**Swan Bitcoin CEO Cory Klippsten Sees Over 50% Chance for Bitcoin to Hit $109K by July Amid Current Market Dynamics**
Cory Klippsten, the CEO of Swan Bitcoin, believes there’s a greater than 50% chance that Bitcoin (BTC) will reclaim its all-time high (ATH) of $109,000 by the end of June. As of now, Bitcoin is priced at $88,210, reflecting a 14% drop following recent tariffs announced by President Trump. Klippsten points out that before any significant upward movement can occur, the market needs to stabilize amidst macroeconomic uncertainties, particularly those stemming from U.S. tariff policies and inflation concerns. “The market first needs to digest tariffs, trade war fears, and growth anxieties. Bitcoin trading below $100,000 right now feels like a pause, not the end of the bull run,” he stated.
At the time of writing, BTC is trading at $86,210, which marks a 7.9% decline over the past 24 hours and a 16% drop since Trump’s tariff announcement on February 1 regarding imports from China, Canada, and Mexico. Klippsten reassures that institutional accumulation is ongoing, despite the price fluctuations, and he downplays fears of a prolonged bearish trend.
**Post-ATH Volatility and Strategic Reserve Impact**
Bitcoin initially soared to $100,000 in December 2024 after Trump’s election but encountered selling pressure following the announcement of the U.S. Strategic Bitcoin Reserve (SBR). This executive order confirmed that the government would keep seized BTC but did not include plans for additional purchases, leading to a dip below $85,000. “We’re in a consolidation phase now, but I don’t see it extending into a long-term sideways move,” Klippsten remarked.
Network economist Timothy Peterson likens the current price movements to the post-spot Bitcoin ETF situation in January 2024, where BTC experienced a sharp correction before continuing its upward trajectory. Peterson anticipates a 6–12-week consolidation period between $85K and $95K, followed by a gradual rise above $100K.
Bitwise Invest CEO Hunter Horsley attributes the correction driven by the SBR to profit-taking by short-term traders, similar to sell-offs seen during ETF launches. “Post-event volatility is typical; structural demand remains intact,” Horsley noted on X on March 7.
Klippsten acknowledges the macroeconomic challenges—such as geopolitical tensions, shifts in Federal Reserve policy, and tariff risks—but considers these to be temporary. He highlights Bitcoin’s historical resilience, referencing its 8-month range-bound phase between $53K and $72K following the $73,679 ATH in March 2024 before the Trump rally. “Macroeconomic uncertainty—geopolitical tensions, inflation fears, and Fed policy changes—certainly creates noise, but I would say it’s mostly short-term.”
**On-Chain Metrics**
Analysts at ETHNews have observed parallels between the current liquidity conditions and those in Q1 2024, when ETF approvals led to whale redistribution. Blockchain data shows growth in stablecoin reserves and miner holding patterns, indicating that accumulation is likely paving the way for the next cycle of price discovery.
