A $40 billion BTC options expiry scheduled for June 28 could serve as a short-term volatility trigger.
Institutions continue accumulating Bitcoin, boosted by Jerome Powell’s statement that U.S. banks can legally serve crypto clients.
On the other hand, technical hesitation, cautious sentiment around altcoins, and macro uncertainties are keeping Bitcoin pinned just below breakout levels. The result? A tense standoff between bullish momentum and market hesitation.
So, will BTC push toward a new ATH before June ends — or stall until July?
While Bitcoin flirts with resistance, Ethereum ($ETH) isn’t offering much clarity either. ETH is trading near $2,450, holding just above the $2,400 support zone. If this level breaks, it could drag the whole market lower.
However, if ETH regains strength and pushes above $2,873, it would confirm Elliott Wave III formation — suggesting renewed upside toward $3,000+. But just like Bitcoin, ETH’s sideways action points to an indecisive market not yet ready to commit.
In short, Ethereum is neither confirming nor rejecting Bitcoin’s setup — adding to the uncertainty.
To complicate things further, altcoin sentiment remains shaky following the court’s decision to reject Ripple’s $50 million settlement offer. This has delayed ETF hopes for XRP and cast doubt over Ethereum’s own approval timeline.
As a result, Bitcoin has strengthened its dominance to over 65%, as traders rotate into what they perceive as the safest bet in crypto. Still, even BTC is showing hesitation, caught between macro tailwinds and micro-level uncertainty.
Bitcoin is clearly on the edge of something big, but the current chart reflects hesitation more than confirmation. With June nearly over, the momentum could carry BTC to a new ATH — yet the window is tight, and July may offer a cleaner setup.
Mixed signals across BTC, ETH, and macro factors suggest traders should stay cautious, but prepared. The next breakout is coming — whether it’s a false alarm or the real deal is the question that only time will answer.
