bitcoin May Reach New Highs by July, Analysts Predict
Bitcoin (BTC) has surged over 25% since April, currently hovering near $106,000. Analysts at Matrixport believe this upward trend could continue, possibly leading to a new all-time high.
Several factors are driving this optimism. The upcoming FTX creditor distributions, expected to start around May 30, could inject $5 billion in stablecoins into the market. Much of this could flow back into crypto, boosting momentum in June. This influx, combined with strong liquidity from Bitcoin ETFs and stablecoin activity, paints a positive picture.
Matrixport highlights the favorable market conditions until July. The firm sees a “favorable window” with multiple positive catalysts. The FTX creditor distributions, likely totaling $5 billion, are a key factor. A meaningful portion of these funds may re-enter the crypto market, enhancing June’s momentum.
Continued inflows into Bitcoin ETFs also play a crucial role. These distributions, along with ETF investments, could push Bitcoin higher.
Political developments, including potential deregulation and a focus on inbound investments by U.S. President Donald Trump, could also bolster Bitcoin’s price. Matrixport remains optimistic, especially as Bitcoin broke above $84,500.
With these factors aligning, the next few months could be crucial for Bitcoin’s trajectory.
