Analyst Identifies Key Level for Bitcoin’s Next Surge

If the leading cryptocurrency maintains its course within the $103,000-$105,000 range, conditions may be ripe for a new surge towards $115,000. This forecast was shared with The Block by Rachel Lucas of BTC Markets.

According to her, the price is at a “pivot point” from both a psychological and technical perspective. The current area could either extend the success of the bull run or necessitate a pause in its development.

“RSI and MACD show signs of weakening bullish momentum, at least temporarily. Traders are acting cautiously, unsure if this is the start of a short-term peak or merely a pause before the next growth phase. Long-term prospects remain optimistic — there is growing confidence that we may be in the early stages of a new supercycle,” Lucas clarified.

In her assessment, if the price breaks below $103,000, targets for ending the correction will be $93,000 and $97,000.

Lucas also highlighted Bitcoin’s evolution from “digital gold” to a strategic hedge in a diversified macro portfolio.

“This shift has implications: it more closely ties the leading cryptocurrency to traditional financial markets and makes this instrument more sensitive to economic data, central bank comments, and geopolitical risks,” she explained.

The Bears Awaken

QCP Capital estimated the volume of digital asset liquidations at ~$1 billion over the past three days following the toughened rhetoric of U.S. President Donald Trump towards China. Against this backdrop, even the 34-day inflow into IBIT from BlackRock (-$430 million) halted, analysts added.

Asia Colour — 2 Jun 25

1/ Markets turned risk-off after the US expanded tech sanctions on China and doubled steel tariffs to 50%. Nearly $1B in crypto positions were liquidated, and @BlackRock‘s IBIT $BTC ETF broke its 34-day inflow streak with $430M in outflows.

— QCP (@QCPgroup) June 2, 2025

According to experts, the Bitcoin options market signals expectations of restrained price movement in the near term. Headlines related to trade policy will continue to dominate the agenda, but significant events may not occur until after July 8 (the end of Trump’s 90-day “soft tariffs” period).

“In the absence of new catalysts, the price may remain in the current range, with it being critically important to monitor the $100,000 and $110,000 levels, given their status as strikes with the highest open interest,” the specialists concluded.

As reported by Coinbase, a positive impact on the crypto market’s dynamics is expected from the $5 billion reimbursement to FTX creditors.

Previously, Derive founder Nick Forster indicated expectations of a “healthy” pause in the digital gold’s price dynamics before the bull run resumes.

Before that, Bernstein identified institutional purchases as one of the five key factors for Bitcoin’s continued growth.