Bitcoin

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<p>Crypto analyst Dippy has laid a bullish narrative for the <a href="https://bitcoinist.com/bitcoin-analyst-upside-btc-price/" rel="nofollow">Bitcoin future trajectory</a>, suggesting that the flagship crypto could soon hit a <a href="https://bitcoinist.com/bitcoin-breaks-through-69000-setting-new-record/" rel="nofollow">new all-time high (ATH)</a>. This comes despite <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-crash-10-69000/">Bitcoin’s recent drop below $68,000</a>.&nbsp;&nbsp;</p> 
<h2 id="bitcoin-could-experience-a-massive-pump-above-73-000">Bitcoin Could Experience A Massive Pump Above $73,000</h2> 
<p>Dippy suggested in an X (formerly Twitter) <a href="https://x.com/dippy_eth/status/1800210097727009031" rel="nofollow">post</a> that Bitcoin could enjoy a price pump once it reaches the <a href="https://bitcoinist.com/bitcoin-is-poised-to-explode-towards-11000-after-tapping-key-liquidity-region/" rel="nofollow">liquidity zone</a> around $73,000. He noted that many short traders have their stop losses or liquidation levels around that price level, which could be the catalyst for this price pump since <a href="https://bitcoinist.com/crypto-futures-liquidations-150m-bitcoin-plummets/" rel="nofollow">liquidations of short positions</a> can easily flush out the bears.</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-615435" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-1-3.png?w=460&amp;resize=460%2C194" alt="Bitcoin 1" width="460" height="194" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-1-3.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-1-3.png?w=460&amp;resize=460%2C194 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
<p>The crypto analyst also outlined another scenario that could play out, which presents a bearish outlook for Bitcoin. He claimed that Bitcoin’s surge to this liquidity zone could be a fakeout to take liquidity and then move down again. However, Bitcoin experiencing that pump once it hits $73,000 looks more likely, considering that <a href="https://bitcoinist.com/bitcoin-block-800000-mined-btc-epic-achievements/" rel="nofollow">crypto analyst James Check</a> labeled the <a href="https://bitcoinist.com/bitcoin-breaks-through-69000-setting-new-record/" rel="nofollow">$73,000 price level</a> as where Bitcoin could enter an escape velocity phase.</p> 
<p><a href="https://www.newsbtc.com/news/bitcoin/2024-bitcoin-preview-crypto-analyst-weighs-in-on-btc-price-action/">Crypto analyst Adrian Zduńczyk</a> also suggested that Bitcoin would likely turn that $73,000 zone into support if it climbed to that level. He noted that Bitcoin has continued to consolidate inside its current ATH area for 14 weeks now, which is significant considering that this was an area where it had shown weakness before. Zduńczyk claims this is a “trend-promoting behavior” as resistance becomes the new support, and Bitcoin will continue to go higher.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-615436" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-2-2.png?w=460&amp;resize=460%2C289" alt="Bitcoin 2" width="460" height="289" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-2-2.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-2-2.png?w=460&amp;resize=460%2C289 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
<p>Meanwhile, <a href="https://bitcoinist.com/dogecoin-doge-price-can-reach-1/" rel="nofollow">crypto analyst Mikybull Crypto</a> suggested that Bitcoin’s long-term consolidation in this range might be good, <a href="https://x.com/MikybullCrypto/status/1799759504084742412" rel="nofollow">stating</a> that the “longer the consolidation, the higher it moves when it breaks out.” He also remarked that Bitcoin’s bullish divergence also indicates “strong strength” for the flagship crypto. Mikybull Crypto expects Bitcoin to rise to $85,000 and then $110,000 when this long-awaited breakout happens.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-615437" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-3-1.png?w=460&amp;resize=460%2C261" alt="Bitcoin 3" width="460" height="261" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-3-1.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/06/Bitcoin-3-1.png?w=460&amp;resize=460%2C261 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
<p><a href="https://bitcoinist.com/bitcoin-danger-zone-in-2-days-crypto-expert-explains-what-this-means/" rel="nofollow">Crypto analyst Rekt Capital</a> also noted that it is only a matter of time before the breakout happens. He had previously stated that a successful breakout for Bitcoin above the $70,000 range would send it into the ‘parabolic uptrend’ phase of this <a href="https://bitcoinist.com/bitcoin-bull-market-glassnode/" rel="nofollow">market cycle</a>.&nbsp;</p> 
<h2 id="why-btc-dropped-below-68-000">Why BTC Dropped Below $68,000</h2> 
<p><a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-crash-10-69000/">Bitcoin dropped below $68,000</a> following the significant outflows the US <a href="https://bitcoinist.com/third-largest-us-bank-spot-bitcoin-etfs/" rel="nofollow">Spot Bitcoin ETFs</a> recorded on June 10. <a href="https://x.com/FarsideUK/status/1800374384068096176" rel="nofollow">Data</a> from Farside Investors shows these funds saw a cumulative total of $64.9 million in outflows, the first time these Spot Bitcoin ETFs recorded daily outflows since May 23.&nbsp;&nbsp;</p> 
<p>Investors are believed to be waiting on the sidelines ahead of the <a href="https://bitcoinist.com/us-cpi-comes-in-hot-what-this-means-bitcoin-crypto/" rel="nofollow">US Consumer Price Index (CPI)</a> inflation data and the <a href="https://bitcoinist.com/buy-bitcoin-dip-federal-reserve-turns-dovish/" rel="nofollow">US Federal Reserve</a> interest rate decision on June 12. A lot of volatility is expected in the crypto market ahead of these events, which could determine the future trajectory of crypto assets.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/EmMfIc2x/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1576">

Bitcoin Turns Weakness Into Strength: Analyst Identifies Major Liquidity Zone At $73,000

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