#BigTechStablecoin Bitcoin recovered sharply from $100,000 on June 6, but the bears are expected to pose a strong challenge at higher levels.
Several altcoins held their respective support levels, signaling a possible consolidation in the near term.
BTC
$105,240
made a brilliant comeback on June 6, rising above $105,000, indicating solid demand at lower levels. The recovery could face selling as the price nears $109,588. Select analysts have turned negative in the near term, expecting Bitcoin to drop below $100,000.
However, the Hash Ribbons metric, which has a good record of catching long-term price bottoms, recently gave a new buy signal. CryptoQuant contributor Darkfost said in a post on X that the signal is telling that “buying the dip around here is a smart move.”
