$BTC As of June 7, 2025, Bitcoin (BTC) is trading at approximately $104,858, reflecting a 2.27% increase from the previous close.
The market has shown resilience, with Bitcoin bouncing back from a low of $102,519 earlier today. Analysts suggest that the $100,000 support level remains intact, but a breakout above $106,000 is crucial to confirm a bullish trend. Conversely, failure to surpass this resistance could lead to a decline toward $90,000 .
Investor sentiment is cautiously optimistic, with some projecting long-term bullish scenarios. For instance, billionaire Tim Draper maintains his $250,000 year-end target, while Michael Saylor has reiterated his $13 million forecast, emphasizing Bitcoin's potential as a global reserve currency .
However, market dynamics remain volatile. The ongoing feud between President Trump and Elon Musk, coupled with concerns over potential tariffs and weak economic data, has introduced uncertainty, potentially impacting Bitcoin's short-term performance .
In summary, while Bitcoin's immediate outlook appears positive, investors should monitor key resistance levels and broader economic developments that could influence its trajectory.
