[Analysis] Bitcoin may hit new highs in July… "Institutional buying and weak jobs data are key"
Suehyeon Lee
Summary
- Bitfinex analysts projected that if ETF inflows and institutional interest persist, Bitcoin could hit an all-time high in early July.
- U.S. spot Bitcoin ETFs logged net inflows of approximately $5.24 billion in May.
- With the Crypto Fear and Greed Index at 57, remaining in the greed stage, investor sentiment is still strong.
Predictions have emerged that Bitcoin could reach an all-time high in early July.
On the 5th (local time), Bitfinex analysts told Cointelegraph, "If ETF inflows and institutional interest remain strong, Bitcoin could soar above $115,000 in early July."
Previously, Bitcoin surpassed $111,000 on the 22nd of last month, but is currently trading around $105,000 after a correction. While there are some concerns about this correction, investors are still considered optimistic.
In fact, according to Cointelegraph, U.S. spot Bitcoin ETFs recorded net inflows of about $5.24 billion in May, and market sentiment remains bullish, with the Crypto Fear and Greed Index currently at 57, keeping the greed stage.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
