BTC Price Prediction: $120K Target in Sight as Accumulation Meets Technical Breakout

Factors Influencing BTC’s Price

Bitcoin Nears Historic Quarterly Close Amid Market Manipulation Concerns

Bitcoin stands on the verge of an unprecedented quarterly record as Q2 draws to a close. The $109,000 price level appears within striking distance, supported by converging technical indicators. Yet beneath this bullish facade, market structure cracks emerge—liquidity games, demand concerns, and Federal Reserve policy uncertainty loom as potential disruptors.

Recent algorithmic manipulations have exacerbated volatility. A predatory trading bot engineered a flash spike to $109,000 last weekend, liquidating $12 million in shorts before retreating. "This is clearly coordinated liquidity hunting," noted trader Skew, identifying the same actor behind similar pumps in prior weeks. Such maneuvers thrive in thin weekend markets, leaving CME futures gaps in their wake.

The deeper concern lies in distorted liquidity distribution. Market makers appear to be playing a high-stakes game of cat-and-mouse with leveraged positions, creating explosive moves that test both technical levels and trader psychology. As the June monthly close approaches, these dynamics could either cement Bitcoin's record run or trigger a violent reckoning.

Kazakhstan Moves To Create National Crypto Reserve with Seized Assets and Mining Operations

Kazakhstan is advancing plans to establish a state-controlled cryptocurrency reserve, confirmed by National Bank Chairman Timur Suleimenov. The reserve will primarily comprise seized digital assets and output from government-linked mining operations. This initiative mirrors global trends, notably following the U.S.'s similar move under the Trump administration.

The National Bank will oversee the reserve through a subsidiary specializing in alternative investments, aiming to mitigate volatility risks while capitalizing on strategic crypto holdings. Meanwhile, President Kassym-Jomart Tokayev reaffirmed ambitions to develop a 'Crypto City' with Bitcoin acceptance—a symbolic nod to mainstream adoption.

Market observers highlight the geopolitical significance as nations increasingly treat digital assets as sovereign reserves. Bitcoin (BTC) remains the focal point, though the structure may incorporate other coins over time.

Fold Holdings Shares Drop 7% Following Bitcoin Rewards Card Delay

Fold Holdings (FLD) saw its shares decline sharply after announcing a delay in the launch of its Bitcoin rewards credit card. The stock fell more than 7% following the news, reflecting investor disappointment.

The company cited an unexpected exit by a key infrastructure partner from the credit card business as the reason for the setback. "We are transitioning to a new partner better aligned with our long-term roadmap," Fold stated in a customer email.

Since its public debut at $10 per share in February, Fold's stock has struggled, hitting a low of $2.51 in April. Shares now trade at $4.25, underscoring ongoing challenges for the crypto-linked financial product.

Metaplanet Expands Bitcoin Holdings to 13,350 BTC, Surpassing Galaxy Digital and CleanSpark

Metaplanet, a Japanese investment firm, has aggressively increased its Bitcoin treasury with an additional 1,005 BTC ($108 million), bringing its total holdings to 13,350 BTC. The acquisition positions Metaplanet as the fifth-largest corporate Bitcoin holder globally, overtaking crypto-native firms like Galaxy Digital (12,830 BTC) and CleanSpark (12,502 BTC).

CEO Simon Gerovich confirmed the purchase at an average price of $107,601 per BTC, valuing the firm's total crypto assets at $1.4 billion. The company has added 10,000 BTC in just three months, signaling a bold accumulation strategy aligned with its revised target of holding 210,000 BTC by 2027.

German Savings Bank Sparkassen Reverses Stance, Plans Bitcoin Trading for Retail Clients by 2026

Germany's Sparkassen, the nation's largest banking group, has executed a dramatic about-face on cryptocurrency. Three years after dismissing Bitcoin as too volatile and risky, the savings bank network now plans to enable retail trading of digital assets through its existing banking apps by summer 2026.

