Bitcoin price started a recovery wave above the $62,000 zone. BTC is consolidating and might aim for more gains if it clears the $64,500 resistance zone. Bitcoin managed to form a base above $60,000 and started a recovery wave. The price is trading above $62,500 and the 100 hourly simple moving average. There was a break above a bearish trend line with resistance at $61,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might gain bullish momentum if it settles above the $64,500 zone. Bitcoin Price Eyes Fresh Gains Bitcoin price remained supported above the $60,000 zone. BTC formed a base and settled above $61,200 to start a recovery wave. There was a move above the $62,000 and $62,200 levels. Besides, there was a break above a bearish trend line with resistance at $61,500 on the hourly chart of the BTC/USD pair. The bulls were able to push the price above the 23.6% Fib retracement level of the downward move from the $74,100 swing high to the $59,107 low. However, the bears are active near $64,000. Bitcoin is now trading above $62,500 and the 100 hourly simple moving average. If the price remains stable above $62,000, it could attempt a fresh increase. Immediate resistance is near the $64,500 level. The first key resistance is near the $65,000 level. A close above the $65,000 resistance might send the price further higher. In the stated case, the price could rise and test the $66,500 resistance or the 50% Fib retracement level of the downward move from the $74,100 swing high to the $59,107 low. Any more gains might send the price toward the $68,500 level. The next barrier for the bulls could be $70,000. Another Decline In BTC? If Bitcoin fails to rise above the $64,500 resistance zone, it could start another decline. Immediate support is near the $62,800 level. The first major support is near the $62,500 level. The next support is now near the $62,000 zone. Any more losses might send the price toward the $61,500 support in the near term. The main support now sits at $61,200, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $62,500, followed by $62,000. Major Resistance Levels – $64,500 and $66,500.
The tariff policy instability may drive capital towards Bitcoin as a hedge, while legal challenges create economic uncertainty and market volatility.
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Geopolitical tensions can trigger rapid market reactions, highlighting the vulnerability of leveraged positions and the interconnectedness of global events.
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Hungary's shift towards a pro-EU digital strategy may enhance market competitiveness and attract crypto investments by easing regulatory burdens.
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The drone attacks on St. Petersburg could escalate tensions, impacting regional stability and altering international diplomatic strategies.
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After days of steep downward movement, the price of Bitcoin appears to have found a somewhat reliable anchor around the $60,000 region. However, recent on-chain data suggests that the premier cryptocurrency might not be down for long, with a bullish reversal seemingly on the cards. Is BTC Price Bottom Already Forming? In a June 7th post on the X platform, crypto analyst Ali Martinez revealed that the price of Bitcoin might have just reached a major bottom in this cycle. This evaluation is based on changes in the Bitcoin Supply In Loss metric, which measures the amount of BTC in circulation that was last moved at a price above the current market value. Related Reading: Bitcoin Price Plunges To $59K, Sparking Fears Of Deeper Decline This on-chain metric provides insight into how much pressure investors are under (or how deeply underwater they are) as they hold their Bitcoin at an unrealized loss. Hence, the Supply In Loss indicator, near unprecedented levels, is a signal of systemic fear and an impending shift in Bitcoin market dynamics. Martinez noted that the flagship cryptocurrency formed major cycle bottoms in the past when more than 10 million BTC were held at a loss. According to Glassnode data highlighted by the analyst, Bitcoin has breached this threshold, with 10.46 million coins (more than half of the circulating supply) underwater. As observed in the chart above, the Bitcoin price saw a bullish reversal in late 2018, as the supply in loss crossed this 10 million threshold. A similar pattern could be seen for BTC’s price when its Supply In Loss climbed to this mark around 2022. Martinez explained: I believe this is an important signal because selling pressure often begins to fade as fewer investors are willing to realize losses, increasing the probability of a market bottom forming. Based strictly on historical context and patterns, there is a high likelihood that a price bottom is forming for BTC at current levels. However, an important factor to discount is that the Bitcoin circulating supply was markedly lower in both periods (around 17.4 million and 19.2 million towards the end of 2018 and 2022, respectively). Lower circulating supply could mean the Supply In Loss might edge slightly higher this time, suggesting the BTC price could see further downside. This was evident in 2015 (when the circulating supply was much lower), when the Supply In Loss didn’t reach the 10 million threshold before a bullish reversal. Bitcoin Price At A Glance As of this writing, the price of BTC stands at around $62,746, reflecting a 2.5% jump in the past 24 hours. Related Reading: Ethereum Breakdown Warning: This Key Level Could Trigger More Downtrend Featured image from iStock, chart from TradingView
The extreme funding rates on OKX could trigger a market shift, forcing shorts to capitulate or risk significant losses, impacting broader crypto sentiment.
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The 60-day deadline pressures both U.S. and Iran, impacting geopolitical stability, oil prices, and market dynamics, especially in crypto.
