Bitcoin's upward trajectory stalled on June 13 as markets anticipated the release of U.S. inflation data. Despite initially reaching $70,000, BTC/USD plummeted to lows of $66,983. The Federal Reserve's meeting and Chair Jerome Powell's subsequent comments triggered a sell-off in risk assets, including Bitcoin. Powell's emphasis on maintaining a restrictive policy and downplaying the possibility of early interest rate cuts spooked investors. The market reduced its bets on a rate cut at the Fed's September meeting, and analysts believe that Bitcoin's price remains **rangebound** until it establishes support at **$69,000**. Trading resource Material Indicators highlights the role of **Bitcoin whales** in manipulating price volatility by strategically adjusting order book liquidity.

<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDYvMDIxM2U4OWItZDY3NS00ZGQ0LWE5M2ItNmExZDIyYjhjZWUzLmpwZw==.jpg"></p><p>Bitcoin bulls run out of steam yet again as BTC price action returns to its pre-CPI position.</p>

William Suberg 28 minutes ago Bitcoin gives back gains as 'hawkish' Fed costs bulls a trip to $70K Bitcoin bulls run out of steam yet again as BTC price action returns to its pre-CPI position. 246 Total views Listen to article 0:00 Market Update Own this piece of crypto history Collect this article as NFT Join us on social networks Bitcoin (BTC) retraced the prior day’s gains on June 13 as markets braced for the next round of United States inflation data.BTC/USD 1-hour chart. Source: TradingViewBitcoin fails to hold CPI upside as $70,000 fadesData from Cointelegraph Markets Pro and TradingView showed BTC price trajectory reversing after the daily close after BTC/USD briefly touched $70,000.The subsequent rout produced new lows of $66,983 on Bitstamp, with Bitcoin down around 1.3% on the day at the time of writing.Excitement had built thanks to lower-than-expected readings from the Consumer Price Index (CPI), while the Federal Reserve’s meeting on interest rates kept policy predictably restrictive.Chair Jerome Powell’s accompanying commentary, however, appeared to spook risk assets as he reiterated that interest rate cuts sooner rather than later were not yet being discussed.“We think policy is restrictive. And we think, ultimately, that if you just set policy at a restrictive level, eventually you will see real weakening in the economy,” he told reporters during a press conference after the event, quoted by CNBC and others. “So, that’s always been the thought is that, you know, since we raised rates this far, we’ve always been pointing to cuts at a certain point.”Fed target rate probabilities for September meeting. Source: CME GroupMarkets reduced bets of a cut at the Fed’s September meeting by around 10%, per data from CME Group’s FedWatch Tool.“Today's FOMC definitely more hawkish than anticipated,” financial commentator Tedtalksmacro reacted on X (formerly Twitter). “However, the market had already priced for this scenario leaving the real takeaway from today to be that disinflation continues (via CPI data). That's pretty clear from how stocks have moved... Crypto will follow.”Analysis: $69,000 is key to 'rangebound' BTC priceAnalyzing BTC price dynamics, trading resource Material Indicators revealed the role of Bitcoin whales in the day’s price volatility.Related: Bitcoin whale accumulation reaches pre-2020 bull run levels — Is BTC set to break $70K?“Watching Bitcoin completely retrace the morning pump is more evidence that these Killer Whale Games are playing out precisely as I've been outlining in my analysis since Friday,” an X post argued.Material Indicators referred to ongoing shifts in order book liquidity, luring price both up and down, using external factors such as U.S. macro data as a stage.Zooming out, it continued, the picture remained the same — $69,000 was the key level to establish as support.“Everything you need to know is in the charts,” the post concluded. “IMO, what matters most is that we don't print a lower low, and that BTC eventually validates an R/S Flip at $69k. Until then, BTC will remain range bound.”BTC/USDT order book liquidity on Binance. Source: Material Indicators/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.#Bitcoin #Federal Reserve #Bitcoin Price #Markets #Inflation Add reaction

Bitcoin Bulls Lose Momentum as Fed's 'Hawkish' Tone Dampens $70K Hopes

## The Crypto Skepticism of Warren Buffett Continues

Warren Buffett, the billionaire investor and long-time CEO of **Berkshire Hathaway**, is set to step down at the end of the year. Despite his departure, the company's longstanding skepticism towards **Bitcoin (BTC)** and other cryptocurrencies is unlikely to change under his successor, **Greg Abel**.

