$100K retest vs. highest monthly close ever: 5 Things to know in Bitcoin this week
Bitcoin (BTC) begins June facing critical price action, with a weekly close at approximately $105,700, just above a key support level. Despite an 11% gain in May and the highest monthly close ever, a bearish divergence on the relative strength index (RSI) raises concerns. Market liquidity is predominantly above current prices, with predictions suggesting a potential rebound to $113,000. US economic indicators, including unemployment and inflation data, are under scrutiny, impacting Federal Reserve policy expectations. Bitcoin investor behavior shows a shift, with significant stablecoin outflows and reduced long-term holder interest indicating a market transition. Whales are also reducing exposure, suggesting profit-taking at current price levels. The market sentiment has shifted from euphoric to fearful, with the Crypto Fear & Greed Index at 64/100. Price targets indicate potential resistance around $120,000, while maintaining $100,000 as support could be crucial for future movements.
