Bitcoin reclaims $104K after retesting support, but a drop below $100K could trigger 1–2 weeks of weakness.
Strong U.S. jobs data lifted BTC, though delayed Fed rate cuts may limit further short-term upside.
Long liquidation clusters near $99K–$102K pose risk, while short liquidations above $104.5K remain low.
Bitcoin is currently in a critical transition zone after completing a breakout above its recent range. The asset is attempting a post-breakout retest of its ReAccumulation Range, which could define the next leg higher. As of June 6, Bitcoin trades at $104,836 with a daily increase of 0.06%, according to CoinMarketCap. The price earlier dropped below $100,000 before recovering steadily throughout the day.
Support Holds After Volatile Retest Attempt
According to analysis prepared by Daan Crypto via X, Bitcoin remains at mid-range, near its monthly open of $104,600. The support around $100,000 acted as the lower bound for the recent decline.
A clean reclaim above $104,500 may signal the correction is over, while falling below $100,000 could trigger continued weakness for 1–2 weeks. The chart shows a rebound beginning at 4:00 AM on June 6, as price climbed from $99,500 to the current $104,836 level.
https://twitter.com/rektcapital/status/1930687890880651632
Market cap sits at $2.08 trillion with volume increasing 43.5% in 24 hours. Traders now look to see whether this retest holds or deviates further before a stronger move occurs.
Macroeconomic Conditions May Influence Short-Term Direction
On June 6, Bitcoin pushed above $104,000 following stronger-than-expected U.S. labor data. The Bureau of Labor Statistics reported 139,000 jobs added in May with unemployment at 4.2%. Analysts, including Pruscino, noted that strong employment data may delay Federal Reserve rate cuts.
CME FedWatch data shows market pricing with no rate cut before September. Meanwhile, the Trump administration continues to pressure the Fed for a full-point rate cut. These macro developments have aligned with Bitcoin's volatile price structure.
TheKingfisher pointed out in a post that long liquidation clusters between $99,000 and $102,000 increase risk of a downward liquidity cascade. However, short liquidations above $104,500 remain limited. Bitcoin remains up 6.72% over the past 30 days, as it attempts to confirm its breakout zone and transition toward new all-time highs.
The post Bitcoin Reclaims $104K After ReAccumulation Retest, But Traders Warn of “1–2 Weeks” Weakness If $100K Breaks appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
