Jun 15, 2025
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Bitcoin Tests $104K Support as Market Braces for Potential Decline
Bitcoin is currently trading above $104K, down 5% from its all-time high of $112K, amidst geopolitical tensions in the Middle East. The cryptocurrency has shown resilience despite market volatility.
- Key support level identified at $104,124, where many buyers acquired BTC, suggesting a solid base.
- A sustained hold above this level could lead to another price discovery push.
- Potential breakdown below this zone may trigger deeper corrections toward $97,405.
- Current price is $105,502, with support noted around $103,600.
- Consolidation between $103,600 and $109,300 indicates a decision point is approaching.
- Breaking above $106,800 could lead to testing $109,300; failure to maintain above $104,500 poses downside risks.
Market reactions to geopolitical developments and macroeconomic factors like oil prices will be crucial for Bitcoin's near-term trajectory.
