Cryptonews ASIA, BINANCE, BITCOIN, BTC, COINMARKETCAP, CRYPTOCURRENCY, IRAN, ISRAEL, JU, KI YOUNG JU, MARKET ANALYSIS, MARKET TRENDS, PART, TRADING VOLUME Clara Montgomery June 13, 2025 0 Comments

Bitcoin Price Drops Below $105K: Will Buyers Step In?

Bitcoin’s price has dropped 2.5% to $104,937 amid geopolitical tensions, leading to mass liquidation and heightened sell pressure indicated by Binance metrics. Long-term holders have notably accumulated significant BTC, and ETF inflows remain strong. Analysts suggest potential for a bullish reversal if Bitcoin can surpass $105,000. Meanwhile, new project BTC Bull garners attention for its presale opportunities linked to Bitcoin’s price movements.

In the latest market developments, Bitcoin (BTC) finds itself in a precarious situation as it drops 2.5% to settle at $104,937. The plummet comes amid escalating geopolitical tensions, particularly following Israel’s military actions against Iran on June 12. As a consequence, it appears that global risk assets, including cryptocurrencies, have experienced significant devaluation, with Bitcoin’s market cap shrinking by nearly $170 billion, now standing at around $2.08 trillion.

Recent figures from CoinMarketCap illustrate Bitcoin’s volatility, having recorded a 24-hour volatility rate of 2.1%. Additionally, Binance’s taker volume reflects a concerning -$197 million, implying heightened sell pressure and overwhelming market fears. In fact, funding rates on Binance Futures have dipped into negative territory, indicating that short sellers are shelling out extra premiums to maintain their positions. Historically, such sell-side pressure has hinted at potential market reversals, as seen in similar past events.

Interestingly, even amidst recent turmoil, long-term holders seem to be buying into the dip. CryptoQuant’s CEO Ki Young Ju revealed on social media that in the past month, these investors have scooped up over 881,000 BTC, suggesting a certain level of confidence moving forward. This enthusiasm is echoed by inflows into Bitcoin Exchange-Traded Funds (ETFs), which have surged by over $970 million in just three days.

On the analytical front, market sentiment appears to be somewhat optimistic. Despite the downturn, social sentiment metrics indicate a seven-month high, and stablecoin reserves are reportedly rising. Trading analysts anticipate that this could pave the way for a bullish trend. The Relative Strength Index (RSI) on the four-hour chart sits near 37, nearing the oversold mark, which might entice some buying action if Bitcoin can maintain its position above the $105,000 threshold. Should it manage to do so, a short-term increase to the $107,500 level might be achievable.

However, the path isn’t entirely clear. Testing lower Bollinger Bands at around $104,387, Bitcoin’s performance is scrutinized closely. A rebound above the mid-band resistance, indicated by the 20-day simple moving average reaching around $107,963, would signal a bullish reversal. On the flip side, with the MACD showing bearish momentum, a failure to hold support near $104,800 could lead to sharper declines, potentially down to $102,500.

In parallel to Bitcoin’s trials, there’s buzz around BTC Bull ($BTCBULL), a new meme coin drawing considerable interest. This initiative emphasizes value connection with Bitcoin’s market swings, boasting a unique presale scheme. With every $25,000 increment in Bitcoin’s value from $100,000 to $250,000, BTCBULL holders become eligible for various rewards, such as token burns and Bitcoin airdrops. To sweeten the deal, a major airdrop is pegged to happen when Bitcoin hits $250,000.

Currently, the presale has attracted a notable $7.1 million in funding against a target of $8.15 million, at a token price of $0.00256. Investors interested in Bitcoin’s rise might see potential in BTC Bull as it rapidly progresses toward its financial goals.

In conclusion, while Bitcoin battles external pressures and market volatility, it sees a mix of selling pressure and long-term investor interest, alongside new projects like BTC Bull vying for attention. These dynamics will be crucial to observe in the coming weeks as traders choose their next moves amid uncertainty. Additionally, as the market can shift swiftly, prospective investors are urged to conduct thorough research or consult professionals before engaging with these emerging financial products.

Bitcoin is facing considerable challenges as it slides below $105,000, pressured by recent geopolitical tensions and a spike in selling activity. Yet, despite the downturn, strong accumulation by long-term holders and sizable ETF inflows suggest some underlying optimism. As market watchers keep a close eye on potential recovery signals, initiatives like BTC Bull highlight the continual evolution within the crypto landscape.

Original Source: www.coinspeaker.com