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As of June 2, 2025, Bitcoin (BTC) is trading at approximately $105,580, reflecting a modest increase of 1.06% over the past 24 hours. The price has fluctuated between an intraday low of $103,935 and a high of $105,808.
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📊 Market Overview
Bitcoin recently reached an all-time high of $111,980 in late May. Since then, it has experienced a pullback, currently consolidating below the $106,000 resistance level. Technical indicators suggest a weakening bullish momentum:
Support Levels: Immediate support is observed around $103,145, corresponding to the 0.236 Fibonacci retracement level. A breakdown below this could lead to further declines towards the psychological support at $100,000 and potentially $97,600.
Resistance Levels: The $105,000–$106,000 range has acted as a significant resistance zone. A decisive move above this could open the path towards $108,000.
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🔍 Technical Indicators
Moving Averages: Bitcoin has fallen below its 20, 50, and 100 EMA on the 4-hour chart, indicating potential bearish pressure.
RSI (Relative Strength Index): Currently around 43.39, suggesting weakening bullish momentum.
MACD (Moving Average Convergence Divergence): Shows a mild bearish crossover, indicating limited upside in the near term.
Ichimoku Cloud: Bitcoin is trading within a thin cloud structure with flat Tenkan-Sen and Kijun-Sen levels, indicating an absence of momentum.
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🧠 Market Sentiment
Despite the recent correction, long-term indicators remain positive:
Exchange Reserves: Bitcoin exchange reserves have hit an all-time low, suggesting strong accumulation by long-term investors and institutions.
Institutional Adoption: Continued interest from institutional investors and favorable regulatory developments contribute to a bullish long-term outlook.
📅 Outlook for June 2025
Analysts suggest that if Bitcoin can reclaim and sustain above the $106,000 resistance, it may resume its upward trajectory towards $108,000 and beyond. However, failure to hold the $103,000 support could lead to a retest of the $100,000 psychological level.