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Government equity in AI firms could reshape tech regulation, potentially skewing competition and influencing market dynamics and valuations.
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AI-assisted audits may become crucial for privacy coins, as vulnerability discoveries can significantly impact token value and investor trust.
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The market's reaction underscores heightened volatility and uncertainty, challenging investor confidence in tech and crypto sectors amid rate hike fears.
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Ukraine's drone strikes on Russian infrastructure signal a potential shift in conflict dynamics, impacting energy markets and geopolitical stability.
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The SpaceX IPO could reshape European retail investing, boosting market participation and intensifying competition among brokerage platforms.
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Rising rate hike expectations could shift investment from volatile assets to safer options, impacting crypto and high-volatility markets.
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Polymarket's integrity crisis highlights the need for transparent, unbiased dispute systems in prediction markets to maintain trust and fairness.
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Ethereum's historic RSI lows suggest potential for future recovery, highlighting opportunities for patient investors amid current market volatility.
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The escalation heightens geopolitical tensions, impacting global markets and crypto volatility, while complicating peace negotiations and oil flow.
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Ethereum’s latest price crash has pushed the cryptocurrency below $1,800, placing its monthly chart under pressure at a time when the entire crypto market sentiment has turned heavily bearish. There is also another weakness coming from the monthly RSI, which has now dropped to its lowest level since the asset launched in 2015. That reading has made the current setup very important, as previous deep RSI resets appeared near major Ethereum cycle lows in 2020 and 2022, and there’s also a question of whether the same pattern is forming again. Related Reading: Bitcoin Price Plunges To $59K, Sparking Fears Of Deeper Decline RSI Hits Its Lowest Level Since Ethereum’s Launch Ethereum has endured a brutal nine months since it peaked at $4,946 in August 2025. The brutal price action has culminated in a break below $1,800 in June, with the leading altcoin falling to as low as $1,536 in the past 24 hours, which is its lowest price level so far in 2026. Interestingly, that crash has caused the monthly Relative Strength Index (RSI) on ETH/USD to print its lowest reading since Ethereum’s launch in 2015. The monthly RSI indicator chart shows the index dropping to around 40, its lowest level on the monthly timeframe since ETH began trading in 2015. Ethereum Price Chart. Source: @CryptoPatel On X What Does This Mean For Ethereum? Back in 2020, Ethereum’s RSI reached a depressed level before ETH began a massive rally from around $88 to its 2021 peak above $4,800. Again in 2022, another deep RSI reset came before ETH eventually rallied from around $880 to its 2025 all-time high. The current setup is not a guarantee that these same rallies will repeat, but it does show that Ethereum is now in the type of momentum zone that has always appeared closer to major bottoms than cycle tops. A notable difference this time is that the RSI has gone even lower, making the 2026 reading the most extreme in the cryptocurrency’s history. If history repeats itself, the ensuing rally might be even larger than those seen in the previous cycles. Technical analysis of the monthly candlestick timeframe presents Ethereum as moving through another four-year cycle, similar to the move from the 2017 top to the 2021 top. As shown in the chart image above, the 2017 cycle peak is the first major top, the 2021 peak is the next major cycle high, and then there is a projection of a possible top around $10,000 sometime in 2026-2027. Related Reading: XRP Monthly RSI Drops To All-Time Low As Market Watches For Confirmation At the time of writing, Ethereum is trading at $1,612, leaving bulls with the immediate task of defending the $1,600 region with stronger inflows. Speaking of inflows, Spot Ethereum ETFs ended a 17-day streak of outflows on Thursday, June 4, after recording $19 million in net inflows. However, that relief was short-lived, as Friday’s session returned to negative territory with $5.97 million in net outflows. Featured image from Unsplash, chart from TradingView
Institutional profit-taking in Bitcoin ETFs may signal a shift in market dynamics, potentially impacting Bitcoin's price stability and investor sentiment.
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Escalating tensions in the Strait of Hormuz could destabilize global markets, influencing oil prices, crypto volatility, and regulatory landscapes.
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The arrests highlight ongoing challenges in preventing crypto misuse for terrorism, underscoring the need for vigilant regulatory measures.
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Revised bank capital rules could lower barriers for institutional Bitcoin adoption, potentially reshaping the financial landscape.
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Rising job numbers suggest prolonged high rates, prompting market volatility and potential shifts from equities to fixed income investments.
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The brief, filed by attorney Ian R. Cohen, argues New York's lost-and-found statute cannot be used to claim "lost" assets controlled by private keys.
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Marvell's S&P 500 inclusion highlights AI's transformative impact on tech profitability, influencing both traditional and crypto markets.
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The House Ways and Means Committee is gearing up for its big tax push.
The semiconductor sell-off highlights the fragility of speculative markets, potentially prolonging volatility in tech and crypto sectors.
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The oversubscription highlights immense investor confidence in SpaceX, potentially reshaping market dynamics and influencing future IPO strategies.
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