Bitcoin (BTC) – June 9, 2025
Price & Movement: BTC traded around $105–106K on June 9. It was about $105,434 midday (virtually flat) and reached ~$106.6K after a ~1.2% 24h gain. Intraday range was roughly $103K–$106.5K (high ~$106.5K), indicating only minor net change on the day.
Technical: BTC remains above its 50- and 200-day moving averages, a sign of underlying strength. Key support is near $103K–$103.5K (around the 50-day MA) and resistance in the $106K–$108K area. The daily RSI is high (≈72), suggesting overbought conditions – any dip could see a short-term pullback or consolidation before further upside.
Flows & Sentiment: Institutional interest remains healthy. CoinShares data show about $255M in net crypto fund inflows last week (almost entirely into Ethereum), while Bitcoin products saw a small ~$8M outflow. Overall ETF demand and on-chain accumulation have continued to support the bullish trend.
Macro/News: Market sentiment is cautiously optimistic. Easing US–China trade tensions (e.g. Trump’s positive tone) and Chinese monetary easing have bolstered risk assets. Offsetting this, rising US bond yields and trade/inflation concerns have capped gains. Traders are focused on upcoming US May CPI (core CPI ~2.9% expected, report due June 11); any surprise there could spark volatility in both stocks and crypto.
Short-Term Outlook: Bitcoin is likely to consolidate near current levels over the next 1–2 days. A decisive break above ~$106.5K resistance could fuel a new leg up, while a drop below ~$103K would test support. In practice, expect range-bound or modestly sideways action until fresh catalysts emerge – notably US data or shifts in global risk appetite.
Sources: Recent price and volume data; on-chain and exchange stats; technical analysis levels; CoinShares fund-flow reports; and macro/economic context from news.