![Warren Buffet in Washington D.C. in 2015](https://cdn.sanity.io/images/s3y3vcno/production/4dd92bc70c2a2165d943a827d96d707b7d58b191-3000x2000.jpg?auto=format)

### Key Points to Understand:
- **Warren Buffett** has famously labeled Bitcoin as "**rat poison squared**" and a **gambling token**. His views have significantly shaped Berkshire Hathaway's stance on digital assets.
- **Greg Abel**, who is taking over as CEO, is expected to maintain the company's traditional stance on crypto, aligning with Buffett's values.
- Analysts believe that there will be no substantial shift in Berkshire Hathaway's approach to cryptocurrencies, despite Abel's leadership.

### The Transition of Power
During a recent shareholders' meeting, Buffett hinted at a possible diversification into other currencies if the U.S. economy weakens. However, he made it clear that this does not extend to Bitcoin, which he continues to criticize.

Meyer Shields, managing director at **KBW**, stated, "I would be very surprised if there’s a meaningful change in Berkshire’s attitude toward Bitcoin." He emphasized the distinct difference between Buffett's views on technology stocks and his opposition to cryptocurrencies.

Macrae Sykes, a portfolio manager at **GAMCO Investors**, praised the way Buffett managed the announcement of his succession, allowing him to engage with shareholders without the stress of a leadership transition looming over discussions.

### Conclusion
Buffett will remain as chairman of the board, providing a stabilizing force for Berkshire Hathaway. His continued presence reassures shareholders that the company will not veer too far from its traditional investment principles, particularly regarding cryptocurrency.

*Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full [AI Policy](https://www.coindesk.com/ethics).*

The Oracle's crypto skepticism runs deep and successor Greg Abel is unlikely to chart a new course.

Warren Buffett Steps Down: What This Means for Bitcoin's Future at Berkshire Hathaway

## The Legendary Bitcoin Faucet is Back

A **Bitcoin Faucet**, reminiscent of the original created by **Gavin Andresen** in 2010, is making a comeback, thanks to **Charlie Shrem**. This faucet famously distributed **5 BTC per user for free**, which is now worth nearly **$500,000 per transfer**.

![dripping tap faucet (CoinDesk Archives)](https://cdn.sanity.io/images/s3y3vcno/production/59663c31de60d043d007e5a754efa0624aab1684-1500x1000.jpg?auto=format)

### What to Know:
- The original faucet was a way to onboard new users to the Bitcoin network when buying or mining BTC was cumbersome.
- The new faucet site is not yet operational and currently holds **no Bitcoin**.

**Charlie Shrem**, an early Bitcoin developer, teased the relaunch earlier this week. The faucet's original concept was to hand out Bitcoin for free to anyone who could solve a simple CAPTCHA, helping thousands of early users get their first exposure to Bitcoin.

![21million.com](https://cdn.sanity.io/images/s3y3vcno/production/2a707ce3d338d49a1251159fdd5134143d6cd4f8-1853x699.png?auto=format)

## Historical Significance
The faucet was funded with **1,100 BTC** by Gavin Andresen, aiming to grow the network organically. It successfully provided many their first Bitcoin, distributing small fortunes for free. Although the faucet eventually shut down with payouts dwindling to fractions of a BTC, its cultural impact remained significant as BTC prices surged over the following decade.

The original faucet distributed 5 BTC per user for free, which is now worth nearly $500,000 per transfer.

Unbelievable Comeback: The Legendary Bitcoin Faucet Returns to Give Away Free BTC!

Bitcoin (BTC) opened the trading week **flat above $94,000**, as traders eagerly await news from Beijing regarding a potential **U.S.-China trade deal**. The **CoinDesk 20 (CD20)**, which tracks major digital assets, was down **1.5%**, trading below **$2,700**. 

**Nick Ruck**, director at LVRG Research, shared insights, stating, "XRP and Bitcoin bounced back from the tariff shocks in April, but have yet to make a significant movement upwards. Investors may be overly cautious about risk assets such as crypto due to the current U.S. macroeconomic climate, despite Bitcoin's trend breaking away from its correlation with U.S. equities."  

Major markets in Asia were closed on Monday, including **Hong Kong, mainland China, Japan, and Korea**, which led to thinner liquidity and trading volumes. Despite this, the **Chinese yuan** strengthened to a six-month high near **¥7.19**, and regional currencies rallied. The **New Taiwan Dollar (NTD)** surged to a two-year high around **NT$29.6** per U.S. dollar, driven by **$1.4 billion** in foreign equity inflows and rising confidence in Taiwan's tech sector after **TSMC** reported a **60% jump in quarterly profits**. 

