Bitcoin Faces Consolidation as price nears $107,000
Bitcoin’s price is hovering around $107,000. This suggests a period of consolidation after a positive run from April’s low of $84,000. Bitfinex analysts predict this trend will continue into Q3 2025.
The Bitfinex Alpha report, released on June 30, highlights the struggle for bitcoin to break above $110,000. Analysts believe this indicates a potential consolidation phase. On-chain and derivatives activity has slowed down, despite bulls recovering from recent lows.
Geopolitical tensions, like the Israel-Iran conflict, and macroeconomic factors have influenced market action. Historically, Bitcoin sees an average 6% gain in Q3. However, Bitfinex Alpha analysts expect range-bound trading starting in July.
Without strong upside momentum, Bitcoin may face challenges breaking above $110,000.
Key support levels include $100,000 and $98,700. Bulls aim for a breakout above $110,000,but Q3 typically sees low volatility. A catalyst, such as macro relief or strong ETF flows, is needed for new all-time highs.
