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Bitcoin ($BTC) has made a strong recovery after the recent $5 billion short squeeze, but Charles Edwards, founder of Capriole Investments in an interview with John Gillen said the next big move for $BTC will depend on what happens with U.S. policy, the Federal Reserve and institutional demand. He remains positioned long, yet sees $70,000 as the level Bitcoin must protect before the bullish outlook can continue.
You Can’t Be Too Bearish, Above $70K
Edwards says Bitcoin has already broken above two important levels, $65,000 and $70,000. For now, staying above $70,000 would keep the market looking bullish, while $71,000 is the next key level to confirm a stronger trend. The bigger support is around $60,000, so falling below $70,000 could weaken the current setup.
Meanwhile, institutional buying is adding more support, with institutions reportedly buying around 160% of the Bitcoin produced by miners each day, mainly through spot ETFs.
We’re Probably Getting Some Hikes This Year
The Federal Reserve remains one of the main factors for Bitcoin. Market pricing currently points to at least one more rate hike this year, according to Edwards.
He expects that view to change depending on inflation, oil prices and the Iran conflict. If financial conditions remain supportive, crypto can continue higher. More Fed tightening could make the path toward $100,000 harder.
I Don’t Think We’re Going to Get an All-Time High Until Something Changes
Edwards sees Bitcoin moving toward the $90,000 range and possibly around $100,000, but he does not expect a clear new all-time high without a fresh catalyst.
That catalyst could come from the U.S. government officially buying Bitcoin, a major move involving the Treasury General Account, or a clear two-year plan from Bitcoin developers to address quantum computing risks.
He believes even progress on quantum protection could lift prices because it would remove a major long-term concern.
$HYPE Has Got a Few Things Going
Edwards is also watching the altcoin market. Hyperliquid’s $HYPE stands out because of its tokenomics, strong revenue growth and daily token buybacks. He says the protocol has built a product that is developing quickly and allows users to trade U.S. equities without traditional KYC requirements.
He also sees Ethereum, Ethena and Zcash fitting the broader setup, with several altcoins recovering from major support levels.
But Edwards is not treating the altcoin market like the 2017 or 2020 cycles. AI-driven hacks, quantum risks and vulnerabilities across DeFi remain major concerns. He prefers projects with stronger token economics and real revenue rather than coins facing heavy unlock pressure.