According to a recent survey on X, there is a significant divide among cryptocurrency users regarding whether Bitcoin will soar to a new all-time high or fall below the critical $100,000 mark amid the overall market's consolidation.
Cryptocurrency experts were asked about the next movement of Bitcoin (BTC)—$94,000 or $114,000—and the voting results were nearly split. According to a survey initiated by crypto analyst Matthew Hyland on Thursday, which gathered over 1,300 votes, 50.2% predicted a drop to $94,000, while 49.8% expected a rise to $114,000.
Bitcoin is currently trading at $104,522. A drop to $94,000 would signify a 10% correction, while a rise to $114,000 would mean an approximate 9% increase, setting a new all-time high, surpassing the previous peak of $111,940 reached on May 22, according to CoinMarketCap data.
Since May 6, Bitcoin has not touched the $94,000 level. Shortly after, it broke the $100,000 mark again on May 8, marking the first time in three months.
This all occurred after Bitcoin briefly returned to $110,000 on June 11, reigniting hopes for new highs. However, escalating geopolitical tensions—triggered by Israel's airstrikes on Iran last Thursday—led Bitcoin to drop to $103,000.
Since then, tensions have only increased, with the U.S. President calling for Iran's "unconditional surrender" and threatening Iranian Supreme Leader Ayatollah Ali Khamenei.
The ongoing sideways price movement has weakened overall market sentiment in the crypto space. Experts noted in an update on June 20 that the crypto fear and greed index flipped from "greed" back to "neutral," scoring 54 (out of 100).
The S&P 500 index is also flat, down 0.48% over the past five trading days as of June 18, according to Google Finance data.
Meanwhile, shares of Strategy (MSTR) fell 2.43% during the same period, down 10.74% over the past 30 days.
However, U.S. spot Bitcoin exchange-traded funds continue to attract inflows. On Wednesday, these funds recorded $388.3 million in inflows, marking the eighth consecutive day of new money entering.
Saylor stated on June 10 that the Bitcoin bear market would not return, but other analysts are less certain. Crypto trader Rekt Capital recently remarked, "It is very likely that a bear market will follow this bull run."
Some crypto analysts are betting that Bitcoin will trade in the $130,000-$135,000 range in the third quarter.
BitMEX co-founder Arthur Hayes is confident that Bitcoin will reach $250,000 by the end of this year.
Related: Santiment: Bitcoin (BTC) holders are divided on the next move, market sentiment falls back into "extreme fear."
This article does not contain any investment advice or recommendations. Any investment and trading activities involve risks, and readers should conduct their own research before making decisions.
Original article: “Bitcoin (BTC) holders divided on the next move in Bitcoin's consolidation: $94,000 or $114,000”
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