Analyst: Bitcoin Price Could Reach $116,000 by the End of July

According to ChainCatcher, citing a report from Cointelegraph, cryptocurrency analysts predict that the price of Bitcoin could reach $116,000 by the end of July, mainly driven by three major macro factors: continued capital inflows into US Bitcoin ETFs, uncertainty surrounding Federal Reserve policy, and a 98-day consecutive decline in Bitcoin supply on exchanges.

Markus Thielen, Head of Research at 10x Research, noted that Bitcoin is currently testing the upper limit of its consolidation range, with the current price around $109,000, requiring only a 6.45% increase to reach the predicted target.