Top Reasons Why Bitcoin Price May Retest $92k First Before Reaching $120k in the Midterm
Bitcoin (BTC) price has experienced heightened resistance around $108k in the past few days amid the de-escalation of the Middle East crisis. The flagship coin dropped slightly to trade at about $107,472 on Thursday, June 26, during the mid-North American session.
After recording an impressive comeback, following the 90-day pause on most reciprocal tariffs in April, BTC price has been forming a potential reversal pattern. The bearish sentiment for BTC price has been forming amid the growing demand from institutional investors, led by Strategy, and Metaplanet.
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Price Analysis

Steve Muchoki


Jun 26, 2025 19:21 UTC
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Top Reasons Why Bitcoin Price May Retest $92k First Before Reaching $120k in the Midterm

Story Highlights
Bitcoin price has been forming a falling trend since hitting its all-time high around $112k in mid-May 2025.
The high demand for spot Bitcoin from institutional investors has not rejuvenated bullish sentiment.
Bitcoin (BTC) price has experienced heightened resistance around $108k in the past few days amid the de-escalation of the Middle East crisis. The flagship coin dropped slightly to trade at about $107,472 on Thursday, June 26, during the mid-North American session.
After recording an impressive comeback, following the 90-day pause on most reciprocal tariffs in April, BTC price has been forming a potential reversal pattern. The bearish sentiment for BTC price has been forming amid the growing demand from institutional investors, led by Strategy, and Metaplanet.
Major Factors Weighing Down on Midterm Bullish Sentiment for Bitcoin Price
The BTC price, in the daily timeframe, has been forming a falling trend following a bearish breakout from a rising wedge formed in late May 2025. The midterm bearish sentiment for BTC price is bolstered by the falling daily Relative Strength Index (RSI) with the MACD line having crossed below the zero line.
