Bitcoin Traders Divided: $94K Dip or $114K Breakout Next for BTC?

As Bitcoin trades sideways near $104K, crypto investors are sharply split on whether the next big move will be a breakout to $114,000 or a dip back to $94,000. With market sentiment turning cautious, uncertainty reigns over whether the world's largest cryptocurrency is poised for another all-time high or facing a short-term pullback.

Bitcoin Poll Sparks Debate Over Next Price Target

A recent poll on X (formerly Twitter), conducted by crypto analyst Matthew Hyland, garnered over 1,300 responses. The results revealed a near-even divide:

• 50.2% of respondents believe Bitcoin is headed for a correction to $94,000

• 49.8% are betting on a breakout to $114,000, which would mark a new all-time high

As of writing, Bitcoin (BTC) is trading around $104,522, according to CoinMarketCap. A move to $94,000 would represent a 10% drop, while $114,000 would deliver a 9% gain, surpassing the previous record of $111,940 set on May 22.

Geopolitical Tensions & Flat Markets Weigh on BTC

Market volatility continues to be influenced by global geopolitical risks. Last week’s airstrikes by Israel on Iran rattled crypto markets, pulling Bitcoin briefly down to $103,000. Tensions escalated further as former U.S. President Donald Trump issued aggressive statements against Iran’s leadership, fueling additional uncertainty.

The geopolitical unrest has compounded the sideways action already gripping both crypto and traditional markets:

• The S&P 500 is nearly flat, down 0.48% over the past five days (as of June 18)

• MicroStrategy (MSTR) shares are down 10.74% over the past 30 days

Bitcoin is down 2.09% over the past 30 days. Source: CoinMarketCap

Read More: Bitcoin Traders Overstate the Impact of US-Led Tariff War on BTC Price

Sentiment Shifts to Neutral as Bitcoin Stalls

The Crypto Fear & Greed Index, a widely watched sentiment gauge, has slid from “Greed” back to “Neutral,” posting a score of 54/100 as of June 20. This reflects rising caution as Bitcoin consolidates within a tight range.

Despite the subdued price action, institutional interest remains strong. U.S.-based spot Bitcoin ETFs recorded $388.3 million in inflows on Wednesday, marking their eighth consecutive day of fresh capital.

Bear Market Debate: Is Crypto Still Cyclical?

Opinions remain split on Bitcoin’s broader market trajectory. Michael Saylor, co-founder of MicroStrategy, claimed earlier this month that bear markets are "a thing of the past" for Bitcoin.

Yet others aren’t so convinced. Prominent trader Rekt Capital countered with a reminder that “it’s very likely one will occur after this bull market.” Some analysts predict BTC could push into the $130K–$135K range in Q3, while BitMEX co-founder Arthur Hayes is eyeing an ambitious target of $250,000 by year-end.

Conclusion: Caution and Optimism Collide

With nearly half of the crypto community expecting a correction and the other half betting on a surge, Bitcoin’s next move is as uncertain as ever. While macroeconomic headwinds and geopolitical tensions persist, institutional demand remains a strong tailwind.

As Bitcoin sits at a crossroads, all eyes are on whether it will dip to $94K or break new ground at $114K.

Read More: Bitcoin Trader Flips $1.25B Long to Short as BTC Dips