The ongoing Middle East conflict has significantly affected the cryptocurrency market, particularly impacting Bitcoin's price. In the last 24 hours, Bitcoin has dropped over 3%.
Bitcoin Price Fluctuates Amid Market Changes
As of trading during the North American session on Friday, June 13, 2025, Bitcoin's price has decreased to approximately $105,000. The fluctuations have also impacted the altcoin market, leading to over $1.1 billion lost in crypto leveraged markets in the past 24 hours.
Bitwise CIO's Predictions for Bitcoin's Future
In light of recent price drops, Matt Hougan, CIO of Bitwise, predicts a potential accumulation phase before significant growth towards the end of the year. He described the current time as the 'Summer of Accumulation', suggesting that investors may benefit from building positions in cryptocurrencies.
> "I think this is the 'Summer of Accumulation', a moment for long-term investors to build positions ahead of an epic EOY run," noted Hougan.
Analysis of Current Bitcoin Chart
After an impressive rally over the past two months, Bitcoin faced a significant resistance level around $112,000, and has since retraced to a crucial buy zone of about $105,000. On the four-hour timeframe, Bitcoin's RSI and MACD indicators are hinting at a potential reversal, with the RSI hovering in oversold territory and the MACD histogram suggesting decreasing selling pressure.
The current situation in the cryptocurrency market remains unstable due to external factors; however, some experts see opportunities for long-term investors.
