$BTC

As of June 9, 2025, the price of Bitcoin (BTC) fluctuates in the range of $103,700 to $106,300, facing the game between selling pressure from long-term holders (LTH) and inflows of institutional funds. The key support level is at $103,700 (95% holding cost line), and if it breaks, it may test the psychological level of $100,000; breaking through the resistance level of $106,300 may challenge $108,000. Delayed expectations for Federal Reserve interest rate cuts, the implementation of the EU MiCA regulation, and progress in China-U.S. trade negotiations are the main driving factors for short-term volatility. In the long run, continued inflows of Bitcoin ETF funds (such as BlackRock's IBIT managing $71 billion) and the halving cycle effect still support bullish expectations. Investors are advised to pay attention to key price levels and control leverage risk.