Bitcoin Bull Run: BTC Price Might Ignite Bullish Rally In June If This Scenario Playout

Bitcoin (BTC) enthusiasts, get ready for a potential upside burst this month! On-chain analyst Willy Woo has identified a signal that suggests a bullish rally for the leading cryptocurrency in June. 

Bullish Trends in June’s Re-Accumulation Phase

Woo, a widely followed analyst with a million Twitter followers, believes that Bitcoin’s cost-basis analysis indicates a favorable outlook. The cost basis represents the price at which investors purchased Bitcoin.

According to Woo, historically, June has been a bullish month during the re-accumulation phase. He suggests that there might be a window for Bitcoin to rally in June, with the opportunity potentially opening up in about a week. You must keep an eye on how this signal unfolds!

Eye on AI and LSD Altcoins Instead of Shorting BTC

However, founders Jan Happel and Yann Allemann of Glassnode have an alternative perspective. They believe that those attempting to short BTC are “desperate” and should instead focus on artificial intelligence (AI) and liquid staking derivative (LSD) altcoins. They argue that seeking reasons to short BTC reflects desperation, and attention should be shifted towards innovative altcoins driven by AI and LSD technologies. 

Anticipating a $30,000 Price Tag? 

In a Swissblock post, Happel and Allemann mention their anticipation of Bitcoin’s price shooting up to $30,000 after it stayed within the previously predicted range of $26,000 to $27,500. They highlight potential catalysts such as the resolution of the U.S. debt ceiling and significant data releases.

The market sentiment is increasingly optimistic, and risk perception has lessened. However, they note that we are still waiting for increased market participation and momentum to propel Bitcoin toward the $30,000 target. At the time of writing, Bitcoin is trading at $27,093, showing a fractional decrease over the past 24 hours.