Bitcoin hovers near $100,000 as market awaits next big catalyst, says Bitdeer exec

Yahoo

08-02-2025

"Right now, we're just hovering under $100,000 per Bitcoin," said Jeff LaBerge, Head of Capital Markets and Strategic Initiatives at Bitdeer. "I think the term 'crash' is a bit overblown."
Speaking with Rob Nelson on Roundtable, LaBerge addressed the recent market movement, where Bitcoin saw a 10 to 12% drop but remained in a higher range compared to previous months. Despite some volatility, he pointed out that Bitcoin has been relatively stable, trading between the low-to-mid $90,000s and $110,000.
"The market was kind of shocked by the peak seek announcement last week," LaBerge said. "I think everyone's still trying to digest that, and obviously we've got a new administration now. We've got tariffs coming out, tariffs being held back—there's a lot to digest right now."
LaBerge noted that Bitcoin often serves as a "risk proxy for the entire market," reacting swiftly to macroeconomic developments. "It's traded 24/7, so it can be looked at as a flight to quality at times, but often as a risk-on or risk-off asset as well," he noted.
Bitcoin's current price range suggests the market is waiting for a catalyst before its next major move. "I think Bitcoin was sort of repriced earlier this year," LaBerge explained. "We bounced from that 60-70K range and moved up to 90-110K in about a month's time."
While some traders might be concerned about recent swings, LaBerge believes the broader trend remains bullish. "We've got a long way to go—that's my personal belief," he said. "Bitcoin has a lot of utility that's not really been recognized."