{"id":72499,"date":"2025-06-08T03:30:16","date_gmt":"2025-06-08T03:30:16","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=72499"},"modified":"2025-06-08T03:30:16","modified_gmt":"2025-06-08T03:30:16","slug":"bitcoin-stabilizes-at-104000-mid-range-as-market-eyes-next-breakout","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=72499","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<\/a> between US President Donald Trump and the world\u2019s 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 \u2013 What\u2019s Next For Bitcoin?<\/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

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.<\/a>\n<\/p>\n

BTC Price Overview<\/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.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin saw a sharp price dip on Thursday amidst a public fallout between US President Donald Trump and the world\u2019s 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":0,"featured_media":72500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-72499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/72499"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=72499"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/72499\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/72500"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=72499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=72499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=72499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}