Analyst: Bitcoin Fundamentals Still Bullish, Long-Term Holders Continue to Accumulate Creating "HODL" Support

On June 1st, CryptoQuant analyst Axel Adler Jr. made a post stating, "Although there was a brief pullback in the Bitcoin price to the range of $103,000 - $104,000, the fundamentals still remain bullish. Exchange reserves continue to decline, corporate buying pressure persists, and long-term holders keep accumulating, thus forming a market bottom 'buffer'. " At the same time, the macro situation is presenting mixed signals. The easing of PCE inflation has alleviated some of the policy pressure on the Federal Reserve. However, tariff uncertainty and rising yields have reinforced a 'risk-off' atmosphere, which has suppressed the market's willingness to grow. The basic scenario for next week is that the Bitcoin price will trade sideways between $103,000 and $110,000 until new driving factors emerge. If trading volume expands and the momentum breaks by 20%, along with a breakthrough above $110,000, it can confirm that the market is ready to test the range of $115,000 - $120,000. On the contrary, if net inflows turn positive and the price falls below $100,000, it may indicate that a deeper correction is about to occur.