The 6.39% drop in Bitcoin (BTC) price from its all-time high of $111,980 has caused many investors and analysts to speculate on what’s next. Charles Edwards, the founder of Capriole Fund, posted his take on the similarities between the current Bitcoin price and Gold’s 2010 and 2011 price action. Based on the comparison between the assets, Edwards is expecting a bullish outlook for BTC in June 2025, but outlines concerns that may hinder its uptrend.
Charles Edwards highlighted the similarities between Bitcoin’s current price and Gold’s 2009 and 2011 price action. Despite BTC’s 8% crash, the founder expects a bullish outlook in June 2025 if a few conditions are met.
After breaching the 2008 ATH, Gold retested the support and kick-started an explosive move to the upside. During this ascent, Gold’s December 2009 blow-off top sustained the uptrend, allowing it to reach new highs. A flip of a previous resistance level into support is a key characteristic of a bull run. The founder expects Bitcoin price to follow suit and flip a key hurdle into support.
Gold’s price action from 2009 to 2011 is similar to Bitcoin’s flip $73,884 ATH flip into a support floor, followed by an ascent to $111K. As noted above, the recent Bitcoin price crash from the ATH and the “two-day close” below the $106,047 support level is “less promising,” says Charles Edwards. However, if BTC manages to produce a two-day candlestick close above $106,047 and sustain it, the outlook can become bullish again. In such a case, Bitcoin has the potential to mirror Gold’s 2010 and 2011 price action and push to new highs. Hence, a bullish outlook for June 2025 is contingent on BTC bulls.
For a long-term price prediction of Bitcoin between 2025 and 2023 – Read This
According to popular crypto influencer and reporter Vivek, total whale holdings have been on the rise since February 2025. This CryptoQuant data excludes exchange and mining pool addresses to get a clear picture of the holder sentiment. This data point provides a clear bullish outlook for BTC, as noted by Charles Edwards.
Analyst PropheticBTC agreed to Vivek’s bullish Bitcoin outlook and added, “Agreed, big push up coming this week.” In a separate post, PropheticBTC made a time-based prediction for Bitcoin price and expects recovery to $110,000.
Based on his recent tweets, the crypto analyst is forecasting a short-term bullish bias for BTC price.
“Going long tomorrow, holding until Wednesday, June 11th. Will update after my fill tomorrow.”
Based on PropheticBTC’s forecast, the short-term outlook for Bitcoin price remains bullish with a target of $110,000. The medium-term outlook remains uncertain, according to Charles Edwards, founder of Capriole Fund, with a key focus on the $106,047 resistance level. Whale holders’ increasing BTC holdings show confidence in Bitcoin’s performance in the near future, adding credence to both the long-term and mid-term outlook.
Meanwhile, investors need to pay attention to the upcoming Fed Chairman speech today amid rumors of Trump firing Jerome Powell.
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