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Bitcoin price gains may be limited above $110,000 due to Bitcoin's correlation with stocks and recession fears in the U.S.
The value of Bitcoin (BTC) rose by 3.5% between June 7 and 9, approaching $108,500. Despite this recent increase, professional traders remain notably cautious, as evidenced by Bitcoin's derivatives metrics. Broader macroeconomic tensions persist, and Bitcoin continues to show a strong correlation with the stock market, limiting its short-term upside potential.