The move, confirmed by the German Savings Banks and Giro Association, will route crypto transactions through DekaBank, Sparkassen's securities arm. This pivot marks a seismic shift for an institution that once epitomized conservative German finance.

Regulatory clarity and competitive pressures appear to have forced Sparkassen's hand. The bank's sprawling network serves roughly 50 million clients, making this institutional endorsement particularly significant for mainstream crypto adoption in Europe's largest economy.

Bitcoin (BTC) Poised for $120,000 as Long-Term Conviction Peaks: Analyst

Bitcoin's long-term holder ratio has surged, signaling a potential price breakout. The Long/Short-Term Holder Supply Ratio, tracked by CryptoQuant, shows long-term investors are accumulating while short-term traders exit. This pattern has historically preceded major rallies, including jumps to $28,000, $60,000, and $100,000.

Analyst Merlijn highlights the 30-day change in the ratio as particularly bullish. With Bitcoin hovering near $110,000, the supply squeeze suggests a move to $120,000 is imminent. The metric reflects a clear shift in market dynamics—long-term conviction is overpowering short-term speculation.

BTC Options Expiry Looms: Will Bitcoin Price Break or Drop?

Bitcoin held steady near $108,000 over the weekend as traders braced for a pivotal week in global finance. The European Central Bank's Sintra forum takes center stage, with Fed Chair Jerome Powell and ECB President Christine Lagarde set to address monetary policy challenges on Tuesday.

Market analysts detect brewing volatility beneath Bitcoin's calm surface. Axel Adler Jr., a CryptoQuant contributor, notes whale activity and derivatives positioning suggest an impending storm. "When large holders accumulate during periods of low volatility, it typically precedes explosive moves," Adler observed.

All eyes remain fixed on central bank signals. Powell's anticipated cautious stance on rate cuts could ripple through both traditional and crypto markets. The ECB forum's "Adapting to Change" theme underscores the delicate balance policymakers face—taming inflation without stifling fragile economic growth.

Strategy Nears 600K BTC Milestone as Institutional Accumulation Intensifies

Institutional Bitcoin accumulation continues unabated, with Strategy and Metaplanet collectively acquiring 5,985 BTC last week at an estimated cost of $640 million. Strategy's latest purchase of 4,980 BTC brings its total holdings to 597,325 BTC—now valued at over $64 billion—placing the firm within striking distance of the 600,000 BTC threshold.

The company funded the acquisition through the sale of 1.3 million MSTR shares, raising $519.5 million while retaining $18 billion in MSTR equity for future Bitcoin purchases. This marks Strategy's first use of its equity issuance program for BTC acquisitions in over three weeks, a move analysts describe as strategically timed to support Bitcoin's price stability.

Metaplanet's parallel buying activity underscores growing institutional conviction, with both entities maintaining an average Bitcoin purchase price of $70,982. The sustained accumulation highlights deepening corporate treasury strategies centered on Bitcoin as a reserve asset.

Bhutan Prepares Potential $15M Bitcoin Sale as Holdings Approach $1.3B

The Royal Government of Bhutan moved 137.245 BTC (worth $14.77 million) to Binance on June 30, according to Arkham Intelligence blockchain data. This transfer coincides with Bhutan's total bitcoin holdings reaching 11,924 BTC—valued at $1.28 billion at current prices near $107,000 per coin.

The Himalayan kingdom has emerged as a notable crypto participant, with its BTC reserves representing a substantial portion of its economy. The holdings were accumulated primarily through state-backed mining operations under Druk Holdings, in collaboration with Bitdeer Technologies. The latter plans to expand local mining capacity to 600 megawatts by 2025.

The Binance deposit has sparked speculation about possible selling activity, though Bhutanese officials remain silent on the transaction's purpose. Market observers note that large holders like Bhutan—sitting on significant unrealized gains—may counterbalance institutional buying pressure by periodically liquidating portions of their stakes.

Is BTC a good investment?

Olivia summarizes: "BTC presents a compelling risk-reward at current levels, with technicals aligning with fundamental adoption. The 100,000-105,000 zone now acts as strong support for mid-term holders."