As we step into June, the stormy decline in the cryptocurrency markets at the end of May has temporarily settled. While significant rebounds in altcoins have yet to start, the anticipation of market normalization is fueled by the recent phone conversation between Trump and Xi and the subsequent statements made. But what do cryptocurrency experts predict for today?
Bitcoin (BTC)
According to Binance TR data, the price of BTC was at $104,000 at the time of writing. The U.S. markets had a negative start to the day. The reignited global trade war and increased geopolitical uncertainty following Ukraine’s attack have exacerbated fears. Amid these discussions, the rise in oil prices does not bode well for inflation.
In his recent analysis, Michael Poppe highlighted the pronounced resistance rejections on the BTC chart. He noted that these rejections are clearly cutting short the upward momentum, warning investors of potential significant losses, though he suggests this may be short-lived.
“Bitcoin 
$78,815’s clear rejection implies we will see lower prices before regaining upward momentum.”
Despite the fear, BTC is lingering in six-figure territories longer than ever before. Amid debates on reaching the peak, the normalization of prices above $100,000 suggests we might witness more significant movements, according to Lark Davis.
“Bitcoin is now experiencing its longest streak above $100,000. For 24 consecutive days, it has stayed over $100,000. This is unprecedented. Nonetheless, some believe BTC has reached its cycle’s peak.”
Wait for the Right Time for Cryptocurrencies
If you are a cautious investor, the risks at the current levels could lead to losses. In 2023, BlackRock had submitted a BTC ETF application, with questions about whether buying BTC below $28,000 was sensible. At that time, it was suggested that it might be safer to invest after a weekly closure above $28,000, with potential momentum increasing around daily closures at $45,000.
Today, if you consider buying BTC, DaanCrypto has marked a zone he deems safe, highlighting the importance of watching closures above it.
For those looking to buy altcoins, as ETH surpasses $4,000, you might consider altcoins for less risky gains while hunting for new all-time highs. The fear during BlackRock’s time is similar to today, with the only difference being BTC’s rise over $80,000.
