After dropping to $100,500 on June 6th, the Bitcoin price has staged a strong comeback, trading at $108,600 on Monday.
Altcoins are mirroring BTC’s bullish strength, with Fartcoin, SPX6900 and Bittensor among the top performers.
With US-China trade talks now ongoing in London, markets are anticipating a de-escalation in tariff war risks, paving the way for a renewed risk-on environment. Another cool CPI inflation data this Wednesday would also significantly improve the macroeconomic outlook.
Bitcoin price predictions from prominent analysts have turned distinctly bullish, with many now forecasting a surge to $120K as early as June.
Bitcoin Price Recovers Ahead of Wednesday’s CPI
The start of US-China trade talks in London has significantly improved market sentiment, fueling hopes of a resolution to tariff tensions and a broader return to risk-on appetite.
Following the first day of talks, the US Treasury Secretary Scott Bessent revealed that they had a “good meeting”, while Commerce Secretary Howard Lutnick said that the discussions were “fruitful”.
The Bitcoin price broke through the $108k resistance in the aftermath, trading as high as $108,800 late on Monday.
All eyes are now on Wednesday’s CPI data, with markets pricing in a headline inflation print of 2.5%, a slight uptick from the previous 2.3% reading.
If the actual CPI data comes in below market consensus, it could trigger a sharp bounce in prices as investors price in a more dovish Fed and renewed risk-on sentiment.
Thursday’s Producer Price Index (PPI) could also result in volatility, especially if it confirms the CPI’s bullish thesis.
Bitcoin Price Forecast For June – Is $125k In The Cards?
The Bitcoin price has reclaimed the $108k support and is headed for a retest of the $110k resistance. Whether it secures a bullish continuation would depend largely on the upcoming CPI and PPI data.
However, prominent analysts remain confident that the largest cryptocurrency will hit $120k for the first time in its history in June.
For starters, the Global M2 money supply, which has a strong correlation to BTC, continues to soar. GMI’s Julian Bittel’s Global M2 vs BTC model now shows that Bitcoin could hit $160,000 in the coming months.
Similarly, Nebraskangooner highlights that the Bitcoin price has maintained its bullish market structure in the weekly timeframe, which indicates a strong possibility of $120k in the coming weeks.
Popular trader Crypto General anticipates that Bitcoin is on track to hit $125,000 in the coming weeks.
Best Cryptos To Buy In The Bitcoin Ecosystem
Bitcoin remains one of the best cryptos to buy now, despite its high market capitalization, this late in the cycle. As previously mentioned, the Global M2 money supply indicates that it is headed to $160k this year.
This is also highly bullish for top-quality coins in the Bitcoin ecosystem.
For instance, a new Bitcoin layer-2 coin, Bitcoin Hyper (HYPER), is in high demand by the whales.
Just today, on Monday, a whale invested nearly $125k into HYPER in three separate transactions.
Behind such heavy whale buys, the Bitcoin Hyper presale has already raised nearly $1 million in its ICO in short order.
The project’s USP is certainly attracting smart money investors. With its integration of the Solana Virtual Machine, Bitcoin Hyper is finally bringing exceptional performance and exponential scalability to the Bitcoin ecosystem, without compromising its decentralization or security.
While remaining an excellent store of value, Bitcoin can soon become the base layer of choice for new DeFi architecture, including payments, meme coins and dApps.
Besides its cutting-edge utility, HYPER boasts strong fundamentals, including smart contract audits, community-centric tokenomics and lucrative staking rewards. Early presale buyers are currently earning staking rewards of over 700% per annum.
Prominent crypto influencers are already bullish on HYPER’s upside potential, with some even calling it the next 100x crypto.
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