As of Sunday, June 8, 2025, Bitcoin has been experiencing some volatility. Here's a summary of recent movements and short-term outlook:

* Current Price: Bitcoin is currently trading around $105,212 USD, having risen about 1.44% in the last 24 hours. It recently fell over 5% from $106,000 to below $101,000, hitting a one-month low, before rebounding.

* Short-Term Outlook (1-2 days):

* Consolidation and Volatility: The market is generally in a period of consolidation. Expect continued volatility.

* Support and Resistance:

* Support: Immediate support is seen around the $104,000-$105,000 zone. Deeper support levels are at $100,800, $96,500, and $90,000-$92,000.

* Resistance: Key resistance levels are around $106,000, $108,000, and $112,000.

* Potential Range: Some predictions suggest a trading range between $104,800 and $107,500 for the next 24 hours. A daily close above $108,000 could lead to a retest of $112,000.

* Technical Indicators: Bitcoin is trading above its major moving averages (20-, 50-, 100-, and 200-day EMAs), indicating a resilient uptrend. However, the RSI (Relative Strength Index) has shown negative divergence against the price, which could signal a potential downward reaction.

Important Considerations:

* Market Volatility: The cryptocurrency market is highly volatile, and these predictions are speculative.

* External Factors: Geopolitical events, macroeconomic data, regulatory news, and actions by major players (whales) can significantly impact Bitcoin's price. Recent news mentions a "Trump-Musk tussle" potentially impacting the market.

* Institutional Adoption: Bitcoin ownership in the U.S. has surpassed gold, driven by increased accessibility through retirement accounts and ETF exposure, solidifying its role as a modern hedge asset. This is a positive long-term trend.

In summary, for the next 1-2 days, expect Bitcoin to likely trade within its current consolidation range, testing immediate support and resistance levels. The overall trend appears to be upward, but short-term pullbacks or "dips" are possible due to market dynamics and potential negative divergences in indicators.

Always do your own research and consider the inherent risks before investing.