#BTCPriceUpdate

Bitcoin (BTC) Price as of June 4, 2025 

On Wednesday, June 4, 2025, the price of Bitcoin (BTC) was recorded at Rp1,721,325,650.48, experiencing a decrease of 0.27% in the last 24 hours and 3.11% over the week. 

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🔍 Analysis of Bitcoin Price Movement

1. Current Market Conditions

Bitcoin had reached its highest peak around $111,880, but is currently trading around $105,000. This decline is influenced by profit-taking actions and distribution pressure from miners.  

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2. Technical Analysis

• Strong Support: $103,050

• Nearest Resistance: $106,589

• RSI (14-day): 65.44, indicating neutral momentum with potential for consolidation.  

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If the price breaks through resistance at $106,589, there is a chance to continue the rally towards $111,679. However, if support at $103,050 breaks, the price could drop to around $97,000. 

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3. Market Sentiment

Despite the correction, institutional demand remains strong. Political support, such as the statement from U.S. Vice President JD Vance referring to Bitcoin as a “hedge against inflation,” provides positive sentiment. 

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📈 Prediction of Future Price Movement

Based on technical analysis and market sentiment, Bitcoin has the potential to consolidate in the short term. However, if it successfully breaks through resistance at $106,589, there is a chance to continue the upward trend. Conversely, if support at $103,050 does not hold, a deeper correction may occur. 

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📢 Conclusion for the Binance Square Community

The current price movement of Bitcoin indicates a consolidation phase after reaching its highest peak. Investors are advised to monitor key support and resistance levels and consider external factors affecting the market. Diversifying the portfolio and risk management remain important strategies in facing cryptocurrency market volatility. #btcbulish #priceupdate