After now nine consecutive weeks of red weekly candles, Bitcoin (BTC) recorded a green weekly candle on June 5. At the beginning of this week, buyers were able to keep the momentum going with a strong weekly opening, sending the BTC price to $31,800. In addition to Bitcoin, other altcoins such as Ether and Ripple are also seeing good growth.

Depending on the Consumer Price Index (CPI), which will be released on June 10, this could increase volatility until investors react significantly to it. The next actions of the U.S. Federal Reserve are also a factor that will affect volatility and traders’ reaction. However, analysts are still divided about Bitcoin’s next developments.

Can the bulls hold higher levels or will the bears pull the price down?