Analyst: If Bitcoin Holds $10.8K, It Could Test $11.2K

BlockBeats News, June 30th, according to Decrypt's report, the market is currently focused on this week's global macro events, including the European Central Bank's annual policy forum and Fed Chair Powell's appearance on Tuesday. Despite Bitcoin's price movement remaining relatively stable, signals from derivatives and on-chain markets suggest that market volatility may be about to return. Traders are closely monitoring changes in major central bank policy statements, which could affect the overall risk appetite of both the crypto and traditional markets.

Analyst Axel Adler Jr. stated that whales are moving a significant amount of funds to centralized exchanges, a pattern that, when combined with decreasing exchange reserves and weakening stablecoin inflows, usually signals an impending market shakeup. As long as Bitcoin holds above $108,000, the base case scenario is further upside, with a target of $112,000.