{"id":5238,"date":"2025-06-08T18:13:12","date_gmt":"2025-06-08T18:13:12","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/bitcoin-stabilizes-at-104000-mid-range-as-market-eyes-next-breakout\/"},"modified":"2025-06-08T18:13:12","modified_gmt":"2025-06-08T18:13:12","slug":"bitcoin-stabilizes-at-104000-mid-range-as-market-eyes-next-breakout","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/bitcoin-stabilizes-at-104000-mid-range-as-market-eyes-next-breakout\/","title":{"rendered":"Bitcoin Stabilizes At $104,000 Mid-Range As Market Eyes Next Breakout"},"content":{"rendered":"

Bitcoin saw a sharp price dip on Thursday amidst a public fallout between US President Donald Trump and the world’s richest man Elon Musk. The premier cryptocurrency, which had traded steadily within the $104,000\u2013$106,000 range throughout the week, plunged to below $101,000 as tensions escalated between the two influential figures who attacked each other via their personally owned social media platforms i.e. X (formerly Twitter) and Truth Social. <\/p>\n

Since then, Bitcoin has shown some market resilience climbing back to around $104,000. With another consolidation developing, market analyst Crypto Daan has highlighted the price levels that are critical to the next price breakout.\n<\/p>\n

Beyond $106K Or Below $100K – What\u2019s Next For Bitcoin?<\/b><\/h2>\n

The month of May proved largely bullish for Bitcoin as the digital asset surged from around $95,000 to establish a new all-time high near $112,000 marking the resumption of the larger crypto bull market. However, Bitcoin has noted a significant price correction since reaching this peak with market prices pegged around $104,000 on May 31. <\/p>\n

As seen in the first week of June, Bitcoin had hovered around $106,000 before its most recent price slump on Thursday. Due to this price action, Daan Crypto notes<\/a> the digital asset is now trading within a price range of $100,000-$106,000, where it comfortably sits at the mid-range around $104,000.<\/p>\n

\"Bitcoin\"<\/p>\n

The analyst notes that if Bitcoin returns break below the lower range boundary at $100,000, the ongoing price correction could extend for 1-2 weeks. Going by BTC\u2019s stairwell ascent in the past month, potential market support in such a bearish case would lie around $95,000 and $85,000.\u00a0<\/p>\n

On the other hand, if the market bulls can force a return above the monthly high of $106,000, Daan Crypto explains that such development would indicate the market correction is over, and Bitcoin may be headed for another price discovery with potential initial targets of around $120,000.\n<\/p>\n

BTC Price Overview<\/b><\/h2>\n

At the time of writing, Bitcoin trades at $104,650 following a price gain of 2.98% in the past day. Using larger time frames , the premier cryptocurrency is up by 1.12% on its weekly chart and 7.49% on the monthly chart indicating a strong bullish control of the market. <\/p>\n

Interestingly, the Relative Strength Index on the daily chart stands at 51.53 facing upward which supports the notion that Bitcoin\u2019s correction might be over with price eyeing a return to the overbought zone above 70. With a market cap of $2.07 trillion, Bitcoin continues to rank as the world\u2019s largest cryptocurrency and fifth largest asset in the world.\n<\/p>\n

\"Bitcoin\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin saw a sharp price dip on Thursday amidst a public fallout between US President Donald Trump and the world’s richest man Elon Musk. The premier cryptocurrency, which had traded steadily within the $104,000\u2013$106,000 range throughout the week, plunged to below $101,000 as tensions escalated between the two influential figures who attacked each other via…<\/p>\n","protected":false},"author":1,"featured_media":5239,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[119],"tags":[56,2625,70,62,2626,293,440,2627],"class_list":["post-5238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-price-range","tag-btcusd","tag-btcusdt","tag-daan-crypto","tag-donald-trump","tag-elon-musk","tag-mid-range"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/5238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=5238"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/5238\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/5239"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=5238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=5238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=5238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}