Bitcoin Consolidation Expected Amid Possible July ATH
- Michael Harvey predicts Bitcoin may pause but could hit an ATH.
- Institutional ETF inflows needed for price surge.
- Retail demand and treasury buying are critical for new highs.
The pause suggests a momentary consolidation after recent gains, with broader implications for institutional and retail investor strategies.
ETF Inflows Could Propel Bitcoin to New Heights
Michael Harvey, Head of Franchise Trading at Galaxy Digital, suggests Bitcoin’s current movement echoes previous patterns. Recent ETF inflows may solidify a potential July peak.
Consolidation around current prices is my base case given the large rally and new ATH. I do expect BTC to trend higher into the year-end, but pausing here for air would be realistic. I think the best case BTC price into month end is a continued slow melt-up. — Michael Harvey, Head of Franchise Trading, Galaxy Digital
Robert Kiyosaki‘s insights highlight cautious optimism for Bitcoin’s potential while advising small-scale accumulation for newcomers amid market volatility.
Rising Institutional Interest Drives Forecast
Institutional interest, reflected by ETF inflows, impacts Bitcoin’s potential for a new ATH. Market participants are attentive to shifts in treasury allocations.
Retail onboarding has shown an increase, evidenced by Coinbase’s rising app store ranking, signaling growing consumer interest despite subdued searches.
Bitcoin’s Historical Patterns Indicate Future Potential
Historically, Bitcoin consolidates following ATH before potential upward momentum resumes, provided demand remains robust through institutional and retail channels.
With historical data highlighting market resilience, prospects for another ATH could materialize if liquidity influx continues alongside increased investor confidence.
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