Bitcoin Faces $100K Retest Fears Despite Record Monthly Close — 5 Key Trends to Watch This Week
The Bitcoin bull market narrative is being put to the test as traders weigh a potential $100K retest against the backdrop of the asset’s strongest monthly close in history.
Bitcoin (BTC) kicked off June with a record-high monthly close, yet market sentiment remains mixed.
Traders are now watching five key trends as the leading cryptocurrency navigates between sustained institutional selling, weakening macro indicators, and potential new highs.
1. $100K Retest Looms Despite Monthly Milestone
Bitcoin closed May with an 11% gain, marking its highest monthly close ever near $105,700.
However, bearish divergence in the Relative Strength Index (RSI) and persistent volatility have sparked concerns over a possible correction toward the $100,000 support zone.
“Weekly bearish divergence locked in — and a potential bearish retest forming,” trader Jelle noted.
Others, including CrypNuevo, forecast a rebound from $100K to $113K, eyeing concentrated order book liquidity above current levels.