Bitcoin Holds Above $105K Amid Bullish Sentiment and Technical Uncertainty
Bitcoin (BTC) is trading at approximately $105,293 as of June 2, 2025, marking a modest 0.91% gain over the past 24 hours. The intraday trading range saw lows of $103,935 and highs nearing $105,808, with total market capitalization hovering around $2.1 trillion. Daily trading volume sits at an estimated $39 billion.
Analysts remain split on Bitcoin’s immediate direction, pointing to a potential bear flag formation on the 4-hour chart. If validated, this bearish pattern could signal a downward move toward $97,000. Conversely, holding above key psychological support at $100,000 could bolster upward momentum.
BTC’s price structure is currently testing major resistance around the $108,000 mark. A confirmed breakout above this level could set the stage for a run toward $120,000. Support remains firm at $100,000, with further downside risk extending to $92,000 if momentum falters.
The mixed technical picture has traders watching closely for volume spikes and price confirmation. While the bear flag adds caution to the outlook, macro fundamentals and demand-side signals remain constructive.
Recent on-chain data reveals that Bitcoin reserves on centralized exchanges are at record lows, suggesting a supply crunch that could provide tailwinds for price appreciation. Mid-sized whales have ramped up accumulation, while long-term holders appear to be trimming positions—a divergence often observed during late-stage rallies.
Meanwhile, institutional interest continues to rise. Notably, companies such as Trump Media and GameStop have added Bitcoin to their balance sheets, signaling growing corporate adoption.
Looking ahead, Bitcoin’s trajectory depends on its ability to sustain momentum above $105,000 and break through resistance at $108,000. A bullish breakout could validate calls for a move to $120,000, especially in light of declining supply and macro adoption trends.