Bitcoin (BTC) Price: Bulls Defend $100K Support as Key Macro Data Approaches

TLDR

Bitcoin held $100,000 support level during weekly close with bulls targeting return to all-time highs near $112,000 Liquidity clusters around $100,000 mark pose risk for deeper correction if support fails, while upside moves could trigger $15 billion in short liquidations CPI and Producer Price Index data due June 11-12 ahead of Federal Reserve meeting, with no rate cuts expected until September Short-term holders’ cost basis at $106,200 creates potential resistance, while longer-term buyers need $97,500 support protection Analyst predicts Bitcoin could reach $250,000 by 2026 based on cup-and-handle pattern and three-year consolidation base

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Bitcoin closed the week near $106,000 after testing the crucial $100,000 support level. The price action has given hope to bulls looking for a return to all-time highs.

Bitcoin (BTC) Price

The weekly close preserved Bitcoin’s opening position despite volatility throughout the week. This performance marked the fourth consecutive weekly close higher for BTC/USD.

Trader Rekt Capital noted that Bitcoin broke its two-week downtrend but faces resistance at $106,600. He said some rejection at this level would be normal, with the goal being a daily close above this resistance for continued bullish momentum.

#BTC

Bitcoin has broken its two-week Downtrend (light blue)

Now, Bitcoin is trying to challenge the $106600 resistance (black)

Some light rejection here would be normal

But the goal is for Bitcoin to Daily Close above black for continued bullish bias$BTC #Crypto #Bitcoin https://t.co/mDiZnYvT6N pic.twitter.com/6xmlK5Y3g5

— Rekt Capital (@rektcapital) June 8, 2025

Other analysts see encouraging signs in Bitcoin’s recent price action. Matthew Hyland pointed to several daily candle closes above the 10-period simple moving average as a positive development.

Popular trader CryptoKing described the current situation as a “calm before the storm.” He noted that Bitcoin is compressing below resistance at $107,800 in what he calls a classic volatility squeeze.

$BTC showing Calm Before the Storm.$BTC is compressing just below resistance at $107,800 and it is a classic volatility squeeze only.

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… pic.twitter.com/FrmCQbVU91

— Crypto King (@CryptoKing4Ever) June 9, 2025

The trader highlighted that price is holding higher lows while volumes dry up. He believes a break above resistance could target $120,000 as the next level.

Exchange Liquidity Becomes Critical Factor

Exchange order book liquidity has played a major role in recent Bitcoin price movements. Throughout May and June, price action has featured sudden moves to grab patches of thickening liquidity.

These liquidity patches often result from speculative moves by large-volume traders attempting to guide price direction. The $100,000 mark now serves as a key test for whether the market can withstand long liquidation risk.

Trader Daan Crypto Trades noted that liquidation charts align with important key levels. He warned that moves below $100,000 and Thursday’s low could accelerate the current correction.

The $BTC Liquidation chart is telling the same story as the charts where the big liquidity clusters are lining up nicely with important key levels.

Below $100K and Thursday's low is where things can really accelerate and see continuation of this current correction.

But above… pic.twitter.com/YpcMmcUrg2

— Daan Crypto Trades (@DaanCrypto) June 8, 2025

The same analyst highlighted upside liquidity at Bitcoin’s current all-time highs around $112,000. He suggested many stops are likely placed above that point.

Weekend analysis from trader Cas Abbe showed that a 10% upside move would result in $15 billion of short liquidations. This level of potential forced buying could fuel a strong rally if triggered.

Inflation Data Precedes Fed Meeting

The week ahead contains important economic data releases before the Federal Reserve’s June interest rate meeting. The May Consumer Price Index and Producer Price Index are due June 11-12.

The Producer Price Index release will include unemployment data. While inflation has been slowing through 2025, attention remains on Federal Reserve officials who have maintained their stance against rate cuts.

Fed Chair Jerome Powell and other officials have drawn criticism from President Trump for their hawkish position. Despite this pressure, markets have priced out odds of cuts at the June or July meetings.

Only September shows expectations for a 0.25% decrease in the Fed funds rate according to CME Group’s FedWatch Tool data. This timeline could change based on upcoming inflation readings.

Trading firm Mosaic Asset warned that inflation could rebound in the second half of 2025. Their analysis compared the current cycle to the 1970s inflation period.

The firm noted that recent Consumer Price Index data showed 2.3% year-over-year growth, the smallest gain since February 2021. However, they cautioned that the disinflation trend since mid-2022 could be ending.

Bitcoin’s short-term holder base continues to influence price volatility. These investors tend to sell when their positions return to breakeven levels.

CryptoQuant identified $106,200 as a key level for investors who bought between one and four weeks ago. This level represents potential resistance as these holders might choose to exit their positions.

Conversely, buyers from three to six months ago have their cost basis at $97,500. Protecting this level as support remains important for market stability.

The analytics platform noted that understanding short-term holder positions provides key levels for both fear and opportunity in the market.

Some analysts believe the recent Trump-Musk social media dispute may have created a contrarian buying opportunity. Research firm Santiment suggested this could be a “sell the rumor, buy the news” event.

🇺🇸🇿🇦 The public downfall of Donald Trump's and Elon Musk's relationship has generated many polarizing reactions from the crypto community. While others may see it as nothing more than petty drama, others are showing legitimate fear that the two powerful pro-crypto individuals… pic.twitter.com/G9M9gsFtdv

— Santiment (@santimentfeed) June 6, 2025

Looking ahead, pseudonymous analyst Cheds maintains a target of $250,000 for Bitcoin by 2026. He bases this prediction on a cup-and-handle pattern breakout on the weekly chart.

The analyst cited three technical signals supporting his outlook: the cup-and-handle pattern, a solid base formation between $16,000 and $70,000, and sufficient consolidation depth to sustain rallies above $200,000.

Bitcoin currently trades at $105,706 as markets prepare for the week’s economic data releases.

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