Quickly Monitor a Bitcoin Price Rise: Experts Identify 3 Catalysts for Increase

The cryptocurrency market is currently experiencing increased volatility, especially as Bitcoin fluctuates sharply. Recently, the price fell below 99,000 dollars before bouncing back to over 106,000 dollars in just 24 hours. Establishing Bitcoin Price Increase Amid Geopolitical Tensions In a recent post on the social media platform X (formerly known as Twitter), analyst Cyclop suggested that despite the current market conditions, BTC still shows a bullish trend reminiscent of the patterns seen in March 2020. Analysts note that Bitcoin appears to be reflecting its past movements, with a short fall followed by a price bounce back for both BTC and altcoins. Cyclop pointed out the similarities between the ongoing geopolitical tensions involving Israel, Iran, and the United States and the market dynamics observed during the COVID-19 crash. Although acknowledging that geopolitical conflicts and global market panic are distinct issues, he pointed out that both scenarios lead to a strong but temporary sell-off, followed by a quick bounce back. According to Cyclop, the current market context shows similar characteristics: widespread fear, risk-averse sentiment among investors, and global instability. He emphasized the importance of understanding when to address these tensions, arguing that to have a strong price increase, there needs to be some bullish catalysts to alleviate market instability. He identified three main factors: the ability to cut interest rates, a ceasefire between Iran and Israel, and Bitcoin holding key support levels. 120,000 USD by the End of the Year? Recently, a ceasefire was declared after 12 days of intense conflict between Iran and Israel. In a notable public statement, President Donald Trump criticized both nations, stating that their actions were a mistake. This relatively calm period is seen as a positive indicator for the market. Cyclop emphasizes that maintaining the level of 100,000 dollars for Bitcoin is very important and this cryptocurrency has successfully broken through the barrier of 106,000 dollars, signaling further growth. Moreover, Ethereum (ETH) has also shown signs of a quick bounce back along with Bitcoin as its price approaches the important level of 2,500 dollars. Cyclop advises investors not to try to perfectly time the market, as reversals can often create feelings of instability and uncertainty. Looking ahead, Cyclop predicts that Bitcoin will have a consolidation phase in the range of 102,000 to 106,000 dollars, with expectations of a breakout that could push BTC to an all-time high of around 120,000 dollars in November or December of this year. As of the time of writing this article, Bitcoin is trading at 106,500 dollars per coin. Despite the ongoing economic instability, the leading cryptocurrency in the market has seen a 75% increase to date. However, the price of Bitcoin is still nearly 5% lower than the record high of 111,800 dollars reached on May 23. The most important resistance level is 110,200 dollars, which has twice prevented Bitcoin from exploring new price levels.