Monday, June 2, 2025

As of Monday, June 2, 2025, Bitcoin is showing some mixed signals. Here's a summary of recent analysis and predictions for today:

Current Price & Recent Movement:

* Bitcoin is currently trading around $104,000 - $105,000.

* It has seen a slight recovery today (June 2) after a bearish weekend for many cryptocurrencies, rising by about 0.15% since yesterday.

* However, it still experienced a 3% decline last week and a 2.82% fall over the last seven days.

Key Technical Levels:

* Support: The $104,000 level is acting as a crucial support. If it breaks below this, further declines towards $103,720, $103,030, and potentially the psychologically important $100,000 mark are possible. Some analysts also highlight support levels around $97,000 and $90,000 if a significant retracement occurs.

* Resistance: Immediate resistance is around $106,406. If Bitcoin can recover and close above this, it could aim for its all-time high of $111,980, or even target $109,500 - $110,100.

* Moving Averages: The 50-day moving average on the four-hour timeframe is sloping down, indicating a bearish trend. However, the 200-day moving average is sloping up, suggesting a strong long-term trend.

Market Sentiment & Factors:

* Consolidation: Bitcoin is currently in a consolidation phase, with bulls struggling to regain momentum.

* Fading Bullish Momentum: The Relative Strength Index (RSI) is pointing downward, indicating fading bullish momentum, and the Moving Average Convergence Divergence (MACD) shows a bearish crossover.

* Institutional Interest: Despite some recent profit-taking and technical divergences, there is continued institutional accumulation, with BlackRock's Bitcoin ETF holding significant assets and MicroStrategy adding to its holdings. This suggests long-term optimism from some major players.

* Macroeconomic Factors: Geopolitical tensions and uncertainty over central bank monetary policies are creating cautious market sentiment.

* Volume: Trading volume is currently low, which means sharp price moves are less likely in the immediate short term.

Short-Term Prediction (Today/This Week):

* Many analysts suggest Bitcoin could see continued consolidation around the $105,000 mark.

* There's a strong focus on the $104,655 level; stabilizing above this could lead to a small rebound, while a break below could trigger further declines towards the $103,000-$102,000 range.

* Some predictions indicate a potential for Bitcoin to hover between $107,000 and $112,000 in early June, depending on global risk appetite and ETF volume.

Important Note: Cryptocurrency markets are highly volatile and predictions are not guaranteed. Always conduct your own research and consider the risks before making any investment decisions.

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