Crypto Exec Compares Bitcoin To Gold, Sees Bullish June for BTC

Charles Edwards, founder of the Capriole Fund, believes Bitcoin (BTC) follows a pattern similar to gold’s price movement between 2009 and 2011. If the flagship crypto can hold above a key price level, June 2025 could bring a strong recovery. However, he warned that if Bitcoin fails to do so, the anticipated rally may be delayed.

Industry Expert Compares Bitcoin to Gold

In a recent report, Charles Edwards said that after gold passed its highest price in 2008, it dropped slightly but rose to even higher prices. This happened when the precious metal turned a past resistance level into support. Edward believes Bitcoin is now in a similar position.

Bitcoin broke past its 2021 high of $73,884 and reached a new all-time high (ATH) of $111,980 in late May. However, since then, the digital coin has dropped by 6.39%. Edwards says that for Bitcoin to continue rising, it must turn the $106,047 level into strong support.

According to CoinMarketCap data, Bitcoin is trading at $104,379 at the time of writing, down 0.39% in the last 24 hours. 

Bitcoin’s Next Move Hinges on $106K Price Level

Bitcoin’s recent drop below the key level of $106,047 has caused some concern among investors. The cryptocurrency closed below this level for two consecutive days, which Charles Edwards describes as a negative sign. 

He believes that for Bitcoin to recover, it must close above $106,047 and hold that level. The founder said turning a previous resistance level into support is usually a sign that the market is ready to rise. 

Without this change, Edwards warned that the decline could continue, and any new rally might be delayed.

Meanwhile, Katalin Tischhauser from Sygnum noted that Bitcoin is entering a new phase of supply shock. She explained that this supply constraint could create conditions for Bitcoin’s price to rise in the coming months.

This development happens simultaneously as big investors are buying more Bitcoin to hold it. This shows that institutions are still interested, even though the market has dropped recently.

Bitcoin Set for Short-Term Rebound Amid Fed Uncertainty

On the bright side, another crypto analyst, PropheticBTC, agrees with the bullish outlook. He expects the flagship crypto to rise to $110,000 soon. While Edwards focuses more on the medium-term trend, PropheticBTC is more optimistic about the short term.

Nevertheless, both analysts believe a recovery is possible, especially if Bitcoin climbs above the $106,047 mark. Beyond technical charts and indicators, macroeconomic and regulatory developments could shake things up. 

The Federal Reserve Chairman, Jerome Powell, is scheduled to speak today, and rumors are spreading that President Donald Trump may fire him. Many say any major announcement from the Fed could affect financial markets, including Bitcoin.

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