Here’s the latest update on Bitcoin ($BTC ) as of June 6, 2025:
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📊 Market Snapshot & Price Action
Current Price: Trading around $104,849—modest daily uptick, but volatile intraday swings between ~$100.8K and ~$104.8K .
Near-Term Range: Bitcoingesting support above $100K, with resistance around $105K–$108K. Traders watching whether it can clear that zone .
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📰 Today’s Headlines & Drivers
1. Slide Triggered by Trump–Musk Clash 🚨
BTC dipped below $101,000, down ~1.5%, amid heightened tension between Trump and Elon Musk, which rattled crypto sentiment .
Ethereum also fell ~6%, dragging the broader market along .
2. Impact of Broader Market Events
Investors reacting to a mixed U.S. jobs report (139K jobs added)—fueling Fed rate cut uncertainty .
Post-trade, Tesla stock fell significantly, adding weight to risk-off sentiment .
3. ETF & Institutional Trends
Despite positive crypto business news (Circle IPO success, Trump’s Bitcoin ETF filing), BTC remained under pressure .
Continued strong on-chain flows and institutional interest suggest healthy medium-term fundamentals .
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🔍 Key Technical & On‑chain Signals
Consolidation continues between $100K–$108K, with a recent high near $105.4K and resistance at former support .
On-chain metrics show steady accumulation—active addresses rising and exchange reserves declining—indicating deeper institutional lock-in .
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📅 What to Watch Next
1. Support Levels – Holding above $100K is essential; dipping below could signal a deeper downside.
2. Resistance Zones – A breakout above $108K–$112K could reignite bullish momentum.
3. Market Catalysts – Upcoming U.S. jobs data, Fed commentary, and geopolitical news remain critical.
4. ETF Progress – Any movement on Trump Media’s Bitcoin ETF or inflows into existing vehicles will impact sentiment .
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🔮 Final Summary
Trading Range: $100K–$108K with ongoing volatility.
Risks: Macro headlines, political drama, profit-taking.
Strengths: Institutional accumulation, ETF interest, healthy on‑chain fundamentals.
