Bitcoin price today drops sharply to 104,696 USD, continuing to be stuck in a narrow sideway zone. Short-term profit-taking pressure increases as concerns about US trade tariffs and weak economic growth restrain investor sentiment. After the historical peak in late May, Bitcoin struggles to break through. Smart money is hesitant, highlighting the question: Are the bulls weakening or just taking a temporary rest?
Scott Melker – a cryptocurrency expert, confirms that the market is still in an upward trend. Melker emphasizes an unprecedented spread of institutional capital, even as bond yields rise and global markets experience significant volatility. Bitcoin's strength is currently an indicator of a major shift in investment perspective: from skepticism to long-term belief, transforming Bitcoin into a dominant asset in the digital financial ecosystem.
Four predicted drivers that will help Bitcoin lead a price surge until 2025:
- Spot Bitcoin ETF approval: An event Melker calls a "turning point," especially due to the supportive stance of BlackRock CEO Larry Fink, which will expand the institutional investor layer and affirm Bitcoin's legal position on the global financial chessboard.
- President Trump shifting to support cryptocurrency: Trump's public backing of blockchain, cryptocurrency, and Non-Fungible Token has created a significant political boost, leading to expectations of legal relaxation and increased public interest.
- Capital flow from national asset funds: Investments from the Middle East and other regions are just beginning. If only 1% of global national reserve funds flow into Bitcoin, the FOMO wave could explosively surge due to limited supply.
- Increased corporate hoarding: The MicroStrategy trend of using Bitcoin as a reserve asset is spreading, helping to consolidate Bitcoin's role as an inflation hedge and long-term value storage channel.
Looking towards 2025, Melker presents a Bitcoin price scenario ranging from 130,000–150,000 USD, with an optimistic scenario potentially reaching 230,000–300,000 USD. Despite a cautious prediction due to historical margin of error, he emphasizes that the current price around 100,000 USD opens up a clear short-term growth opportunity due to continuous ETF and institutional accumulation capital pumping into the market.
Melker questions the traditional four-year cycle: Bitcoin is increasingly becoming a stable asset, significantly reducing the possibility of an 80% collapse as before. Instead, the market will operate on a "climb and light correction" mechanism, with a steadily rising price graph and interspersed small correction phases, minimizing extreme volatility.
For long-term investors, Melker suggests a flexible average price strategy: "Buy in May, buy in June, buy in July." He believes that despite the market being calm according to seasonal rules, Bitcoin's downside potential is increasingly limited. Compared to stocks, the long-term coin holding ratio of large ETF investors is higher, limiting short-term speculative risks and creating a solid foundation for a sustainable growth cycle.
