Bitcoin (BTC<\/a>) tapped $31,000 for a third time this year on June 25 as the weekly close promised volatility.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC price movements focusing on yearly highs.<\/p>\n BTC price remained strong over the weekend as attention focused on geopolitical events in Russia and surrounding states. <\/p>\n With tensions lessening on the day, curiosity over markets\u2019 reactions at the June 26 open remained, with the weekly candle close \u2014 already a classic source of volatility \u2014 coming first.<\/p>\n In a recent analysis, popular trader Rekt Capital put the \u201cmost bullish scenario\u201d for the weekly close above the pivotal $30,000 mark.<\/p>\n #BTC<\/a> has broken the multi-month downtrend (blue)<\/p>\n But if $BTC<\/a> performs a Weekly Close like this – a new downtrend may form (black)<\/p>\n This could be the beginning of a new pattern<\/p>\n Lots can change before July<\/p>\n Most bullish scenario -> Weekly Close above ~$30,000#Crypto<\/a> #Bitcoin<\/a> pic.twitter.com\/i9rdXCdymb<\/a><\/p>\n \u2014 Rekt Capital (@rektcapital) June 22, 2023<\/a><\/p><\/blockquote>\n \u201cBTC in mid-April rejected from $30,000 resistance. Let\u2019s see if $BTC can turn $30,000 into support,\u201d a further post added<\/a> over the weekend.<\/p>\n Fellow trader Crypto Tony stayed hopeful for a trip to $32,000 next, should Bitcoin successfully consolidate near $31,000.<\/p>\n $BTC<\/a> \/ $USD<\/a> – Update <\/p>\n If Bitcoin can consolidate around these highs at $31,000, then a burst up to $32,000 will be no problem <\/p>\n I believe in the bulls pic.twitter.com\/lOl7AQ6RIl<\/a><\/p>\n \u2014 Crypto Tony (@CryptoTony__) June 25, 2023<\/a><\/p><\/blockquote>\n A slightly less confident Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, called into question bulls\u2019 ability to keep upside momentum going.<\/p>\n \u201cBitcoin made a nice high, through which it swept the yearly high,\u201d he told<\/a> Twitter followers. <\/p>\n \u201cI\u2019m unsure whether we\u2019ll continue running from here, but during uptrends you\u2019ll most likely see price continuing to run rather than have deep corrections. If we have a correction, $28,500 I buy.\u201d<\/p><\/blockquote>\n Van de Poppe repeated a popular downside target<\/a> among market participants eager to \u201cbuy the dip\u201d below $30,000.<\/p>\n Despite the cool-off in volatility against the U.S. dollar, Bitcoin did manage to set new records in three countries this week.<\/p>\n Related:\u00a0Bitcoin \u2018parabolic advance\u2019 means BTC price all-time high in 2023 \u2014 Trader<\/a><\/em><\/strong><\/p>\n In Argentina, Venezuela and Lebanon, BTC hit its highest-ever levels against the local currency.<\/p>\n For those countries, that trend has continued throughout 2023 as inflation and macroeconomic policy choices quickly erode purchasing power.<\/p>\n In Turkey, where the lira plunged to new lows against the dollar, BTC\/TRY neared the area of its blow-off top from December 2021.<\/p>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-06\/0d9844f8-07cf-4061-b02e-4e0a8d498a17.png\")
BTC price challenges $31,000<\/h2>\n
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Bitcoin records keep tumbling<\/h2>\n
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