Bitcoin: Will it go to $70,000 or $42,000? Experts' forecasts diverge

▲ Bitcoin (BTC) ©Godasol

As Bitcoin (BTC) recovers to $61,000 and the cryptocurrency market shows a rebound, attention is focused on whether this upward trend can continue. However, with uncertainties such as interest rates and geopolitical risks still present, forecasts regarding the market's direction are divided.

According to the cryptocurrency specialized media Watcher.Guru on July 3 (local time), Bitcoin traded above $61,000, and major cryptocurrencies also rose in tandem. The media analyzed that while recent rebounds have improved investor sentiment and market atmosphere, the sustainability of the upward trend depends on the macroeconomic environment.

The background for this rebound was attributed to Kevin Warsh, Chairman of the US Federal Reserve (Fed), stating at the European Central Bank (ECB) forum held in Sintra, Portugal, that inflation concerns had eased. This remark acted as a factor boosting investment sentiment for risky assets. However, the media pointed out that inflation concerns have not been entirely resolved. In May 2026, the US Consumer Price Index (CPI) recorded 4.2%, and the Federal Reserve froze its benchmark interest rate. The market is also raising the possibility of additional interest rate hikes within the year, and it explained that if interest rates actually rise, it could burden the cryptocurrency market.

Geopolitical risks also remain a variable. The media analyzed that with the conflict between the US and Iran unresolved, international oil prices could rise further, which could burden the overall economy and negatively impact the cryptocurrency market.

Experts' opinions on Bitcoin's future outlook were also divided. Anthony Scaramucci predicted that the current period is already a bottoming phase and that Bitcoin could reach $70,000 by July 2026. In contrast, China's Zhang Zhuoer anticipated that Bitcoin would fall to $42,000-$44,000 in late 2026 before forming a bottom. The media assessed that if Bitcoin falls to the $42,000 level, it could trigger a massive sell-off across the entire cryptocurrency market, but for now, both the possibility of the rebound continuing and the possibility of further correction remain open.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*