On June 9th, as of that day, the price of Bitcoin (BTC) was reported at around $105,596, showing a slight increase compared to the previous day. The price of Bitcoin fluctuated between $105,110 and $106,368 on that day. Although it was above the key support level, it failed to break through the resistance level of $106,500, indicating that the bullish and bearish forces in the market are still competing with each other.
The entire crypto market has shown a moderate rebound trend, with the total market value remaining at around 3.3 trillion US dollars. Among them, the price of Ethereum (ETH) fluctuates around $2,500, while Solana (SOL) and Avalanche (AVAX) have increased by 1% to 2%. However, the overall performance of mainstream cryptocurrencies has been rather weak, with no significant increase in trading volume, and investors’ risk appetite is not high.
In addition, recently, some Bitcoin ETFs have witnessed capital outflows, which indicates that institutional investors’ sentiment has become more cautious and may limit the upward space of Bitcoin’s price in the short term.
Overall, the short-term trend of Bitcoin has entered a technical consolidation stage, and the market is waiting for further policy guidance from the Federal Reserve. In this situation, it is recommended that investors closely monitor key macroeconomic data, reasonably control their investment positions, and be cautious of false price breakdowns and sudden sharp fluctuations.
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