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Why Bitcoin’s Big Breakout Is Just Around The Corner, According To These Experts

Source Bitcoinist

Bitcoin’s price stability below $70,000 over the past months has sparked various speculations and analyses among traders and investors.

While the crypto community grapples with the cryptocurrency’s lackluster performance, notable crypto figures like Samson Mow and Adam Back have presented their perspectives, offering a hopeful outlook for the future of Bitcoin’s valuation.

Analyzing The Factors Behind BTC Price Behavior

Samson Mow, a staunch Bitcoin advocate and CEO of Jan3, has publicly forecasted a dramatic upsurge in Bitcoin’s price despite its recent period of price stagnation.

In sync with Mow’s optimism, Adam Back, a prominent figure in the cryptocurrency sphere with historical ties to Bitcoin’s enigmatic creator, Satoshi Nakamoto, has suggested that the current suppression in Bitcoin prices may be attributed to urgent selling by certain market participants needing liquidity.

According to Adam Back, these sellers are depleting their Bitcoin reserves, hinting at a potential market rebound once these assets are fully liquidated.

This perspective is supported by data indicating active basis trading where Bitcoin is collateral rather than BTC ETFs. Additionally, the ongoing purchase activities through CME futures suggest an underlying demand waiting to influence market prices.

Echoing Back’s analysis, Mow highlighted the increase in short interest among newer traders, which he considers unsustainable. He anticipates that these short positions will likely lead to significant liquidations, which could catalyze a sharp price increase.

This matches with my analysis too. With so many left bell curve traders popping up to confidently explain “the short interest increase is just a cash and carry trade,” it’s no wonder why we constantly see so many liquidations. Like the carry trade didn’t exist before this week.… https://t.co/lDIxALdLPI

— Samson Mow (@Excellion) June 9, 2024

Mow metaphorically described Bitcoin’s current price level as a “compressed coil,” poised to explode upward, reflecting a strong rebound that could disrupt the market’s temporary stasis.

Global Economic Indicators and Rate Cuts: Their Impact on Bitcoin’s Market Stability

In the broader context, the crypto market is witnessing cautious movements, as seen with BTC’s slight uptick of 0.9% over the past week, maintaining its consolidation below the $70,000 mark.

Bitcoin (BTC) price chart on TradingView

This cautious trend is mirrored in global economic reactions. Recent US non-farm payroll data inducing a “risk-off” sentiment among investors has led to a shift away from riskier assets amidst prevailing economic uncertainties.

As central banks worldwide, including the European Central Bank and the Bank of Canada, implement rate cuts, the investment landscape is adjusting to these changes, with implications for cryptocurrency markets, particularly BTC.

Singapore-based crypto trading firm QCP Capital notes this as a “buy the dip” moment, recognizing potential bullish signals amidst the market’s fluctuations.

Featured image created with DALL-E, Chart from TradingView

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Author Mitrade

2 hours ago

Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

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