Key takeaways:
Bitcoin must maintain above $95,000 to have a chance at retesting its $109,000 all-time high; failure to hold could lead to a deeper correction, crypto analysts warn.
Several crypto analysts told Cointelegraph in March that Bitcoin may have a chance of reaching new all-time highs in June.
The upcoming Federal Reserve decision on May 7 could influence Bitcoin’s price movement over the coming days.
Bitcoin needs to continue to hold above the $95,000 level for a chance to climb back and retest its all-time high, or face an even deeper correction, crypto analysts say.
It comes after several analysts told Cointelegraph earlier this year that June could be the month Bitcoin (BTC) reaches new all-time highs.
“The $95,000 level — currently under consolidation — is a critical pivot point, acting as the lower boundary of a three-month range that defined market structure between November 2024 and February 2025,” Bitfinex