$BTC As of June 5, 2025, Bitcoin (BTC) is trading at approximately $104,711, reflecting a slight decline of 0.66% over the past 24 hours.

The current market sentiment is mixed, with short-term indicators leaning bearish. BTC has recently dipped below the $105,000 mark, and technical analyses suggest potential further declines, possibly targeting the $97,000–$98,000 range. This outlook is supported by bearish flag patterns and a failure to maintain key support levels.

However, there are also bullish perspectives. The reduction in leveraged long positions on Bitfinex to their lowest since December 2024 may indicate a healthier market structure, potentially setting the stage for a rally. Additionally, some analysts predict that Bitcoin could reach $115,000 by July, driven by weak U.S. employment data and the anticipation of Federal Reserve rate cuts, which may attract institutional investors.