As of June 5, 2025, Bitcoin (BTC) is trading at approximately $104,800, reflecting a slight decline from its recent peak of $111,970 achieved on May 22 . Analysts anticipate a bullish trajectory, with projections suggesting a rise to around $118,834 by June 6 . Further forecasts indicate potential highs of $132,791 by June 10 .

This optimism is fueled by strong institutional inflows, notably the $5.24 billion invested in U.S. spot Bitcoin ETFs in May . Additionally, the U.S. labor market's recent slowdown has increased speculation about potential Federal Reserve rate cuts, which could further bolster Bitcoin's appeal as an alternative asset .

However, caution is advised. Technical analyses highlight a critical support level at $105,000, with potential dips to $97,000 if bearish patterns materialize . Moreover, the Bitcoin Rainbow Chart indicates a broad possible price range between $33,670 and $381,342 by June 30, underscoring the market's inherent volatility .

In summary, while Bitcoin's mid-year outlook appears promising, investors should remain vigilant and consider both bullish forecasts and potential downside risks.