As of June 20, 2025, Bitcoin (BTC) is currently stabilizing at around $28,500 after experiencing significant volatility in the earlier period. Technically, the daily RSI indicator is in a neutral zone at 45, and the MACD green bars are continuously narrowing, indicating a relief in short-term selling pressure; however, the moving average system still shows a bearish arrangement, and further pullback risks should be monitored.

On the news front, the recent regulatory actions by the U.S. Securities and Exchange Commission (SEC) against multiple cryptocurrency exchanges have raised market concerns, leading institutional investors to adopt a cautious stance. However, countries like El Salvador continue to advance the process of Bitcoin legalization, providing some support for the price.

In the short term, it is advisable to watch and wait. If the key support level of $27,800 is broken, it may open up downward space; there is strong resistance around $29,500 above, and a breakout could test the pressure level of $31,000. It is essential to strictly control positions and be aware of policy risks.