The **market is cautiously optimistic** about the potential for a trade deal, with **Polymarket** prediction markets giving a **21% chance** that a deal will be reached by June and a **47% chance** that the White House will lower tariffs by the end of May. 

### BTC Range Bound?  
Bitcoin is struggling to break through the **$93,000-$95,000 range**, an area that aligns with both the short-term holder cost basis and the **111-day moving average**, which is a crucial battleground for market momentum. According to a recent report by **Glassnode**, these levels represent a critical inflection point that must be upheld. Failure to stabilize above these levels could push the price back into a consolidation range, subjecting many investors to meaningful unrealized losses. 

However, if Bitcoin can overcome the resistance around **$95,000-$98,000**, the path toward new price discovery and possibly a new all-time high could be clear. Ruck remains optimistic about the long-term surge in crypto prices as institutional adoption deepens with **Real World Asset (RWA)** launches and integrations with crypto-native platforms.

BTC traders are cautiously optimistic that a deal can be reached and traders are taking a breather.

Bitcoin Surges Above $94K: Will U.S.-China Trade Talks Ignite a Market Rally?

The **Bitcoin price** has seemingly hit its peak in the current cycle, beginning a downward trend after achieving a new all-time high of **$108,786** at the start of the year. However, recent bullish momentum suggests a potential shift as Bitcoin aims to reclaim the **$100,000** mark.

### When Will BTC Price Reach The Cycle Top?

In a recent post on the X platform, crypto analyst **Brett** presented an intriguing analysis of Bitcoin's price structure and its possible trajectory for the remainder of the cycle. This analysis examines BTC's price journey from the cycle's **bottom to present** and then from **present to top**.

Using insights from the previous two cycles, Brett calculated the number of days it took for Bitcoin to move from the bottom to the present and from there to the top. The **blue box** in the chart below illustrates the time elapsed since the last bottom, while the **green box** represents the time from the present to the cycle tops.

![Bitcoin price](https://s3.tradingview.com/news/image/newsbtc:c7869b74b094b-93f8ff8a72bdf5745a37c09c4795945e-resized.jpeg)

Brett highlighted that the time span from the Bitcoin price bottom in **2022** to today is exactly **903 days**. By applying this same period to the previous cycles, starting from the **2015** and **2018** bottoms respectively, he found that Bitcoin reached its cycle peak **161 days** after the 903-day mark. In **2017**, it took Bitcoin **161 days** to reach its then-all-time high of around **$16,000**, and in **2021**, it peaked at approximately **$69,000** after the same duration.

Given this historical context, Brett suggests that the current cycle's peak for Bitcoin could be as little as **161 days away**, potentially placing the cryptocurrency's next peak on **October 11, 2025**.

However, there are ongoing debates regarding Bitcoin's adherence to the typical cycle theory. Despite the bull run appearing to end at the beginning of **2025**, the recent positive price movements challenge the expected cyclical behavior.

### Bitcoin Price At A Glance

As of this writing, BTC's price is around **$96,500**, reflecting a nearly **1% decline** in the past 24 hours.

The Bitcoin price appeared to have reached its top in this current cycle, embarking on a downward trend after notching a new all-time high of $108,786 at the beginning of the year. The story seems to be changing again for the premier cryptocurrency, as it builds on recent bullish momentum and looks…

When Will Bitcoin Reach Its Next Peak? Insights from an Analyst's Timeline

## Bitcoin Prices on the Rise

Bitcoin and cryptocurrency prices are eagerly awaiting the next **catalyst** after a significant surge into May, with Bitcoin nearing **$100,000** per coin. This surge has been attributed to various factors, including shifts in regulatory landscapes and market sentiments.

![Donald Trump, David Sacks, Bitcoin Price](https://imageio.forbes.com/specials-images/imageserve/6817059f751b2c49398ab714/Donald-Trump--Trump--David-Sacks--bitcoin--bitcoin-price--crypto--bitcoin-price/0x0.jpg?crop=2830,1983,x625,y160,safe&height=498&width=711&fit=bounds)

## Predictions from Trump's Crypto Czar

**David Sacks**, the crypto czar under U.S. President **Donald Trump**, has made waves with his prediction of a forthcoming **“Trump boom.”** He stated, “We’ve ended the war on crypto, and I think we’re trying to stop the regulatory capture that benefits large incumbents.” This statement reflects a broader optimism about the future of Bitcoin and the crypto market as a whole.

