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Ahmed Barakat
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JP Morgan calls it. The discount trade, or the macro thesis that drove billions into Bitcoin and gold prices, is on the decline, and bank forecasts suggest the decline has begun. acceleration For BTC specifically.
Bitcoin is currently trading above $63,000, down sharply from its October peak above $126,000, with institutional positions shifting.
JPMorgan analysts pointed to a “broad-based pullback to discount trading by both retail and institutional investors,” citing easing tensions between the US and Iran as the catalyst draining the geopolitical premium from both Bitcoin and gold.
Currently, gold ETFs lost $20 billion in the week ending June 5. US Bitcoin ETFs recorded $2.1 billion in outflows in June alone, erasing much of the inflows from earlier in the year. However, not everyone reads these numbers the same way, and this is where real trading lives.
Fabien Dore, CIO at Swiss digital asset bank Signum, believes the outflows likely reflect the unwinding of cash arbitrage rather than outright capitulation. According to him, institutions are closing hedged futures positions as the underlying premium narrows, and there is no escape from cryptocurrencies.
Exchange flows and stablecoin supplies remained normal, supporting the Doric reading.
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Bitcoin Price Prediction: Where’s Next?
Bitcoin is trying to build a base at the low $60,000 level after the violent pullback that occurred last May. $60,000 is also the critical immediate level and temporary support in the short term, with the heaviest negative demand gathering near $59,000, a level that would represent a complete round trip to pre-rally accumulation areas.
The technical setup is a classic post-parabolic consolidation: momentum breaks, sentiment diverges, and trading volume dries up. The market is either building a leverage bottom or setting up for a deeper macro-driven correction. Neither scenario is off the table.
As ETF outflows begin to exhaust and macro data declines, Bitcoin may regain $70,000 worth of renewed institutional buying. until JP Morgan The 6-12 month upside target is near $170k, with the long-term macro case extending to $240k-$266k on a parity basis with private sector gold holdings.
However, we may see intermittent consolidation between $60,000 and $65,000 as arbitrage unwinding completes and overall clarity returns. As long as we don’t see a close below $59,000 when heavy trading volumes reopen, the bottom is still intact.
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Bitcoin Hyper targets early uptrend as Bitcoin tests crucial support
A Bitcoin price of $63,000 still means you are buying an asset with a market cap of over $1 trillion; The bullish calculus from here is much different than it was in 2020. And that’s the uncomfortable truth for late-cycle spot buyers.
Early-stage infrastructure in the Bitcoin ecosystem presents a completely different risk profile, especially as development of the second layer of BTC accelerates.
Bitcoin Hyper ($HYPER) It positions itself as the first-ever Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, a technical approach that targets Bitcoin’s core limitations: slow transactions, high fees, and almost complete lack of programmability.
The project claims Solana’s sub-latency on BTC-secured rails, and combines a decentralized canonical bridge for BTC transfers with high-speed smart contract execution. It sparked a pre-sale 32 million dollars At the current price $0.0136815With direct staking of the first participants.
The contrast with spot BTC is stark: get in with a fraction of a cent versus five numbers. This contrast is pitch.
Find Bitcoin Hyper here Before the next price phase.
