Bitcoin’s price demonstrated resilience by hovering near the critical $106,000 resistance level after recovering from a recent dip below $101,000 earlier in the week. The cryptocurrency has been trading in a tight range between approximately $104,000 and $106,000, reflecting a cautious market sentiment as traders and investors evaluate whether Bitcoin can sustain a breakout above this key psychological and technical barrier.
Bitcoin experienced a notable rebound from around $102,000, gaining over 3% within two days, supported by dynamic moving average supports and horizontal demand zones near $101,000. Despite this upward momentum, the price has encountered resistance in the $105,800 to $106,900 range, an area that coincides with previous rejection points and upper Bollinger Bands, indicating potential short-term consolidation or volatility ahead.
Technical indicators present a mixed picture: momentum oscillators like the RSI are hovering near neutral levels, suggesting weakening bullish pressure, while the MACD shows signs of plateauing after a recent bullish crossover. Bitcoin remains above key exponential moving averages (20/50/100 EMA), which provide intraday support around $104,900 to $105,300. However, a drop below $104,800 could jeopardize the short-term bullish setup.
Market participants are closely watching a symmetrical triangle pattern forming just below resistance, which often precedes a decisive directional move. A daily close above $106,500 could trigger a breakout toward the $108,000–$109,000 zone, last tested in late May. Conversely, failure to breach resistance may lead to a correction toward $102,500.
The current price action is also influenced by broader macroeconomic factors, including easing inflation concerns in the U.S. and dovish signals from central banks, which have boosted risk appetite. Institutional interest appears strong, with volume spikes near $104,000 likely driven by ETF-related demand and on-chain accumulation.
Overall, Bitcoin’s price is at a critical juncture, balancing between potential bullish continuation and short-term correction. Traders are advised to monitor key support and resistance levels closely as the market awaits a breakout confirmation or signs of increased volatility in the coming days.
Bitcoin’s price as of June 8, 2025, stands at approximately $105,681, marking a 1.22% increase from the previous day and a 52.44% rise compared to the same period last year, underscoring its ongoing recovery and growth trajectory despite recent fluctuations.
