Cryptocurrencies Drop Up to 3%, but Analysts See Bullish Potential for Bitcoin

Bitcoin is expected to break out of its narrow trading range between $103,000 and $109,000 in the coming weeks.

Written by: Ignacio Teson • Friday, June 20, 2025 • 1 min read

• Last updated: Friday, June 20, 2025

Quick overview

The cryptocurrency market experienced losses on June 20, with Bitcoin dropping to $103,731 and Ethereum remaining stable at $2,485.54.
Despite recent declines, analysts suggest Bitcoin may be poised for a bullish breakout due to signs of liquidation exhaustion and reduced open interest.
Bitcoin has rebounded nearly 10% since June 5, briefly nearing record levels, and is expected to break out of its current trading range soon.
The U.S. dollar weakened against the euro and British pound amid geopolitical tensions, contributing to increased volatility in both currency and crypto markets.

The cryptocurrency market saw losses on Friday, June 20. Bitcoin (BTC) fell as low as $103,731, while Ethereum (ETH) remained relatively flat at $2,485.54. Despite Bitcoin trading about 6% below its all-time highs, several market signals point to renewed upside potential.

Cryptocurrencies Drop Up to 3%, but Analysts See Bullish Potential for Bitcoin.

Bitcoin has rebounded nearly 10% since June 5, briefly reaching close to record levels around $110,800 on June 9. Although prices have since pulled back, a drop in open interest and signs of “liquidation exhaustion” suggest BTC may be gearing up for its next major move.

According to data from Cointelegraph Markets Pro and TradingView, Bitcoin remained range-bound below $105,000 on Thursday. However, analysts believe the current consolidation phase may soon give way to a new bullish breakout.

BTC/USD

As previously reported by Cointelegraph, Bitcoin is expected to break out of its narrow trading range between $103,000 and $109,000 in the coming weeks, potentially entering a price discovery phase.

While some analysts forecast that BTC could surpass $120,000 this winter, prediction market Polymarket shows only a 16% chance of that happening before July.

Weaker Dollar Amid Geopolitical Uncertainty

The U.S. dollar slipped on Friday against both the euro and the British pound, though it remained on track for its strongest weekly gain in over a month. The move reflects investor demand for safe-haven assets amid growing global uncertainty.

Tensions in the Middle East continue to escalate, with Israel and Iran engaged in an aerial conflict. Israel is reportedly targeting Iran’s nuclear infrastructure, while markets remain on edge over the potential for U.S. military involvement. The geopolitical uncertainty has added to the volatility in both currency and crypto markets.

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ABOUT THE AUTHOR See More

Ignacio Teson

Economist and Financial Analyst

Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.