Sacks elaborated on his vision during an episode of the *All In Podcast*, suggesting that recent economic changes will take time to materialize but will ultimately lead to a substantial boom in Bitcoin prices.

## Market Dynamics and Federal Reserve Actions

Recently, the **Federal Reserve** rolled back regulations that previously limited Wall Street's involvement in the crypto space. This move, alongside the Trump administration's push for stablecoin legislation, is expected to **rewire the global financial system**.

Despite the Bitcoin price dropping from an all-time high of nearly **$110,000** during Trump's presidency, current market conditions are showing signs of recovery. The recent dip has been overshadowed by fears regarding the future of the **U.S. dollar**, which has led many to view Bitcoin as **“digital gold.”**

**Matt Mena**, a crypto research strategist at 21Shares, noted that the **$95,000** level was a critical resistance zone, and breaking through it has accelerated momentum in the market. He remarked, “This renewed risk-on mood is setting the stage for Bitcoin to make a run at $100,000.”

## Bullish Sentiments Abound

Investor enthusiasm is palpable, with predictions suggesting Bitcoin could soar to **$200,000 or even $250,000 this year**. **Joe Burnett**, director of market research at Unchained, expressed that if Bitcoin breaks new all-time highs soon, the market could experience a **parabolic** surge.

The current **bullish sentiment** in the market is reflected in the increasing confidence among investors, signaling a potential shift in the crypto landscape as it aligns with broader economic trends.

U.S. president Donald Trump’s crypto czar David Sacks has predicted a coming “Trump boom"...

Trump's Crypto Czar Predicts a Major Bitcoin Boom as Prices Surge Towards $100,000!

### Warren Buffett Steps Down as CEO
Warren Buffett, the legendary investor, has announced that he will step down as CEO of **Berkshire Hathaway** by the end of the year, with **Greg Abel** set to take over leadership. Under Buffett's stewardship, Berkshire achieved an impressive **20% compounded annual gain** from 1965 to 2024, significantly outperforming the S&P 500.

### Saylor's Bold Comparison
**Michael Saylor**, Strategy Executive Chairman, has boldly stated that Berkshire Hathaway is the **Bitcoin of the 20th century**. He expressed this sentiment on May 3, coinciding with Berkshire's annual shareholder meeting in Nebraska. Saylor tweeted:  
> "Berkshire Hathaway is 20th Century Bitcoin."  

Buffett, at 94, has led the company for **60 years**, making it a **$1.1 trillion conglomerate** and a hallmark of disciplined, long-term investing.

### Diversification and Future Plans
During the shareholder meeting, Buffett hinted at the possibility of diversifying into other currencies, stating that Berkshire avoids holding assets tied to collapsing currencies. He remarked:  
> "We wouldn’t want to be owning anything that we thought was in a currency that was really going to hell."  

Buffett emphasized Berkshire’s **opportunistic investment approach**, revealing that the company is considering significant deals that could amount to **$100 billion** under the right conditions.

### Bitcoin: A Contradictory Stance
Despite his long-standing criticism of Bitcoin, famously calling it **“rat poison squared,”** Buffett has indirectly benefitted from the cryptocurrency market through Berkshire's portfolio companies. Since 2015, Bitcoin has outperformed Berkshire Hathaway significantly, delivering over **780% gains** since 2020 compared to approximately **150%** for Berkshire.  

Berkshire holds a substantial stake in **Bank of America**, which has invested in several spot Bitcoin ETFs, including **BlackRock’s iShares Bitcoin Trust (IBIT)**. Additionally, Berkshire has invested over **$1 billion** in **Nu Holdings**, a Brazilian digital bank that offers crypto services, and holds shares in **Jefferies Financial Group**, which promotes Bitcoin as a hedge against inflation.  

At the time of writing, Bitcoin was trading above **$96,800**, showcasing its resilience in the market.

Warren Buffett announces succession plan, stepping down as Berkshire CEO, with Greg Abel set to take over leadership by year-end.

Bitcoin Bulls Lose Momentum as Fed's 'Hawkish' Tone Dampens $70K Hopes

Summary:

Bitcoin retraces gains after reaching $70,000, falling to $66,983.

Fed's 'hawkish' stance dampens market sentiment as Chair Powell reiterates restrictive policy.

Market reduces bets on a September rate cut.

Bitcoin whales influence price volatility through order book liquidity adjustments.

Analysts emphasize the importance of $69,000 as a key support level.

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When Will Bitcoin Reach Its Next Peak? Insights from an Analyst's Timeline

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