"Bitcoin Likely to Rally Until June... ETF Inflows and FTX Creditor Repayment in Focus"
Summary
- Matrixport analyzed that Bitcoin is likely to see further gains until next month.
- ETF fund inflows and the FTX creditor compensation scheduled for the end of May could serve as catalysts for market liquidity.
- There is speculation that FTX's creditor repayment amounts to about $5 billion.
Bitcoin (BTC) is likely to continue its upward trend until next month, according to analysis.
On the 16th, cryptocurrency service provider Matrixport stated in a research report, "Bitcoin recently rebounded to around $106,000. Pro-market policy remarks by President Trump, continued AI investments by tech companies, and the resumption of corporate share buybacks are improving risk asset sentiment," adding, "Bitcoin could see further gains until June."
Matrixport noted, "Bitcoin showed a reversal after surpassing the technical baseline of $84,500 in mid-last month," and projected, "A further rally of about $20,000 is also possible."
Additionally, "The surge in TRUMP coin, ETF fund inflows, and the FTX creditor compensation scheduled for the end of May could serve as additional catalysts to boost market liquidity," it added. Industry observers speculate that FTX is preparing to repay creditors approximately $5 billion.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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