People love round numbers, and Bitcoin (BTC 0.25%) is a notable one, having reached $100,000 late in 2024. After some volatility, something you'll see occasionally when you invest in cryptocurrencies, Bitcoin has recrossed the $100,000 mark and is up 8% during the past month alone.
Where Bitcoin's price goes tomorrow, or next week, is anyone's guess. However, some exciting catalysts are lining up at the right time that could send Bitcoin's price higher.
Here are four reasons Bitcoin could soar in June.
1. Investor enthusiasm has risen since Bitcoin's price hit $100,000
It's remarkable to think about how far Bitcoin has come. Bitcoin's price crossed the $100,000 marker roughly 15 years after an early Bitcoin investor famously traded 10,000 bitcoins for a couple of pizzas. The Motley Fool conducted research that found that 30% of respondents who had never owned cryptocurrencies were more likely to invest for the first time due to Bitcoin hitting $100,000.
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The Motley Fool's research also found that 68% of cryptocurrency investors surveyed believe that Bitcoin's price will reach $200,000 in 2025. Market sentiment has a direct impact on Bitcoin's price movement, so such high enthusiasm bodes well for Bitcoin's current momentum.
2. Government spending takes a turn in Bitcoin's favor
The Trump administration and Elon Musk created the Department of Government Efficiency (DOGE) to help reduce federal spending. However, pushback from politicians and the courts has effectively thwarted DOGE's efforts, which also turned out not to do much to reduce spending. Musk has stepped back from his government role, and the looming One Big Beautiful Bill, the Trump administration's budget bill, will likely continue the U.S. government's pattern of running a fiscal deficit.
Bitcoin is a popular anti-inflationary investment. After months of headlines about DOGE's efforts, the pivot back to the government's overspending ways is likely to continue fanning the flames of inflation, which is a tailwind for Bitcoin's price.
CRYPTO: BTC
Key Data Points
3. Trump's latest sign of Bitcoin support
President Donald Trump campaigned on cryptocurrency support, and followed through with an early executive order to establish a strategic Bitcoin reserve. In late May, Trump Media & Technology Group, the parent company of Trump's Truth Social media app, announced a deal to raise $2.5 billion that will help the company begin accumulating Bitcoin.
The Motley Fool's 2025 Cryptocurrency Investor Trends Survey found that Trump's public support for Bitcoin and cryptocurrencies moves the needle, and this announcement is a fresh instance of him putting his weight behind it.
4. Tariff shock is subsiding
Bitcoin rallied in late 2024 on the transition to a more pro-cryptocurrency Trump administration. However, Trump dumped cold water on Bitcoin's price action in early April by announcing aggressive tariffs that shocked and spooked the market. The VIX Index, a commonly used indicator of market fear, spiked to its highest mark since the COVID-19 pandemic.
Many investors see Bitcoin as a riskier asset than many others, so a fearful market generally works against Bitcoin's price. The market has since calmed down, despite Trump extending and retreating on tariffs on multiple occasions, and different courts issuing conflicting rulings.
Bitcoin has rallied on the perception that such high tariffs seem increasingly unlikely. Things could take a turn for the worse, but assuming that doesn't happen, a calmer market can help Bitcoin continue its rally.
