism. The analyst believes that ETH could test the $3,000 level by the end of July.
The expected rate cut by the Fed in September, in his opinion, could become an additional catalyst for growth.