Bitcoin Overview & Price Analysis
Bitcoin (BTC) is currently trading around $104,856, showing a modest +0.38% gain intraday. The price has fluctuated between $103,795 and $105,532 within the day.
Support & Resistance Levels
Support Zones:
$103,000–$104,400: Critical short-term support according to Coindition, protecting against sharp declines .
$102,000–$104,000: Lower support range identified by FXLeaders, hinting at a potential near-term bottom
$100,500: Bounce area from the 50‑day SMA on June 5, reaffirmed as key support
Resistance Zones:
$106,200–$107,300: Intraday resistance identified by Coindition
$109,300–$110,000: High-volume breakout level—clearing this would restore bullish momentum .
$111,500–$112,000: Major resistance that could lead to a rally toward $113,500 if surpassed
Fresh Bitcoin Project Updates
BTCD Stablecoin by Elastos
Elastos unveiled BTCD, a BTC-backed decentralized stablecoin aiming to build a new Bitcoin-based DeFi system, reminiscent of a digital Bretton Woods model.
Pompliano’s ProCapBTC Vehicle
Crypto influencer Anthony Pompliano will lead ProCapBTC, targeting $750M to buy large volumes of bitcoin, marking renewed institutional interest.
Trump Media’s BTC Treasury Move
Trump Media & Technology has received SEC approval to hold $2.3B in bitcoin as part of its corporate treasury—aligning with the U.S. trend of on‑balance‑sheet BTC.
Geopolitical Relief Boost
Bitcoin recovered to $106,818 (+1.3%) as Middle East tensions eased. Analyst Kathleen Brooks notes downside risk is limited unless the conflict escalates.
Outlook & What to Monitor
Support Watch: Stability above $103K is essential; a dip below $100,500 could intensify selling pressure.
Upside Potential: Clearing $109K–110K could reignite bullish momentum targeting the $111.5K–113.5K range.
Institutional Signals: ProCapBTC’s buying strategy and Trump Media’s BTC holdings suggest growing adoption and inflows.
Macro & Geopolitics: Continued de-escalation in the Middle East could underpin Bitcoin’s safe-haven narrative.
