Economist Alex Krüger, who closely follows the cryptocurrency market, has predicted a target price for Bitcoin of $120,000 by June. In a statement on his social media account, Krüger noted two important developments behind this increasing expectation.

First of all, Krüger stated that the $5 billion FTX distribution scheduled for May 30 could create significant momentum for the market and noted that this time, large creditors would receive payment. He claimed that this development could be a positive catalyst for the market.

On the other hand, Krüger stated that the delay of customs duties for 90 days, which will end on July 9, could put pressure on the market and mentioned, "Depending on the flow of news from the White House, the market may start to worry about customs duties again 2-3 weeks before."

On the other hand, another analyst, Joao Wedson, argued that interpreting recent price movements as institutional demand rhetoric could be misleading. Wedson said, “Relax, the price is just liquidating the short sellers. It liquidated the short sellers last week. The market always aims for liquidity,” and stated that the current volatility is normal.