On June 1st, CryptoQuant analyst Axel Adler Jr wrote that "Despite Bitcoin's brief pullback to $103,000-$104,000, the fundamentals remain bullish: trading platform reserves continue to decrease, corporate purchases are putting pressure on supply, and long-term holders continue to accumulate, forming a 'buffer' at the market's bottom.
Meanwhile, the macroeconomic landscape presents mixed signals: PCE inflation slowdown has eased some of the Federal Reserve's policy pressure, but tariff uncertainty and rising yields have strengthened the 'risk-averse' atmosphere, suppressing market growth willingness.
The baseline scenario for next week is Bitcoin trading sideways between $103,000 and $110,000 until new driving factors emerge. If trading volume expands and momentum breaks through 20%, accompanied by a breakthrough above $110,000, it can confirm the market is preparing to test the $115,000-$120,000 range. Conversely, if net capital inflows turn positive and the price falls below $100,000, it may signal a deeper correction."
