Bitcoin Dips 1.5% After Surge Above $110,000, Analysts Eye $115,000

Bitcoin experienced a brief surge above $110,000, but the cryptocurrency has since dipped, leading analysts to predict a new leg up in the near future. The realized capitalization of Bitcoin hit an all-time high, despite the price cooling off below $110,000. This growing realized cap, along with a rising Coinbase Premium, suggests bullish momentum for the cryptocurrency. Market watchers are eyeing a monthly close above $115,000 as a potential trigger for the next major upward movement.

At the time of writing, the BTC/USD pair hovered near $108,500, down roughly 1.5% from the day’s open. Momentum had been supported by optimism surrounding potential progress in U.S. trade negotiations, which entered their second day. However, trading firm QCP observed that although U.S. officials described the discussions as “fruitful” and a “good meeting,” there were no concrete breakthroughs, causing risk assets to stall.

Analysts now anticipate a period of pause before the next move. Veteran trader and analyst Michaël van de Poppe shared that consolidation typically lasts a few days, followed by another breakout above the all-time high. He pinpointed $107,000–$108,000 as a key zone for potential entry. Similarly, Mark Cullen highlighted the $107,000 level as a likely dip point for a “quick retrace and fast buy up.” He also noted alternative scenarios in which Bitcoin might revisit $100,000 support or even decline to $98,000 before resuming its upward trajectory. Cullen emphasized that $106,000 and $98,000 are critical levels for maintaining bullish momentum into the summer.

QCP cautioned that the market is “in limbo” ahead of major U.S. macroeconomic releases this week, namely the Consumer Price Index (CPI) and Producer Price Index (PPI). These reports, set for Wednesday and Thursday, may influence risk sentiment, especially if global trade rhetoric remains vague. They noted that with CPI due tomorrow, investors are adopting a cautious stance, and diplomatic uncertainty could undermine broader market sentiment. These inflation reports serve as one of the final key data points before the Federal Reserve’s June 18 meeting on interest rates. Current market expectations suggest no rate cuts before September, despite calls for earlier action.

According to analysts' forecasts, Bitcoin could surge past $115,000 in June, with the latest U.S. jobs data expected to weaken, raising the odds of a Federal Reserve interest rate cut. This could further fuel the bullish momentum for Bitcoin. The weekly trend for Bitcoin still reflects a 3.3% increase, suggesting that buyers are active in the market. However, the cryptocurrency remains approximately 4.2% below its all-time high of $111,000 reached last month. Despite the recent dip, analysts predict that Bitcoin could rebound to around $92,000, with possible dips to $88,000 and even lower, potentially down to $78,000, before rebounding. The cryptocurrency is currently moving in a range between $104,000 and $107,000, well above the bull market support band. This could indicate a correction before another rally.

The hashrate growth for Bitcoin increased to 10.4 EH/s in May 2025, which could also contribute to the bullish momentum for the cryptocurrency. Overall, the outlook for Bitcoin remains bullish, with analysts predicting a new leg up in the near future.