Jun 8, 2025
10 2
Bitcoin Price Surges Above $105,000 Amid Bearish Trader Sentiment
The price of Bitcoin has rebounded, surpassing $105,000 on June 7. This recovery follows bearish market pressure linked to the conflict between U.S. President Donald Trump and Elon Musk. On-chain data indicates that Bitcoin's upward trend may continue in the coming days.
Impact of Negative Leveraged Traders’ Sentiment
Data analytics firm Alphractal reports a shift in market sentiment as a key factor in Bitcoin's recovery. Key points include:
- Increased interest in short positions among leveraged traders indicates a bearish outlook.
- This sentiment suggests that many retail traders are betting on a price decline.
- Historically, when sentiment is overwhelmingly bullish or bearish, the market often moves in the opposite direction.
- Alphractal warns that negative sentiment could lead to a contrasting bounce in Bitcoin's price.
- If leveraged traders persist in their bearish bets, Bitcoin might achieve new all-time highs.
Currently, BTC is valued at approximately $105,700, showing a nearly 2% increase in the last 24 hours and over 1% growth weekly.
