$BTC Bitcoin starred in a brilliant rebound on June 6, surpassing USD 105,000, indicating strong demand at lower levels. The recovery may face selling as the price approaches USD 109,588. Some analysts have turned pessimistic in the short term and expect Bitcoin to fall below USD 100,000.

However, the Hash Ribbons metric, which has a good track record of detecting long-term price lows, recently gave a new buy signal. CryptoQuant contributor Darkfost said in a post on X that the signal suggests that "buying the dip right now is a smart decision."