$BTC Here is a comprehensive analytical report on Bitcoin (BTC):
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1. 📰 Recent News
Approaching All-Time High: The price of BTC rose to around $110,400 on June 11, nearing the previous peak of $112,000 on May 22, supported by disappointing inflation data and hopes for interest rate cuts from the Federal Reserve, along with increased institutional participation and a rise in assets in Bitcoin funds to $132 billion compared to $91 billion in April.
Bitcoin as a Geopolitical Hedge: The price dropped to around $102,650 amid tensions between Iran and Israel, but many on-chain metrics suggest it could be an ideal entry point for "buying the dip."
New Institutional Adoption: "Trump Media" received approval from the U.S. Securities and Exchange Commission on June 14 for a $2.3 billion Bitcoin treasury deal, enhancing the institutional framework for BTC.
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2. Technical Indicators
Diverging Trends:
MACD: A bearish crossover is appearing on 4-hour and daily timeframes, with a continued negative trend.
Relative Strength Index (RSI): Fluctuating between 30–45, near oversold areas, suggesting a potential rebound.
**Key Support and Resistance
Strong resistance at $112,000 (previous May peak).
Initial support around $107,000, followed by preliminary levels at $104,500–$106,000 according to trading volume per VPVR. There is a possibility of a retreat to $100,000–$98,000 if the initial support is broken.
