Bitcoin’s path to a new all-time high remains on track, despite short-term macroeconomic uncertainty, according to Swan Bitcoin CEO Cory Klippsten.
Klippsten believes there is more than a 50% chance that Bitcoin will break past its previous record of $109,000 before June. However, he notes that the market needs time to absorb the volatility surrounding tariffs, inflation concerns, and geopolitical shifts before resuming its upward trajectory.
In a recent interview with cointelegraph, Klippsten pointed to President Donald Trump’s tariff policies and economic uncertainty as key factors weighing on Bitcoin’s price action.
“The market needs to first digest tariffs, trade war fears, and growth scare fears. Bitcoin trading below $100,000 right now feels like a pause, not an end to the bull run,” he explained.
At the time of writing, Bitcoin is trading at $86,939, down 3.26% in the last 24 hours and nearly 14% lower since Trump announced new tariffs on imports from China, Canada, and Mexico on Feb. 1.
Despite these setbacks, Klippsten remains optimistic, arguing that Bitcoin’s momentum from its historic run above $100,000 in December 2024 has not fully faded. Institutional demand, he adds, remains strong.
“The macroeconomic uncertainty, geopolitical tensions, inflation fears, and Fed policy shifts is definitely creating noise, but I’d argue it’s mostly short-term,” he said.
Bitcoin Consolidation Phase Likely Before Next Leg Up
Bitcoin has historically entered consolidation phases following major breakouts.
After hitting an all-time high of $73,679 in March 2024, Bitcoin traded within a wide range of $53,000 to $72,000 for eight months before reclaiming new highs after Trump’s election victory in November.
Klippsten expects a similar pattern this time around, stating:
“We’re in a consolidation phase now, but I don’t see it stretching into long-term sideways movement.”
Some analysts believe Bitcoin may hover between $85,000 and $95,000 for several weeks before making another push higher.
Bitcoin’s Drop After Strategic Reserve Announcement Mirrors ETF Reaction
Bitcoin briefly dipped below $85,000 after Trump signed an executive order establishing a Strategic Bitcoin Reserve, a move that initially disappointed traders.
While many had hoped for a clear plan on future Bitcoin purchases, the order only confirmed that the U.S. government would not sell its existing BTC holdings, leaving uncertainty about when and how much Bitcoin it might acquire in the future.
However, Bitwise CEO Hunter Horsley dismissed concerns about the price drop, drawing a parallel to Bitcoin’s decline following the approval of spot ETFs in January 2024.
“Bitcoin sold off on Bitcoin ETFs launching. And then went on to a new ATH. Traders gonna trade,” Horsley wrote in a March 7 post on X.
What’s Next?
While Bitcoin’s near-term price action remains volatile, analysts are largely optimistic about its long-term trajectory. With Klippsten giving Bitcoin a strong probability of surpassing its all-time high before June, all eyes remain on macro conditions, institutional flows, and key resistance levels as BTC’s next move unfolds.
