Trump says Iran will ‘work out well’: Five things to know in Bitcoin this week
Bitcoin started June under pressure as US-Iran conflict headlines increased market volatility, pushing BTC below $73,000 after the monthly close. Traders are watching a tight short-term range, with about $74.2K acting as resistance and $72.7K–$72K as support/liquidity targets. Bulls still have one key line: a weekly close above $73K could keep the double-bottom breakout setup alive, while upside targets sit near $75K. Macro data may matter this week, with ISM manufacturing PMI and US payrolls in focus. Strong PMI readings could support risk assets, but recent inflation data remains a concern. Onchain and derivatives signals are cautious. Long-term holder supply is still rising, which CryptoQuant says does not yet confirm a durable bottom. Funding rates are also elevated, showing a long-heavy market that may need a leverage flush before a stronger rebound. Sentiment is very optimistic, but ETF flow and leverage signals argue for caution.
