After a serious downfall within the relationship between the 2 strongest pro-crypto people, Elon Musk and Donald Trump on Thursday, Bitcoin (BTC) has led the broader crypto market in heightened volatility. The flagship coin teased beneath $101k previously 24 hours earlier than rebounding from the assist degree above $101,500 to commerce about $104,543 on Friday, June 7, 2025, in the course of the late North American buying and selling session.
Amid the heightened crypto volatility, which triggered a major spike in compelled crypto liquidations, the concern of additional short-term selloffs stays palpable. Furthermore, Bitcoin’s concern and greed index dropped from over 62 p.c, suggesting market greed, to about 45 p.c on the time of this writing.
What Subsequent for Bitcoin Worth?
Since just lately hitting a brand new all-time excessive of round $111,690, BTC value has been trapped in a brief time period falling pattern. The latest rebound previously 24 hours confirmed that BTC value continues to maneuver in a symmetrical falling channel.
From a technical evaluation standpoint, the BTC value is at a vital crossroads, which may both imply additional correction or a recent rally towards a brand new ATH. From the bullish perspective, BTC value has recorded a golden cross within the each day timeframe between the 50 and 200 Shifting Common Easy (SMA).
Within the four-hour timeframe, the BTC value has been retesting the higher border of the falling channel. With the 4-hour MACD line having crossed the sign line, BTC value might proceed with bullish sentiment past $106k.
From the bearish perspective, the BTC value has not but fashioned any stable reversal sample after being trapped in a falling channel previously few weeks. Consequently, a possible shut beneath the assist degree round $103,329 will set off a correction in the direction of the assist degree round $101,570.