Bitcoin could climb to $116,000 by the end of this month as three macroeconomic factors turn favorable for the asset, according to a crypto analyst . 10x Research head of research Markus Thielen told Cointelegraph that “I think $116,000 is possible,” after highlighting three macro factors that could help bolster Bitcoin's price this month in a report on Thursday . Bitcoin is testing the top of the range, and more upside is possible. “Bitcoin is testing the top of its consolidation range, just as a perfect storm of macro catalysts begins to build,” he added, pointing to the strong uptick in spot Bitcoin exchange-traded fund (ETF) inflows, US Federal Reserve uncertainty, and the rapid decline of Bitcoin supply on crypto exchanges . A move for Bitcoin to $116,000 represents a 6.45% jump from its current price of $108,990 and a 3.60% jump from its current all-time high of $111,970, according to CoinMarketCap data . Bitcoin is up 0.69% over the past seven days . He pointed to strong inflows into spot Bitcoin ETFs, which experienced their first net outflow day on Wednesday after 15 consecutive days of inflows, as a bullish indicator for Bitcoin . “These flows are increasingly outpacing price action, signaling institutional demand driven more by macro concerns than short-term momentum” . Thielen said that the political pressure on the US Federal Reserve from US President Donald Trump may have been the reason for the surge in inflows . In April, Trump criticized Fed Chair Jerome Powell, saying that his termination “can't come fast enough.” “This rhetoric may have been a catalyst for the third wave of Bitcoin ETF accumulation,” Thielen said . Since May 1, US-based spot Bitcoin ETFs have recorded $9.91 billion in inflows, approximately 20% of their total inflows since launching in January 2024, according to Farside data . A new Fed chair may be “more inclined toward rate cuts”. Thielen speculated that Trump might push for a new Fed chair who could be more inclined toward rate cuts . Other forecasts suggest that the average price in 2025 is expected to be around $125,027, potentially reaching $266,129 by 2030, driven by mainstream financial integration and adoption in emerging markets, although regulatory uncertainty, energy consumption concerns, and competition from other digital assets could slow its growth . From a technical standpoint, Bitcoin continues to consolidate between $104,000 and $110,000, forming a potential accumulation pattern . If BTC sustains support above $106,000 and volume picks up, a move toward $113,000, followed by $120,000, is on the cards . However, failure to maintain the current range could expose BTC to a minor pullback toward $101,500 . Some forecasts suggest Bitcoin could reach $115,000 in July 2025 based on moderate scenarios, while others project potential ranges between $121-135K for the quarter . Macro conditions keep Bitcoin boxed between $100k and $110k, bulls awaiting catalyst . The Fed announcing rate cuts on the horizon could drive Bitcoin above the $110,000, starting a new upside momentum .
Bitcoin could climb to $116,000 by the end of July as three macroeconomic factors turn favorable for the asset, according to a crypto analyst. Strong inflows into spot Bitcoin ETFs, US Federal Reserve uncertainty, and the rapid decline of Bitcoin supply on crypto exchanges are the catalysts.
