Analysts believe that Bitcoin will pump again after a healthy consolidation around $106,000.

Gate News bot message, on-chain Options protocol Derive founder Nick Forster stated: “Although the recent rise of Bitcoin price above $111,000 is worth following, the current price movement indicates it is in a consolidation phase, rather than about to break out.”

Forster believes that the consolidation phase may be a “healthy correction” before a new round of “significant increases”, which will give the “market time to digest recent gains and prepare for the next phase.”

Market data shows that Bitcoin is up 11.59% over the past 30 days, hitting an all-time high of $111,970 on May 22 before falling back to around $105,976 at the time of this article.

The next stage of development is still uncertain. Bitcoin researcher Sminston With stated that BTC could rise by 100% to 200%, with cycle peaks between $220,000 and $330,000. Meanwhile, cryptocurrency trader Apsk32 indicated that a more reasonable target for BTC in 2025 is to reach $220,000.

Forster stated that the U.S. International Trade Court ruled on May 28 to prevent Trump from exceeding his authority to impose comprehensive tariffs, which means that “the direct concerns about inflation triggered by trade have been alleviated.”

However, the Federal Circuit Court of Appeals ruled on May 29 that Trump could temporarily continue his tariff regime under the Emergency Powers Act while appealing the trade court’s decision.

Forster added that the next interest rate decision to be made by the Federal Reserve on June 18 will be “crucial.”

Moreover, although historically the third quarter has been a “weak period” for Bitcoin, the situation in 2025 may be different. He stated: “Favorable regulatory developments and ongoing institutional interest may support a stronger performance for Bitcoin in the third quarter.”

According to CoinGlass data, Bitcoin has averaged a 6.03% increase in the third quarter since 2013, while the fourth quarter has historically been its strongest performing quarter, with an average return rate of up to 85.42%.

It also pointed out that the inflow of funds into spot Bitcoin ETFs is massive, but this capital has not yet been reflected in the spot price. He added, “This phenomenon can be attributed to the nature of ETF investments, which typically involve institutional investors seeking investment opportunities without immediately affecting the spot market price.”

Source: Cointelegraph