The NFT market has posted a modest recovery, with sales volume rising by 1.95% to $106.2 million. This marks a stabilization after last week&#8217;s drop. At press time, Bitcoin (BTC) price has surged to the $105,000 level. At the same…

NFT market makes a modest comeback as Bitcoin hits $105k level

The story has been somewhat the same for the price of Bitcoin over the past 
week, drifting further from its recently-notched all-time high of $111,814. On 
Friday, June 6, the premier cryptocurrency fell towards the $101,000 level, 
reflecting an uptick in the market volatility over the past few days. While 
the Bitcoin price has quickly recovered from this sudden downturn, there is 
still real concern about the market leader’s performance since reaching its 
record-high value. However, a new indicator suggests that the price of BTC 
might still have some time to run up to a new high. Analyst Predicts Four 
Months Of Opportunity For BTC In a recent post on the X platform, crypto 
expert Joao Wedson revealed that there might still be some degree of 
opportunity in the Bitcoin market. This observation is based on a model, which 
was accurate in predicting past all-time high prices for the world’s largest 
cryptocurrency by market capitalization. Related Reading: Traders Turn Bearish 
on Bitcoin Following High-Profile Political Tensions, Data Shows This 
revelation is based on the Max Intersect SMA Model (the blue line), which has 
accurately identified the tops of past Bitcoin cycles. According to Wedson’s 
post, this cycle top prediction model suggests that the price of BTC could 
still have around four months of upward growth potential — regardless of the 
volatility and market shakeout. As seen in the chart above, the price of 
Bitcoin reaches its current cycle peak whenever the Max Intersect SMA (simple 
moving average) hits the previous cycle top. In the 2021 cycle, the top 
prediction model hit the 2018 high of around $19,000 in November 2021, 
culminating in a then-all-time high of $69,000. Hence, when this Max Intersect 
SMA hits exactly $69,000 — the price top in the last cycle, that will 
represent the peak of this current cycle. Wedson also asserted that this model 
is pretty reliable, as it is backed by 200 tested algorithms. With this top 
prediction model still a bit off $69,000, the Bitcoin price might still be 
some months away from its peak. Bitcoin Price At A Glance As mentioned 
earlier, the price of BTC seems to be struggling after recently hitting its 
current all-time high above the $110,000 mark. This week’s performance must 
have tested investors’ patience as the flagship cryptocurrency mostly traded 
within a consolidation range. Related Reading: Ethereum Stabilizes After 
Market Drop – Key MA Reclaim Could Trigger A June Rally According to data from 
CoinGecko, the BTC price is up by a mere 0.2% in the last seven days. As of 
this writing, Bitcoin is valued at around $104,400, reflecting an over 2% 
price increase in the past 24 hours. Featured image from iStock, chart from 
TradingView

Crypto Analyst Says This Bitcoin Top Signal Hasn’t Gone Off Yet — What To Know

U.S. lawmakers are being pushed to act fast as calls intensify for a clear 
crypto regulatory framework that protects investors, fuels innovation, and 
reduces systemic risk. Former CFTC Chair Urges Swift Congressional Action on 
Crypto Oversight Former U.S. Commodity Futures Trading Commission (CFTC) 
Chairman Rostin Behnam testified on June 4 before the House Committee on […]

Former CFTC Chair Pushes Congress for Fast-Track Crypto Rules Before Chaos Hits

The Bitcoin price has continued to trade sideways since hitting a new all-time 
high (ATH) of $111,900 earlier in May. Amid the current price action, crypto 
analyst Decode has provided insights into whether the leading crypto will 
rally to $120,000 or drop below $100,000 next. Analyst Reveals What&#8217;s Next For 
The Bitcoin Price In an X post, Decode shared an accompanying chart in which 
he made an ABC wave analysis of the current Bitcoin price action. Based on his 
analysis, the leading crypto is expected to drop below $100,000 before it 
rallies to a new ATH of $120,000. The chart showed that BTC could fall to as 
low as $96,500 on the Wave B corrective move. Related Reading: Bitcoin Price 
Bounces Off Re-Accumulation Zone: Why $120,000 Could Be Next This drop to 
$96,500 is expected to happen this month. Once that is done, Decode predicts 
that the Bitcoin price could rally above $120,500 before the end of July. This 
will mark the Wave C impulsive move to the upside. This aligns with veteran 
trader Peter Brandt’s prediction that BTC could reach as high as $150,000 by 
late summer. However, crypto analyst KillaXBT has predicted that the Bitcoin 
price could hit the $120,000 target by mid-June. This coincides with the June 
FOMC meeting, which is scheduled for June 17 and 18. A Fed rate cut could 
serve as the catalyst for such a parabolic rally from the current BTC price 
level. According to CME FedWatch data, there is a 97.4% chance that the Fed 
would keep interest rates unchanged. As such, market participants aren’t 
expecting a rate cut, which is why the Bitcoin price could pump massively if 
Jerome Powell and the FOMC were to surprise everyone. Moreover, US President 
Donald Trump yesterday urged the Fed to cut rates by a full point. A Breakout 
Might Be On The Cards In an X post, crypto analyst Titan of Crypto suggested 
that a breakout could be imminent for the Bitcoin price. He noted that BTC is 
progressing inside a 4-hour falling wedge, which indicates a bullish reversal 
pattern. If confirmed, the analyst stated that the breakout could target the 
$107,500 and $109,500 zones, which are the Fibonacci confluence areas. Related 
Reading: Crypto Analyst Puts Bitcoin Price At $120,000 If This Range Breakout 
Happens Crypto analyst Kevin Capital highlighted the solid V-shape recovery 
for the Bitcoin price after the leading crypto dropped to as low as $100,000 
on May 5. However, the analyst noted that BTC’s rebound back to the $105,000 
zone won’t matter until it breaks above the $106,800 level. The leading crypto 
must also show actual follow-through with 3-day to 1-week closes to support a 
breakout. At the time of writing, the Bitcoin price is trading at around 
$105,000. Up over 2% in the last 24 hours, according to data from 
CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com

Can Bitcoin Price Bounce To $120,000 Or Will It Break Below $100,000?

Bit Global has officially dropped its $1 billion lawsuit against Coinbase, 
with both firms agreeing to dismiss the case with prejudice, according to a 
joint court filing submitted Friday. Antitrust Accusation Dropped The joint 
stipulation, filed in the U.S. District Court for the Northern District of 
California, confirms that the dispute between Bit Global Digital […]

WBTC Delisting Fight Ends: Bit Global Drops Case Against Coinbase

Solana rallied nearly 5% on Friday, down nearly 10% in the past week. The 
Ethereum competitor is likely to rally towards its $165 target, a 13% rally 
within the next week. While Ethereum draws the interest of institutional 
investors, Solana is competing through partnerships and decentralized 
applications on the blockchain.