Bitcoin Price Forecast – BTC Eyes $108K as Risk-On Sentiment Returns

Highlights:

• Bitcoin is trending towards $108,314 after Friday’s correction
• The rebound comes as the market appears to have priced in geopolitical risks
• Rally off current price could see it rally to $108k or even $110k short-term

Bitcoin is in recovery today after a correction towards the end of last week. At the time of going to press, BTC was trading at $106,739.08, up by 1.68% in the day. Bitcoin trading volumes are also up intraday, surging by 23% to $42.97 billion. These rising volumes could see Bitcoin rally to new highs in the short term. That’s because it is a signal that investors are increasingly confident that Bitcoin’s odds of upside momentum are higher than its odds of a crash from its current price. A couple of factors support the bullish price action around Bitcoin in the short term. 

BTC Holds Up Well After Geopolitical Crisis

One of them is the fact that Bitcoin has done relatively well in a time of geopolitical scare. Last week, tensions between Iran and Israel escalated after Israel launched unilateral strikes against Iran. The move, which was followed by Iran’s retaliation, saw the world move towards risk-off assets like Gold.

Despite these tensions, BTC did not go down much as opposed to what happened in the past during such events. This is an indicator of two things, both bullish for Bitcoin. The first one is that the kind of investors buying Bitcoin are now long-term holders, not the usual speculators.

The second one is that investors increasingly see Bitcoin as an asset that can hold value in times of uncertainty. As these two value drivers become clearer to investors, the value of Bitcoin could go up because it inspires both institutional and retail investors to buy BTC with confidence.

Institutional Buyers Unrelenting In Their Purchases

Bitcoin could also get a boost because the big institutions leading the way in buying are not relenting. Among these are Strategy and Japan’s MetaPlanet. Michael Saylor of Strategy hinted that the company could be prepping to buy even more BTC. Amid the rising crisis in the Middle East, and when Bitcoin was going down, Saylor posted the price of Bitcoin on X, which many interpreted to mean that he was looking to buy Bitcoin.

The company has already been quite active in buying Bitcoin, as the price appeared weak after failing at $110k. On June 9, the company bought 1045 Bitcoin, pushing its total holdings to 582k. MetaPlanet’s aggressive purchases in Japan have seen its Bitcoin edge past Coinbase. Such aggressive buying under current circumstances could see Bitcoin rally to new highs in the short term.

💥BREAKING:

MICHAEL SAYLOR HINTS AT BUYING MORE BITCOIN

“BIGGER DOTS ARE ₿ETTER.” 🚀 pic.twitter.com/2d5oGHfvV2

— DustyBC Crypto (@TheDustyBC) June 15, 2025

Geopolitical Tensions In the Middle East Easing Up Bullish for Bitcoin

Even better for Bitcoin is that the geopolitical issues that acted on its price last week appear to be fizzling. After a surge in tensions between Israel and Iran towards the end of last week, things are cooling down. Markets have likely priced it in, and risk-on investors are coming back. This is evident in the fact that gold prices are going down intraday while the Nasdaq and other stock indices are gaining upside momentum. As retail money feels more confident that the risk has subsided, capital could flow back to Bitcoin.

Iran & Israel are talking about a ceasefire. The US is making attempts to de-escalate the situation. If there is no further exchange of missiles tonight, we can expect the market to stay calm tomorrow & eventually resume its upward trajectory. pic.twitter.com/73i8IVRqVQ

— RJ Stocks (@RakJhun) June 15, 2025

Technical Analysis – BTC Trending Towards Resistance

After bears were rejected at the $103,709 price level on Friday, it has established strong support at $104,484. Currently, Bitcoin is trending towards the $108,314 resistance. If bulls take control and push Bitcoin through the $108,314 resistance, then a short-term retest of $110k is possible.

On the other hand, if bulls fail, BTC could retest the $104,484 support. A crash through this support could see Bitcoin drop to Friday’s low of $103,709. However, with fears around the Iran/Israel conflict dropping, the odds are higher for a Bitcoin rally through the $108,314 resistance.