Bitcoin’s Recent Dip Draws Parallels to Gold’s Historic Rally, Analysts Eye June Recovery

Following a 6.4% pullback from its record high of $111,980, Bitcoin has stirred debate among analysts about what comes next.

Charles Edwards, founder of Capriole Fund, believes the price action mirrors gold’s trajectory between 2009 and 2011, potentially setting the stage for a bullish breakout—if key support levels are reclaimed.

Edwards points to a crucial zone around $106,047. If Bitcoin can close above this level for two consecutive days, it could confirm a support flip similar to gold’s rally after retesting its 2008 peak. Until then, the outlook remains uncertain, though Edwards still leans cautiously optimistic for June.

Despite the correction, large holders appear unfazed. On-chain data shows that whales have been steadily accumulating BTC since February, excluding exchange and miner wallets. This trend reinforces confidence in Bitcoin’s longer-term momentum.

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Supporting the bullish narrative, analyst PropheticBTC forecasts a move back to $110,000 and plans to enter a long position with a short-term horizon extending to mid-June.

As the crypto market looks for direction, macro factors like upcoming Federal Reserve remarks and political developments could influence near-term sentiment. Still, many believe that if Bitcoin repeats gold’s historical pattern, another leg up could be just around the corner.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.