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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-predict-bitcoin-will-reach-new-all-time-high/" data-wpel-link="internal">Analysts Predict Bitcoin Will Reach New All-Time High</a> 
Bitcoin may have closed the week below $70,000, but analysts continue to target an all-time high in the not-so-distant <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">future</a>. 10x Research CEO Markus Thielen stated in a note dated June 7 that Bitcoin reaching a new all-time high is imminent. 
<h2 class="p1" style="text-align: justify" id="ath-expected-for-bitcoin">ATH Expected for Bitcoin!</h2> 
Thielen referred to the beginning of a global central bank easing cycle, confirmed by rate cuts in Canada and Europe this week, and expressed their bullish outlook with the following statement: 
<blockquote> 
 “With weakening growth, employment, and consumer spending in the US, inflation slowing down is imminent.” 
</blockquote> 
US employment data was mixed; the unemployment rate rose to 4.0%, but the number of jobs added was a positive surprise. Bitcoin price increased by only 3.1% despite the $4.8 billion inflow last week, falling short of the 5.8% rise predicted by regression analysis. 
Thielen provided a detailed analysis of Bitcoin price movements related to capital inflows, suggesting that approximately $13 billion in new inflows would be needed to reach $83,000. He stated that a break above the $71,600 trend line would result in more upward buying, but the $13 billion inflow requires considerable commitment and added: 
<blockquote> 
 “We still think this is possible due to a weaker US employment <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> and next week’s lower inflation data creating a macro backdrop for all-time highs.” 
</blockquote> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-bitcoin-front">What’s Happening on the Bitcoin Front?</h2> 
Capriole Fund founder Charles Edwards said long-term sales are hindering the price rise. Bitcoin was trading at $69,420 and found support in the Asian session on Sunday morning after a 2.5% drop in recent days. Further analysis could see the price drop to the $67,500 support levels, but Bitcoin needs to surpass $71,500 to see more upward momentum. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-360611 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/capriole.jpg" alt="" width="1200" height="676"> 
Thielen was not as optimistic about <a href="https://en.coin-turk.com/ethereum-sees-surge-in-transactions-despite-nft-and-defi-declines/" data-wpel-link="internal">Ethereum</a>, stating that they were fundamentally less optimistic about Ethereum and expected the ETF process to disappoint Ethereum demand. Ethereum fell to $3,640 over the weekend, breaking the key support at $3,725 but managed to reclaim the $3,700 level during weekend trading. Broadly, crypto markets remain in their range-bound channels and generally stay in the accumulation zone following the Bitcoin halving event. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-360610" src="https://coin-turk.com/wp-content/uploads/2024/06/10x.png" alt="" width="500" height="536"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-predict-bitcoin-will-reach-new-all-time-high/" data-wpel-link="internal">Analysts Predict Bitcoin Will Reach New All-Time High</a></h5>

Analysts Predict Bitcoin Will Reach New All-Time High

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