Jun 21, 2025

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Bitcoin Trading Above $105K with Weak Demand and Consolidation Signals

Bitcoin has resumed a gradual increase, briefly surpassing $106,000 and currently trading at $105,383, marking a 0.8% rise in the last 24 hours.

On-Chain Data Points to Equilibrium, But Demand Wanes

The market lacks extreme signals of profit-taking or panic.
Realized profits over a seven-day moving average are below $1 billion.
This level aligns with figures from late 2024 and is significantly lower than early 2025 peaks.
Declining demand limits upward momentum; demand has weakened since May's local high.
The market shows temporary equilibrium with both buyers and sellers relatively inactive.

Bitcoin Traders Brace for Volatility in a Crowded Range

Bitcoin has been trading within a $100,000 to $110,000 range for nearly a month.
Long and short positions are building, indicating a contest between bulls and bears.
A breakout above $110,000 or a drop below $100,000 could trigger significant price movements.
Increasing short positions suggest many market participants anticipate a downward correction.
A dominant short position raises the risk of a sudden reversal or short squeeze.