Bitcoin Dominance Climbs Higher In June – Institutions Absorb Speculative BTC Demand
Main Idea
Bitcoin's dominance in the crypto market is increasing, with institutional interest growing and analysts predicting potential price surges, while BTC consolidates below its all-time high.
Key Points
1. Bitcoin's share of the total crypto market cap rose by 1% in June, reaching a new local high for the current cycle.
2. Analysts predict Bitcoin could surge past $150,000, with some bullish forecasts exceeding $200,000, but it must first break decisively above its all-time high.
3. BTC is consolidating between $103,600 support and $109,300 resistance, with strong selling pressure near the top.
4. The 50-day, 100-day, and 200-day simple moving averages indicate a bullish trend, with the 50-day SMA providing dynamic support near $95,000–$96,000.
5. Institutional interest in Bitcoin is growing, with public equities like MicroStrategy and Metaplanet offering leveraged exposure to BTC.
Description
Bitcoin is once again testing critical resistance levels, positioning itself for a potential breakout into uncharted territory. After weeks of consolidation between $105,000 and $109,000, BTC is flirting with an impulsive expansion that could carry the broader crypto market into a new phase of growth. The setup is drawing increasing attention from analysts and investors, many of whom believe a decisive move is imminent. Top analyst Axel Adler shared key insights showing that Bitcoin’s share of t...
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