Daily Cryptocurrency Analysis: Bitcoin (BTC)

Market Performance and Analysis:

According to the latest data as of June 23, 2026, Bitcoin (BTC) has experienced a sharp deleveraging storm in early June and is now trading within a critical consolidation zone, battling between bulls and bears.

Price Dynamics: Currently trading in the $63,900–$64,200 range (approximately 20,700 TWD), after retreating from the $126,080 all-time high set in October 2025, the market is in a mid-term recovery phase.

Technical Outlook: Bitcoin dipped near $61,500 in early June to find solid support, which is currently defended strongly by long-term buy orders in this demand zone. On the daily chart, BTC is temporarily trading below the 50-day and 100-day moving averages, with a neutral short-term trend; the first major resistance is at $66,000. If a volume-backed recovery occurs, it could challenge the strong resistance zone above $67,000.

Macro and Fundamental Dynamics:

Vacuum Period After Four Major Bearish Factors: The downward pressure from recent high levels mainly stems from: the persistent high inflation environment indicated by the US May CPI (4.2%) keeping the Fed hawkish, rising US-Iran geopolitical tensions boosting energy inflation expectations, and the historic record of 13 consecutive days of net outflows (about $4.4 billion) from spot ETFs from mid-May to early June. The worst phase has passed; after the FOMC meeting on June 17, market negativity has eased, and the market has shifted into a consolidation phase.

Institutional and Corporate Resilience: Despite short-term bearish sentiment, long-term "smart money" has not exited. On-chain data shows that large whales absorbed about 125k BTC in June against the trend, controlling 35.82% of the supply. Meanwhile, MicroStrategy announced on June 8 that it had added another 1,550 BTC, bringing its total holdings to 846k BTC. The accumulation by corporate treasuries continues to tighten the available spot supply.

New Drip ETF Regulations and Legislation Expectations: Franklin Templeton has submitted a new ETF application to the SEC (expected to take effect in September), allowing direct reinvestment of US stock dividends (DRIP) into Bitcoin. Additionally, the US Senate is actively pushing the CLARITY Act, which, if passed, will officially establish BTC as a compliant commodity, opening broader allocation channels for long-term Wall Street funds.

Disclaimer: For informational purposes only, not investment #Bitcoin advice.