As of June 5, 2025, at 14:21 (UTC), the price of Bitcoin (BTC) dropped below 104,000 USDT, trading now at approximately 103,945.93 USDT, reflecting a decline of 0.58% over the past 24 hours.
### Summary of Bitcoin Performance and Market-Related Factors:
*Price Volatility:** Bitcoin has experienced volatility, with prices ranging around 104,000 - 105,000. It faced resistance around the 112,000 level after reaching a high of 111,970 in late May 2025.
*Market Sentiment:** While overall market sentiment remains optimistic, some analysts indicate the possibility of further declines. The Fear and Greed Index for cryptocurrencies is at 57, suggesting "greed."
*Technical Analysis:** Technical indicators suggest the market is at a crossroads. Key support levels to watch are around 103,000 - 104,000. Breaking this level could lead to further losses, potentially toward 100,000 or even 97,000. On the other hand, 107,500 is considered a critical resistance level.
*Derivatives Market:** Data indicates a decline in bullish sentiment in the derivatives market, with a decrease in interest among derivatives traders and reduced bullish trading activity.
*Institutional Interest:** Bitcoin exchange-traded funds in the U.S. saw significant inflows in May, indicating strong institutional demand.
*External Factors:** The U.S. jobs report is a key economic indicator that may influence the Federal Reserve's stance on interest rates, which could impact Bitcoin and high-risk markets. Weak job data could lead to speculation about potential interest rate cuts, which would be positive for Bitcoin.
*Analyst Forecasts:** Some analysts expect Bitcoin to reach 115,000 or higher by early July 2025, depending on continued institutional investments and weak U.S. economic data. Some experts predict much higher prices by the end of 2025, ranging from 150,000 to 300,000.
