As of June 5, 2025, Bitcoin (BTC) is trading at approximately $104,776, reflecting a slight decline of 0.64% over the past 24 hours.
📉 Market Snapshot
Bitcoin has experienced a minor correction from its May all-time high of $111,980, with current prices consolidating between $103,750 and $106,750. Technical indicators suggest a potential bear flag formation, which could lead to further declines if support at $105,000 fails to hold.
🏦 Institutional Developments
Trump Media's Bitcoin ETF: Trump Media & Technology Group has filed for the Truth Social Bitcoin ETF, aiming to capitalize on institutional interest in cryptocurrencies.
MicroStrategy's New Offering: MicroStrategy plans to issue $250 million in junior perpetual preferred stock (STRD) to fund additional Bitcoin purchases, offering yields of 10% or more.
Semler Scientific's Acquisition: Semler Scientific acquired 185 BTC for $20 million between May 23 and June 3, raising its total holdings to 4,449 BTC.
🔮 Price Outlook
Analysts from Bitfinex suggest that BTC could reach new all-time highs above $115,000 in early July, contingent on continued institutional investment and weaker-than-expected U.S. job data. Additionally, Fundstrat’s Tom Lee has raised his 2025 Bitcoin target to $250,000, citing increased institutional adoption.
⚠️ Risks and Considerations
Despite bullish forecasts, technical patterns indicate potential volatility. The bear flag formation suggests a possible drop to $97,000 if current support levels fail. Moreover, profit-taking by large holders ("whales") continues, with a 40% decline in whale
-held supply over the past eight years.
