I still expect BTC to keep dropping toward the $53k–$55k range, likely until June 29.
On the geopolitical side, Iran reportedly attacked a Singapore-linked oil tanker near the Strait of Hormuz. Right now I'm waiting to see how the U.S. responds. If the U.S. comes out with a more aggressive statement, that could be another catalyst to push the market lower.
June is one of the most important months for institutions. This is when they rebalance portfolios, lock in profits, and do window dressing before the quarter ends. That's exactly why I projected BTC would correct around the 20th of June. Diminishing ETF outflows could be the first sign that Bitcoin is near it's bottom
Here's why July looks more bullish:
-Quarter-end selling is almost over, meaning institutional rebalancing and profit-taking should soon fade.
-Most hawkish Fed expectations are already priced in, limiting downside.
-Stablecoin liquidity remains high, leaving plenty of capital ready to rotate back into BTC.