Analyst: Bitcoin Fundamentals Remain Bullish as Long-term Holders Continue to Accumulate, Forming a "Buffer" Support

On June 1, CryptoQuant analyst Axel Adler Jr stated, "Despite a brief pullback in Bitcoin prices to $103,000–$104,000, the fundamentals remain bullish: exchange reserves continue to decrease, corporate purchases keep pressuring supply, and long-term holders continue to accumulate, creating a 'buffer' below the market. Meanwhile, the macro situation presents mixed signals: the slowdown in PCE inflation eases some of the Federal Reserve's policy pressure, but tariff uncertainties and rising yields reinforce a 'risk-averse' atmosphere, dampening market growth appetite. The baseline scenario for next week is for Bitcoin prices to consolidate between $103,000 and $110,000 until new catalysts emerge. If trading volume increases and momentum breaks through 20%, accompanied by a break above $110,000, it could confirm the market's readiness to test the $115,000–$120,000 range. Conversely, if net capital inflow turns positive and prices fall below $100,000, it may indicate a deeper correction."