Shares in Norwegian Block Exchange jumped 138% on June 2 after the crypto exchange said it bought 6 Bitcoin, and planned to buy many more.

Norwegian crypto platform spikes 138% on Bitcoin treasury plan

Despite the recent rally to a new all-time high (ATH) of $111,900, crypto 
analysts have warned that the Bitcoin price could still witness a massive 
crash that will send it below $100,000. These analysts highlighted 
fundamentals and technicals that could spark this price crash. Analysts 
Highlight Why Bitcoin Price Could Still Crash Below $100,000 In a TradingView 
post, crypto analyst Stephan mentioned the geopolitical tensions, with the 
Russia-Ukraine conflict intensifying as one of the factors that could spark 
the Bitcoin price crash. He explained how this conflict could drive investors 
toward safe-haven assets, such as gold. The analyst also noted that Bitcoin 
ETFs experienced modest outflows last week. Related Reading: Bitcoin Price 
Crash To $104,000: What You Need To Know In June Stephan’s accompanying chart 
showed that the Bitcoin price could drop to as low as $96,765 as it retests 
the psychological $100,000 support level. Crypto analyst Nova also warned that 
Bitcoin could drop to $100,000 while providing a technical analysis of the 
flagship crypto’s current price action. In a TradingView post, Nova stated 
that if the Bitcoin price faces resistance around the $106,406 daily level and 
continues to correct, it could extend the decline to retest the 
psychologically important $100,000 mark. She further revealed that the 
Relative Strength Index (RSI) on the daily chart is at 53, trending downwards 
to the neutral level of 50. This indicates weakening bullish momentum. Nova 
also stated that the Moving Average Convergence Divergence (MACD) showed a 
bearish crossover last week. Meanwhile, the analyst alluded to the increasing 
red histogram bars below the baseline, which she claimed further signal a 
potential correction ahead. Her accompanying chart showed that the Bitcoin 
price could drop to $99,000 as it retests the $100,000 level. Crypto analyst 
Kevin Capital also called for caution at the current Bitcoin price level. He 
stated that nothing has changed for the flagship crypto and indicated that 
there was no need to be ultra bullish at this current level. The analyst 
earlier warned that things could get sketchy looking for BTC if it fails to 
reclaim $106,800 soon enough. BTC Could Still Rally To $135,000 This Year In 
an X post, crypto analyst Titan of Crypto raised the possibility of the 
Bitcoin price rallying to $135,000 this year. He noted that BTC has broken out 
of a right-angled descending broadening wedge, and if the price holds above 
the breakout zone, $135,000 becomes a realistic target. The analyst added that 
the structure is clean. Related Reading: Head And Shoulders Pattern Says 
Bitcoin Price Is Headed Down Toward $95,000 Crypto analyst Mikybull Crypto 
stated that the Bitcoin price is gearing up for a new all-time high. He 
further remarked that $120,000 remains a magnet for the flagship crypto in 
this market cycle. Meanwhile, veteran trader Peter Brandt predicted that BTC 
could reach $150,000 by late summer 2025. At the time of writing, the Bitcoin 
price is trading at around $105,400, down in the last 24 hours, according to 
data from CoinMarketCap. Featured image from Getty Images, chart from 
Tradingview.com

Bitcoin Price Crash Below $100,000 Still Possible: Analysts Issue Downtrend Warnings

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