Bitcoin Price Outlook: Potential Rally to $115K or Correction to $93K?

Q: Support Levels and Potential Price Paths

Lucas highlighted that price support holds firm near $103,000, with a stronger base expected around $97,600. She outlined two main scenarios for Bitcoin’s near-term movement: if Bitcoin maintains its position above the $103,000 to $105,000 range, there is potential for a renewed rally toward $115,000. Conversely, falling below $103,000 could trigger a deeper correction, with prices potentially dropping to the $93,000 to $97,000 range. Importantly, Lucas emphasized that such a correction would not necessarily signal the end of Bitcoin’s broader uptrend, but rather a pause allowing for further growth.

Published by Ecem EFE

2 June 2025, 11:42 published

Bitcoin Price Faces Key Support at $103K — What’s Next for the Market?

Bitcoin price currently sits at a psychological and technical pivot point, according to industry analysts, potentially shaping the trajectory of the next bull run. Rachael Lucas, crypto analyst at BTC Markets, noted that momentum indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest the recent strong bullish momentum may be slowing, at least temporarily. Yet, the longer-term outlook remains cautiously optimistic, with growing conviction that Bitcoin might be entering a new super cycle.

Support Levels and Potential Price Paths

Lucas highlighted that price support holds firm near $103,000, with a stronger base expected around $97,600. She outlined two main scenarios for Bitcoin’s near-term movement: if Bitcoin maintains its position above the $103,000 to $105,000 range, there is potential for a renewed rally toward $115,000. Conversely, falling below $103,000 could trigger a deeper correction, with prices potentially dropping to the $93,000 to $97,000 range. Importantly, Lucas emphasized that such a correction would not necessarily signal the end of Bitcoin’s broader uptrend, but rather a pause allowing for further growth.

Institutional Demand Drives Bitcoin Dominance Over Altcoins

The current crypto market momentum is heavily influenced by institutional investments focused on Bitcoin. According to Min Jung, research analyst at Presto Research, corporate investors like Strategy, Metaplanet, and Twenty One have been the main drivers behind recent demand, overshadowing retail investors and leaving major altcoins underperforming. As a result, Bitcoin dominance has approached cycle highs, with most corporate treasuries concentrating on Bitcoin rather than other cryptocurrencies like Ether, XRP, or Solana.

Bitcoin’s Evolving Role in Diversified Portfolios

Lucas further explained that Bitcoin’s narrative has evolved beyond being “digital gold” to serving as a strategic hedge alongside commodities and currency exposures within diversified macro portfolios. This shift has linked Bitcoin more closely to traditional financial markets, increasing its sensitivity to economic data, central bank policies, and geopolitical risks.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.