Bitcoin Sees a 30% Increase as Q2 Closes, New Highs on the Horizon

The second quarter proved to be fruitful for leading cryptocurrencies. Bitcoin’s price surged by nearly 30%, while Ethereum saw a rise of 36%.

However, June brought a slowdown in momentum—digital gold gained only 2.5%, and the second-largest cryptocurrency increased by 1.5%.

On June 29, Bitcoin’s price surpassed $108,500, reaching a two-week high.

At the time of this writing, Bitcoin is trading at $106,751, reflecting a 0.9% decline over the past day.

This uptick occurred amid low liquidity and efforts by major players to liquidate the short position of trader [James Wynn](https://forklog.com/news/voshozhdenie-neogriftera-kto-takoj-dzhejms-uinn-i-pri-chem-zdes-endryu-tejt).

Wynn had opened a short position worth $13.9 million. Market participants pushed the price toward his liquidation level around $108,630. As a result, Wynn closed his short position prematurely and opened a long position for 60 BTC.

A trader operating under the name Autumn Riley pointed out a bullish pattern on the 15-minute chart.

According to her, the price continues to create higher lows, indicating a weakening of selling pressure.

Another trader, known as BitBull, highlighted the appearance of a «golden cross» on the [MACD](https://forklog.com/exclusive/polnoe-pogruzhenie-v-tehanaliz-ostsillyatory-tehnicheskie-indikatory-fleta) indicator.

He interprets this as a signal of bullish control and anticipates an increase in volatility once the markets open.

Analyst Rekt Capital noted that Bitcoin is nearing its highest weekly close ever, with the mark just above $109,000.

He believes that sustaining above this level would pave the way for new all-time highs.

As a reminder, on June 26, CryptoQuant analyst Axel Adler Jr. presented a «conservative» price forecast for the leading cryptocurrency, predicting a rise to [$160,000](https://forklog.com/news/issledovatel-sprognoziroval-sderzhannyj-rost-bitkoina-do-160-000).