Swan Bitcoin CEO Cory Klippsten believes that Bitcoin’s chances to surpass its previous high of $109,000 in June are good, but first the market needs time absorb volatile macroeconomic situations.
“I think there’s more than 50% chance we will see all-time highs before the end of June this year,” Klippsten spoke to Cointelegraph.
He said, however, that participants in the market must first adapt to President Donald Trump’s threats of tariffs and to uncertainty surrounding inflation rates.
The markets need to digest
“The market needs to first digest tariffs, trade war fears, and growth scare fears. Bitcoin trading below $100,000 right now feels like a pause, not an end to the bull run,” He said.
CoinMarketCap data shows that Bitcoin traded at $88,210 when this article was published, down by 4.9% from yesterday. shows. Bitcoin is down almost 14% since Trump Import tariffs were announced on February 1 for goods coming from China, Canada and Mexico.
Bitcoin was trading for $88,210 as of the date of this publication. Source: CoinMarketCap
Klippsten stated that Bitcoin’s growth from the first time it broke through $100,000 in December 2024, hasn’t been able to keep up with its initial break. “entirely faded,” Institutional demand “hasn’t gone away.”
“The macroeconomic uncertainty — geopolitical tensions, inflation fears, and Fed policy shifts — is definitely creating noise, but I’d argue it’s mostly short-term.”
“We’re in a consolidation phase now, but I don’t see it stretching into long-term sideways movement,” Klippsten said.
Bitcoin: What happened? all-time high of $73,679 in MarchIt then consolidated between a wide range of $53,000- $72,000 in the eight following months. After Trump’s election in November, it regained that level and soared to $100,000 within the month.
Bitcoin price may fluctuate from $85,000 to $90,000 for a while
Bitcoin fell to an all-time low of less than $85,000 after Trump issued his executive order creating the Strategic Bitcoin Reserve.
Trump’s orders fell short of the market’s expectations, as they only confirmed that Bitcoin held by US government will not be sold. They did not give any clear timeframe as to how soon it planned to acquire additional Bitcoins or what amount it wanted to purchase.
Related: Bitcoin price metric that called 2020 bull run says $69K new bottom
Timothy Peterson said that after Bitcoin’s steep price decline, he believes that the cryptocurrency will likely bounce back between $85,000-$95,000 within six to 12 weeks. “slowly” Trending upwards to $100,000 again.
Bitwise Invest Chief Executive Hunter Horsley doesn’t seem to be too concerned about the Bitcoin drop in price following the Strategic Bitcoin Reserve Announcement. Horsley points out that a drop similar occurred when spot Bitcoin ETFs were launched in January of 2024.
“Bitcoin sold off on Bitcoin ETFs launching. And then went on to a new ATH. Traders gonna trade,” Horsley said Post 7 March X.
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Source: cointelegraph.com
