As Bitcoin faces another big macro week, bulls are betting the $100K retest is over.
- Bitcoin shows signs of strength at the weekly close, keeping all-time high predictions in play.
- Liquidity hunts remain in the spotlight and could trigger a deeper correction if $100,000 support breaks.
- All eyes turn to inflation data and the Fed as CPI, PPI, and the June FOMC meeting approach.
- Short-term Bitcoin holders are eyeing $106,200 as a crucial level, potentially establishing near-term resistance.
- The public spat between Donald Trump and Elon Musk could turn out to be a hidden win for crypto holders.
Bitcoin’s weekly close sparks optimism
Bitcoin briefly topped $106,000 before encountering selling pressure ahead of the June 8 weekly close.
Despite a volatile week, data from Cointelegraph Markets Pro and TradingView shows BTC/USD ultimately returned to its weekly open, ending the period nearly flat.
The weekly performance holds significance for market watchers looking for signs of strength following Bitcoin’s $100,000 support retest.
According to popular trader and analyst Rekt Capital, the outcome was somewhat mixed. While BTC/USD maintained $104,400 and secured its fourth consecutive higher weekly close, a decisive bull market breakout remained elusive.
“Bitcoin has broken its two-week downtrend (light blue). Now, it’s attempting to challenge the $106,600 resistance (black),” he noted in a June 8 update shared with his X followers.
“Some light rejection here would be normal. But the goal is for Bitcoin to Daily Close above black for continued bullish bias.”
Others are already spotting positive signals that Bitcoin is moving beyond its recent $100,000 retest.
Trader Matthew Hyland highlighted that Bitcoin has closed several daily candles above the 10-period simple moving average (SMA), signaling potential momentum.
Long-term outlooks remain steady, with experienced hodlers anticipating what they believe to be an inevitable bullish continuation.
“$BTC is showing the calm before the storm. It’s compressing just below resistance at $107,800, a classic volatility squeeze,” noted popular trader CryptoKing over the weekend, citing multiple price indicators.
“If you look at Price holding higher lows. Volumes drying up and the breakout is loading. RSI is also cooling off. If we flip resistance this time the next stop is $120K.”
Focus Shifts to BTC Liquidity
Exchange order book liquidity has played a major role in recent Bitcoin price analysis.
Throughout May and June, price movements have seen sharp swings as the market “grabs” clusters of increasing liquidity.
As reported by Cointelegraph, these liquidity clusters are often driven not by organic demand but by speculative actions from large-volume traders aiming to steer the price in a desired direction.
Currently, attention is focused on the $100,000 level, which serves as a critical test for the market’s resilience against long liquidation risk.
“The $BTC liquidation chart tells the same story as other charts, with large liquidity clusters aligning closely with key levels,” noted popular trader Daan Crypto Trades in a recent post on X.
“Below $100K and Thursday’s low is where things can really accelerate and see continuation of this current correction.”
Daan Crypto Trades also emphasized the significance of upside liquidity, highlighting Bitcoin’s current all-time highs near $112,000 as a key area to watch.
“There are likely many stop orders placed just above that level,” he added.
Over the weekend, fellow trader Cas Abbe pointed out that a 10% rally could trigger as much as $15 billion in short liquidations.
CPI and PPI Take Center Stage Ahead of FOMC
The final week before the Federal Reserve’s June interest rate meeting features key inflation indicators.
The May Consumer Price Index (CPI) and Producer Price Index (PPI) are set to be released on June 11-12, with the PPI report accompanied by unemployment figures.
Although inflation has been easing throughout 2025, market focus remains on the Fed, whose officials have resisted calls to lower rates—a move that could provide a significant boost to crypto and other risk assets.
Fed Chair Jerome Powell and other officials have also faced criticism from US President Donald Trump for maintaining a relatively hawkish stance.
Despite this, markets have largely priced out any chance of a rate cut at the June or July Federal Open Market Committee (FOMC) meetings.
Expectations for a 0.25% rate reduction currently only appear on the table for the September meeting, according to the latest data from CME Group’s FedWatch Tool.
In the latest issue of its regular newsletter, The Market Mosaic, trading firm Mosaic Asset cautioned that inflation could rebound in the second half of 2025, potentially reinforcing the Fed’s hawkish stance.
“There are signs of easing inflation across several indicators. The most recent Consumer Price Index (CPI) showed a 2.3% year-over-year increase, the smallest rise since February 2021. Meanwhile, the Fed’s preferred PCE inflation measure climbed 2.1%, close to the central bank’s target,” the firm noted on June 8.
“But if history is any guide, then the trend of disinflation since mid-2022 could be coming to an end.”
An accompanying chart compared today’s inflation cycle to the 1970s, with Mosaic noting that a resurgence could occur as the impact of US trade tariffs begins to show in the economy.
Short-term Bitcoin holders create resistance
Bitcoin’s speculative investor base remains a key focus as a potential driver of short-term price volatility.
At specific price points, the profits of short-term holders (STHs) often reach levels that encourage selling or reducing BTC exposure.
In a June 8 “Quicktake” blog post, on-chain analytics platform CryptoQuant highlighted one such level—coinciding with Bitcoin’s local high near the weekly close.
“A short-term holder sitting on a loss tends to panic,” explained contributor Burak Kesmeci.
“So, when the price gets back to their break-even level, they might say ‘this much risk is enough for me’ and hit the sell button — turning that zone into potential resistance (like $106.2K).”
CryptoQuant data highlights $106,200 as a key level for investors who bought within the past one to four weeks.
Meanwhile, buyers from three to six months ago have an average cost basis around $97,500, making that level important for the market to defend as support.
“Understanding where short-term holders are positioned provides crucial insights into levels of both fear and opportunity,” added Kesmeci.
“Sell the rumor, buy the reality?”
In a potential silver lining for Bitcoin bulls, research firm Santiment suggests that the worst of BTC’s price decline may be behind us.
The key factor, it argues, is the behavior of the broader crowd—as well as the recent public spat between US President Donald Trump and Elon Musk.
Bitcoin’s downside accelerated as the two traded barbs on social media, marking what some call the end of their political relationship.
“The public fallout between Donald Trump and Elon Musk has sparked many polarized reactions within the crypto community,” Santiment told its X followers over the weekend.
“While others may see it as nothing more than petty drama, others are showing legitimate fear that the two powerful pro-crypto individuals being at odds will create a long-term bearish outcome.”
Santiment suggested the feud might have already played out as a classic “sell the rumor, buy the news” scenario.
“Typically, when major crypto figures experience spikes in discussion volume, the likelihood of market reversals rises,” the firm summarized.
