Bitcoin (BTC) has now decreased less than $ 103,000 after a decrease of 1.17 % over the past 24 hours. The coded currency before marriage continues in a large correction scene in the market since reaching the highest new level ever at 111,970 dollars on May 22. Despite the continuous contraction, BTC is still a distinct performance in the current encryption market cycle that includes more than 600 % of the FTX prices in the market in November 2022.
Interestingly, Miles Deutcher, a prominent encryption analyst in one of the most prominent upright factors in the assets, highlights the positive and negative capabilities.
Strategy, others: the largest bitcoin ally and danger, Deutscher says
in X post On June 21, Miles Deutscher participated in obtaining the potential of the treasury companies in Bitcoin on the market. For context, Bitcoin Treasury refers to any business with BTC Holdings in its public budget. Similar to retail investors, these companies have chosen to get BTC as a backup asset and a long -term investment instead of traditional assets such as gold, cash or bonds.
according to Data from CoingeckoThere are 34 Bitcoin Treasury companies that are publicly traded with total holdings of 724, 612 BTC. These companies include names such as Tesla Inc. And metaplanet inc. And Microstrate Inc. (Strategy), which has Singularly 576,230 BTC represents more than 2 % of the market supply.
In general, the appearance of Bitcoin Treasury was an institutional investment in bitcoin development in addition to ETF instant markets. Miles Deutscher assumes that the growing general recognition of BTC’s investment capabilities by major companies will serve as a contributing factor in the rise of CPRICE of the original with potential targets of $ 200,000.
However, the famous market analyst also highlights the potential risks posed by treasury companies in Bitcoin as negative stimuli. Due to their credit responsibilities, it warns of a potential scenario where forced sale can occur during the bear market or broader economic stagnation.
According to Miles Deutsher, the real threat may not be the actual reduction, but rather the front that smart investors expect from smart money. It is noted that this dynamic can extend to the instant Bitcoin ETF market, which has already attracted More than 46.66 billion dollars in flows. In a risk environment, institutional investors can lead to large output flows, which increases the market side.
BTC price overview
At the time of writing this report, Bitcoin was trading at $ 102,843, which reflects a 1.85 % decrease last week. After this price drop, the investor’s attention will turn into a $ 100,000 psychological support area, which leads to the collapse below that would lead to the liquidation of the heavy market.
Distinctive photo from Reuters, the tradingView graph
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2025-06-22 18:00:00
