$BTC

As of June 6, 2025, Bitcoin (BTC) is experiencing notable volatility.

Earlier today, BTC dipped below $101,000, influenced by geopolitical tensions, including a public dispute between former U.S. President Donald Trump and Tesla CEO Elon Musk. This contributed to a broader decline in the cryptocurrency market, with Ethereum dropping over 6% to around $2,457.

Despite a slight rebound later in the day, Bitcoin's short-term outlook remains uncertain. Analysts warn that BTC could fall further, potentially dropping to $96,000, unless technical indicators such as the Relative Strength Index (RSI) suggest a reversal.

On-chain metrics offer a broader perspective. The Market Value to Realized Value (MVRV) ratio, a key indicator of market cycles, suggests Bitcoin may be around 140 to 150 days away from a potential cycle peak—possibly in late Q3 or early Q4 of 2025.

In summary, while Bitcoin has shown resilience with its intraday recovery, market sentiment remains cautious due to recent political tensions and bearish technical signals.