Analyst: Bitcoin price may reach $116,000 by the end of July

ChainCatcher news, according to Cointelegraph, cryptocurrency analysts predict that the price of Bitcoin could reach $116,000 by the end of July, mainly driven by three macro factors: continuous inflows into the U.S. Bitcoin ETF, uncertainty in Federal Reserve policies, and a continuous 98-day decrease in Bitcoin supply on exchanges.

10x Research's head of research, Markus Thielen, pointed out that Bitcoin is testing the upper limit of the consolidation range, with the current price around $109,000, just a 6.45% increase away from the predicted target.