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Bitcoin is back to a crossroads. The prices are bounced between $ 61,000 and $ 104,000 for about seven months. That range looks a lot like the lateral move of $ 31,000 – $ 64,000 before the strong drop in the early 2022
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Price blocked in a family range
According to reports, the section of Bitcoin from $ 61k to $ 104k reflects the “distribution area” 2020-2021 when it exchanged between $ 31,000 and $ 64,000 for almost a year. At the time, the slide arrived quickly: Bitcoin reached around $ 69,000 in November 2021, then it sank at around $ 15,600 by November 2022. It was a dip of almost 78%.
The faults continue to fall flat
Based on the analysis of Michaël Van de Poppe, Bitcoin tried and failed to remain above the level of $ 106k this month. His graph has shown a quick refusal to that barrier, triggering liquidations for a long time. The price went back to the $ 104k – $ 105k area after the extra push. The traders see each breakout without success as a distribution warning signal.
November 2021 again? pic.twitter.com/lia6qfhd9s
– Peter Brandt (@peterlbrandt) June 14, 2025
Risk of steep slide
According to the merchant veteran Peter Brandt, the strong fundamentals often shine brighter right before a market top. He underlined that if today’s installation leads to such a 78% drop from the $ 105k band, Bitcoin could fall to $ 23,600. His simple mathematics recalls the move of the last cycle from about $ 69k to $ 15,500.
The growing question satisfies technical barriers
Based on reports on Etf Spot and growing purchases by institutions and governments, some believe that the floor is more solid now. Huge investments in Bitcoin have never been higher. Yet technical obstacles remain. The inability to eliminate $ 105k makes some analysts cautious.
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Long -term signals are still bullish
The Tardigrade trader observed that simple 50 -day mobile averages and 200 days of Bitcoin recently constituted a golden cross. In past cycles, this model led to 50%earnings, 125%and 65%. It indicates a possible rally if buyers pass around current levels.
What does it mean for investors
Bitcoin tug between caution and optimism is clear. On the one hand, pattern observers warn a large fall if the support breaks. On the other, the strong hands of the great players can cushion any slide and unleash an event. Investors should keep an eye on $ 104k – $ 105k for signs of weakness or strength.
A break below could open the door to a passage to $ 23,500. On the contrary, a clean break above $ 106k could report the next leg. Regardless of this, volatility seems destined to remain high, so risk management remains fundamental.
First floor image from Imagen, TradingView chart