Bitcoin (BTC) may soon re-approach its historical high of $111,970, but crypto analysts indicate that the asset lacks substantial fundamental support to break through this level significantly.
Analysts at Bitfinex stated in a report on Monday: "The risk of a short-term pullback continues to increase—especially in the absence of strong catalysts to drive Bitcoin decisively past the current historical high."
They noted: "Without strong macro or structural bullish catalysts, Bitcoin is vulnerable to short-term pullbacks, particularly when long-term holders choose to distribute as prices strengthen."
Analysts mentioned that Bitcoin holders now face a critical decision on whether to sell.
They added: "Market participants holding Bitcoin into the first quarter of 2025, as well as those who held on when prices fell below $80,000, are now being tested as prices consolidate near historical high levels."
In the first quarter of 2025, Bitcoin hit a low of $78,513. According to CoinMarketCap data, at the time of this article's publication, Bitcoin's price was $109,519, having risen 39% just three months later, which has resulted in substantial profits for investors who bought at the low.
Analysts stated that the decisions of long-term holders "will help define the next structural phase of the market." They warned that if long-term holders of Bitcoin suddenly sell, it could lead the market into a prolonged consolidation phase.
It is not uncommon for Bitcoin to enter a consolidation phase after reaching new historical highs. In March 2024, Bitcoin reached a historical high of $73,679, then entered a consolidation phase, fluctuating around the $20,000 range until Donald Trump was elected President of the United States in November.
Although Bitcoin is only 2.2% away from its historical high of $111,970, not all traders are optimistic about this prospect. According to CoinGlass, if Bitcoin reaches that price, approximately $1.08 billion in short positions would face liquidation risk.
Analysts are currently focusing on macro events, such as the upcoming interest rate decision by the Federal Reserve and developments related to President Donald Trump's tariff policies.
The Federal Reserve is set to announce its next interest rate decision on June 18, a key event for market participants looking for macroeconomic signals.
A rate cut is seen as a positive indicator for risk assets like Bitcoin and other cryptocurrencies.
Meanwhile, Swyftx Chief Analyst Pav Hundal recently told Cointelegraph that the ongoing uncertainty surrounding President Donald Trump's tariffs poses the biggest risk for large bets on Bitcoin in the next two months.
Hundal stated: "The biggest threat to bulls right now is that there are no changes in the next two months, and we are just stuck in an endless cycle of tariff ultimatums."
This article does not contain investment advice or recommendations. Any investment and trading activities involve risks, and readers should conduct their own research before making decisions.
Related: Bitcoin and U.S. crypto stocks rise as more companies plan to buy BTC
Original article: “Analysts: Bitcoin (BTC) Lacks Strong Catalysts to Break Through $112,000 Historical High”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
