Bitcoin's recent price movements show strength, approaching the $108,500 mark with a 3.5% rise between June 7 and June 9. Despite this, professional traders remain cautious, indicated by BTC derivatives metrics and ongoing macroeconomic tensions. Bitcoin's gains are limited by its strong correlation with stocks, currently at 82%, and concerns over the US economy. While some analysts predict surges due to an impending $4 trillion increase in US debt, the futures market suggests hesitance, driven by macroeconomic signals. The long-to-short ratio at OKX indicates that long positions outnumber short positions significantly, although this does not suggest a price crash. Despite potential for growth, downward pressures will persist if confidence in the US fiscal stability weakens, alongside global trade war concerns and high interest rates, capping Bitcoin's near-term upside.

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