Bitcoin is locked in a sideways trading range, leaving crypto analysts and traders divided over the next move. A recent poll by crypto analyst Matthew Hyland reveals a nearly even split in sentiment among users, with 50.2% expecting a drop to $94,000 while 49.8% believe a surge to $114,000 is on the horizon.
What comes next for #BTC ? (Currently $104k)
— Matthew Hyland (@MatthewHyland_) June 18, 2025
The poll, conducted on X and gathering over 1,300 votes, comes as Bitcoin trades near $104,522. A move to $94,000 would reflect a 10% decline, while $114,000 would mark a 9% increase and a new all-time high, surpassing the previous record of $111,940 set on May 22, based on CoinMarketCap data.
Sentiment Wavers as Market Moves Sideways
Bitcoin has not revisited the $94,000 level since May 6, just before reclaiming $100,000 on May 8 for the first time in three months. A brief rally saw it touch $110,000 on June 11, raising hopes for a breakout. However, escalating geopolitical tensions caused a sharp retracement to $103,000.
The situation intensified after Israel launched airstrikes on Iran, while US President Donald Trump escalated the rhetoric by calling for Iran’s “unconditional surrender” and directly threatening Iranian Supreme Leader Ayatollah Ali Khamenei.
These geopolitical events have weighed on crypto sentiment. The Crypto Fear & Greed Index, which had been in “Greed” territory, fell back to a “Neutral” reading of 54 out of 100 in its June 20 update.
Broader Market Stagnation Adds to Uncertainty
The sideways action is not limited to crypto. The S&P 500 has been relatively flat, posting a 0.48% decline over the past five trading days, according to Google Finance. MicroStrategy (MSTR), led by Bitcoin bull Michael Saylor, has seen its stock drop 2.43% in the same period and 10.74% over the last 30 days.
Despite this, institutional interest remains strong. Spot Bitcoin ETFs based in the United States recorded $388.3 million in inflows on Wednesday, marking the eighth straight day of new capital entering the market.
Analysts Remain Divided on Bitcoin’s Future
The long-term outlook for Bitcoin remains a hot topic. Michael Saylor recently claimed on June 10 that the bear market is unlikely to return. However, analysts like Rekt Capital argue that a post-bull market correction is still likely.
Others have more bullish targets. Some analysts forecast Bitcoin reaching $130,000 to $135,000 in Q3, while BitMEX co-founder Arthur Hayes holds firm to his prediction that BTC will hit $250,000 before the end of 2025.
As Bitcoin holds steady near $104K, traders are watching key support and resistance levels. The next few weeks may decide whether the bulls or the bears take charge.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
