$BTC Bitcoin Price Monitoring: The Market Stagnates at $104,000 - What is the Next Step?
The price of Bitcoin was between $103,997 and $104,281 over the last hour on June 1, 2025, with a market capitalization of approximately $2,060 billion. Over the last 24 hours, the leading cryptocurrency recorded a trading volume of $15.8 billion within an intraday range of $103,127 to $104,947 per bitcoin, reflecting a tight consolidation phase following a notable yet modest correction.
The hourly chart shows that Bitcoin is entering a consolidation setup between $103,127 and $104,947, with a slight increase in volume on the green candles. This indicates initial accumulation and a possible shift in short-term sentiment. Technical patterns suggest the formation of an inverted head and shoulders pattern – a bullish reversal – hinting at a potential breakout above the $104,900 to $105,000 area. If this scenario is confirmed with significant volume, it could serve as an entry point for short-term traders. However, any breakout below $103,000 would invalidate the bullish thesis and suggest a risk of further decline.
#MyCOSTrade #CEXvsDEX101 #TradingTypes101 #SaylorBTCPurchase
