Bitcoin rises nearly 1% on Monday, surpassing $107,000 compared to $100,500 observed on June 5. The price of BTC is now only around 4.5% below its all-time high. The rebound is supported by positive sentiment across the broader stock market, where the S&P 500 index has gained nearly 2% over the last five sessions, fully erasing the prior pullback driven by Trump-related trade war concerns. Investors are hopeful for a breakthrough in U.S.–China trade negotiations.
- According to TheKingfisher.io, there is a significant liquidity cluster between $99,000 and $102,000, consisting of leveraged BTC positions.
- On Friday, June 6, the S&P 500 climbed above 6,000 points, reaching its highest level since February, while the U.S. dollar continued to weaken.
Improving technical conditions, a weakening dollar, strong sentiment on Wall Street, and growing optimism around a potential trade deal with China are all contributing to the narrative that Bitcoin may soon break above its all-time highs. After a short-term correction from around $112,000 down to $100,500, Bitcoin has now reclaimed the $107,000 mark, despite recent sessions showing net outflows from U.S.-listed Bitcoin ETFs, 3 sessions in a row.
Friday’s data shows that BlackRock’s IBIT saw net outflows of approximately $57 million. However, the fact that momentum remains strong despite ETF withdrawals suggests that institutional activity may soon pick up as BTC approaches its record levels. Bitcoin also found support near its 50-day exponential moving average (EMA) on the daily chart, completing a roughly 10% correction from all-time highs and holding key technical ground.
Bitcoin (Daily timeframe)
Source: xStation5
Sources: XTB Research, Bloomberg Finance
Rising M2 money supply across global central banks is also considered a foundational factor supporting the long-term “deflationary” Bitcoin narrative.
Sources: XTB Research, Bloomberg Finance
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