As Bitcoin begins June, it faces notable volatility, with the highest-ever monthly close contrasting with concerns of a $100,000 retest. Following a significant weekly price drop of 8%, BTC successfully closed above a key support level from December 2024 at approximately $105,700, despite bearish divergence on the relative strength index (RSI) indicating potential downward pressure. Economic factors such as labor market data and Federal Reserve policy also play crucial roles, leading to scrutiny of interest rates and inflation. Investor sentiment has shifted, with stablecoin outflows and reduced long-term holder activity signaling a market in transition. Bitcoin whales are also reallocating their holdings, indicating profit-taking actions. Analysts suggest that if Bitcoin's price can maintain support near $100,000, it may rally towards a target of around $120,000, but any future movements will depend on new retail investment and market sentiment. Overall, the market is at a critical juncture as it navigates potential profit-taking against bullish indicators from macroeconomic trends.

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