Bitcoin may be on a path to $100,000 by June as two key catalysts align: renewed buying power from Michael Saylor's Strategy and falling stablecoin dominance.
Strategy's preferred stock, STRC, has reclaimed its $100 par value. This restores a key funding mechanism for Bitcoin purchases. Analysts estimate this unlocks enough capital for the company to acquire at least 3,127 BTC this week-nearly 235% of Bitcoin's newly mined supply.
Since February, Strategy has added roughly 101,700 BTC, boosting its total holdings to nearly 819,000 BTC. BTC has risen more than 40% in that period.
Strategy's weekly BTC buying estimates via STRC stock sales.
At the same time, the combined dominance of Tether's USDT and Circle's USDC is showing signs of topping near the 10%-11% resistance zone. Past cycles show that when stablecoin dominance falls, capital rotates into Bitcoin. For instance, a 70% drop in stablecoin dominance from 2022-2024 coincided with a 600% Bitcoin rally.
Analyst MikybullCrypto noted: "Reaching $100k this quarter seems likely."
Net USDT and USDC's crypto market dominance monthly chart.
However, risks remain. Bitcoin is facing resistance near its 200-day EMA at $82,000. A failure to break above could trigger sell-offs, with some patterns suggesting a potential drop below $70,000 by June.