After a large fall in the relationship between the two most powerful pro-Crypto-individuals, Elon Musk and Donald Trump led Bitcoin (BTC) the wider cryptomarkt on Thursday in increased volatility. The flagship Munt teased under $ 101k for the last 24 hours before he returned from the level of support above $ 101,500 to trade around $ 104,543 on Friday 7 June 2025, during the Late Noord -Marican trade session.
The fear of further short-term sales remains in the midst of the increased crypto-volatility, which caused a considerable peak in forced crypto liquidations. Moreover, the fear and index of Bitcoin fell from more than 62 percent, suggesting that market greed, up to around 45 percent at the time of this writing.
What kind of bitcoin price now?
Since recently a new highest point of around $ 111,690, the BTC price has been caught in a falling trend in the short term. The recent rebound in the last 24 hours confirmed that BTC price continues to move in a symmetrical channel.
From the point of view of technical analysis, the BTC price is a crucial intersection, which can either mean further correction or a new rally towards a new ATH. From a Bullish point of view, BTC Price has included a Golden Cross in the daily period of between 50 and 200 advancing average simple (SMA).
In the four-hour time frame, the BTC price has re-tested the upper edge of the falling channel. With the 4-hour MacD line that the signal line has exceeded, the BTC price can continue with bullish sentiment above $ 106k.
From the Bearish perspective, the BTC price has not yet formed a solid reversing pattern after being caught in a falling channel in recent weeks. As a result, a potential below the level of support around $ 103,329 will lead a correction towards the level of support around $ 101,570.