Bitcoin rises nearly 1% on Monday, surpassing $107,000 compared to $100,500 observed on June 5. The price of BTC is now only around 4.5% below its all-time high. The rebound is supported by positive sentiment across the broader stock market, where the S&P 500 index has gained nearly 2% over the last five sessions, fully erasing the prior pullback driven by Trump-related trade war concerns. Investors are hopeful for a breakthrough in U.S.–China trade negotiations.
- According to TheKingfisher.io, there is a significant liquidity cluster between $99,000 and $102,000, consisting of leveraged BTC positions.
- On Friday, June 6, the S&P 500 climbed above 6,000 points, reaching its highest level since February, while the U.S. dollar continued to weaken.
Improving technical conditions, a weakening dollar, strong sentiment on Wall Street, and growing optimism around a potential trade deal with China are all contributing to the narrative that Bitcoin may soon break above its all-time highs. After a short-term correction from around $112,000 down to $100,500, Bitcoin has now reclaimed the $107,000 mark, despite recent sessions showing net outflows from U.S.-listed Bitcoin ETFs, 3 sessions in a row.
Friday’s data shows that BlackRock’s IBIT saw net outflows of approximately $57 million. However, the fact that momentum remains strong despite ETF withdrawals suggests that institutional activity may soon pick up as BTC approaches its record levels. Bitcoin also found support near its 50-day exponential moving average (EMA) on the daily chart, completing a roughly 10% correction from all-time highs and holding key technical ground.
Bitcoin (Daily timeframe)
Source: xStation5
Sources: XTB Research, Bloomberg Finance
Rising M2 money supply across global central banks is also considered a foundational factor supporting the long-term “deflationary” Bitcoin narrative.
Sources: XTB Research, Bloomberg Finance
Daily Summary: U.S. stock indices are climbing following the PPI data
US OPEN: Wall Street Rallies on Soft PPI Data
BREAKING: US PPI comes in weaker than expected. EURUSD gains ground
JP Morgan earnings: Good, but it could have been better
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
