Bitcoin Price Fights Back—Is The Worst Finally Over?

Bitcoin price started a recovery wave above the $62,000 zone. BTC is consolidating and might aim for more gains if it clears the $64,500 resistance zone.

• Bitcoin managed to form a base above $60,000 and started a recovery wave.
• The price is trading above $62,500 and the 100 hourly simple moving average.
• There was a break above a bearish trend line with resistance at $61,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might gain bullish momentum if it settles above the $64,500 zone.

Bitcoin Price Eyes Fresh Gains

Bitcoin price remained supported above the $60,000 zone. BTC formed a base and settled above $61,200 to start a recovery wave. There was a move above the $62,000 and $62,200 levels.

Besides, there was a break above a bearish trend line with resistance at $61,500 on the hourly chart of the BTC/USD pair. The bulls were able to push the price above the 23.6% Fib retracement level of the downward move from the $74,100 swing high to the $59,107 low.

However, the bears are active near $64,000. Bitcoin is now trading above $62,500 and the 100 hourly simple moving average. If the price remains stable above $62,000, it could attempt a fresh increase. Immediate resistance is near the $64,500 level.

The first key resistance is near the $65,000 level. A close above the $65,000 resistance might send the price further higher. In the stated case, the price could rise and test the $66,500 resistance or the 50% Fib retracement level of the downward move from the $74,100 swing high to the $59,107 low. Any more gains might send the price toward the $68,500 level. The next barrier for the bulls could be $70,000.

Another Decline In BTC?

If Bitcoin fails to rise above the $64,500 resistance zone, it could start another decline. Immediate support is near the $62,800 level.

The first major support is near the $62,500 level. The next support is now near the $62,000 zone. Any more losses might send the price toward the $61,500 support in the near term. The main support now sits at $61,200, below which BTC might struggle to recover in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $62,500, followed by $62,000.

Major Resistance Levels – $64,500 and $66,500.

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Bitcoin Supply In Loss Crosses Critical Threshold — Bullish Reversal Next?

After days of steep downward movement, the price of Bitcoin appears to have found a somewhat reliable anchor around the $60,000 region. However, recent on-chain data suggests that the premier cryptocurrency might not be down for long, with a bullish reversal seemingly on the cards.

Is BTC Price Bottom Already Forming?

In a June 7th post on the X platform, crypto analyst Ali Martinez revealed that the price of Bitcoin might have just reached a major bottom in this cycle. This evaluation is based on changes in the Bitcoin Supply In Loss metric, which measures the amount of BTC in circulation that was last moved at a price above the current market value.

This on-chain metric provides insight into how much pressure investors are under (or how deeply underwater they are) as they hold their Bitcoin at an unrealized loss. Hence, the Supply In Loss indicator, near unprecedented levels, is a signal of systemic fear and an impending shift in Bitcoin market dynamics.

Martinez noted that the flagship cryptocurrency formed major cycle bottoms in the past when more than 10 million BTC were held at a loss. According to Glassnode data highlighted by the analyst, Bitcoin has breached this threshold, with 10.46 million coins (more than half of the circulating supply) underwater.

As observed in the chart above, the Bitcoin price saw a bullish reversal in late 2018, as the supply in loss crossed this 10 million threshold. A similar pattern could be seen for BTC’s price when its Supply In Loss climbed to this mark around 2022.

Martinez explained:

I believe this is an important signal because selling pressure often begins to fade as fewer investors are willing to realize losses, increasing the probability of a market bottom forming.

Based strictly on historical context and patterns, there is a high likelihood that a price bottom is forming for BTC at current levels. However, an important factor to discount is that the Bitcoin circulating supply was markedly lower in both periods (around 17.4 million and 19.2 million towards the end of 2018 and 2022, respectively).

Lower circulating supply could mean the Supply In Loss might edge slightly higher this time, suggesting the BTC price could see further downside. This was evident in 2015 (when the circulating supply was much lower), when the Supply In Loss didn’t reach the 10 million threshold before a bullish reversal.

Bitcoin Price At A Glance

As of this writing, the price of BTC stands at around $62,746, reflecting a 2.5% jump in the past 24 hours.

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Ethereum’s RSI Just Hit Its Lowest Level In History, And That May Be Exactly The Point

Ethereum’s latest price crash has pushed the cryptocurrency below $1,800, placing its monthly chart under pressure at a time when the entire crypto market sentiment has turned heavily bearish. There is also another weakness coming from the monthly RSI, which has now dropped to its lowest level since the asset launched in 2015.

That reading has made the current setup very important, as previous deep RSI resets appeared near major Ethereum cycle lows in 2020 and 2022, and there’s also a question of whether the same pattern is forming again.

RSI Hits Its Lowest Level Since Ethereum’s Launch

Ethereum has endured a brutal nine months since it peaked at $4,946 in August 2025. The brutal price action has culminated in a break below $1,800 in June, with the leading altcoin falling to as low as $1,536 in the past 24 hours, which is its lowest price level so far in 2026.

Interestingly, that crash has caused the monthly Relative Strength Index (RSI) on ETH/USD to print its lowest reading since Ethereum’s launch in 2015. The monthly RSI indicator chart shows the index dropping to around 40, its lowest level on the monthly timeframe since ETH began trading in 2015.

Ethereum Price Chart. Source: @CryptoPatel On X

What Does This Mean For Ethereum?

Back in 2020, Ethereum’s RSI reached a depressed level before ETH began a massive rally from around $88 to its 2021 peak above $4,800. Again in 2022, another deep RSI reset came before ETH eventually rallied from around $880 to its 2025 all-time high.

The current setup is not a guarantee that these same rallies will repeat, but it does show that Ethereum is now in the type of momentum zone that has always appeared closer to major bottoms than cycle tops. 

A notable difference this time is that the RSI has gone even lower, making the 2026 reading the most extreme in the cryptocurrency’s history. If history repeats itself, the ensuing rally might be even larger than those seen in the previous cycles.

Technical analysis of the monthly candlestick timeframe presents Ethereum as moving through another four-year cycle, similar to the move from the 2017 top to the 2021 top. As shown in the chart image above, the 2017 cycle peak is the first major top, the 2021 peak is the next major cycle high, and then there is a projection of a possible top around $10,000 sometime in 2026-2027.

At the time of writing, Ethereum is trading at $1,612, leaving bulls with the immediate task of defending the $1,600 region with stronger inflows. Speaking of inflows, Spot Ethereum ETFs ended a 17-day streak of outflows on Thursday, June 4, after recording $19 million in net inflows. However, that relief was short-lived, as Friday’s session returned to negative territory with $5.97 million in net outflows.

Featured image from Unsplash, chart from TradingView

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A 400 Billion Shiba Inu Surprise: Whale Wallet Springs Back To Life

Long traders bore the brunt of the damage when over $382,000 in Shiba Inu futures positions were liquidated in a single day, with $365,660 wiped from bullish bets and just $17,320 lost on the short side.

That wave of forced closures came as a long-dormant SHIB wallet suddenly came back to life after nearly 10 months of silence, drawing fresh attention to a token already under pressure.

A Wallet Empties Out

Data from Arkham Intelligence shows the wallet began its return with a test run — a small 10 million SHIB transfer through a MetaMask swap.

After that, the holder moved fast, pushing nearly 400 billion tokens through BitGo’s Forwarder Smart Contract across three separate transactions: nearly 112 billion first, then almost 190 billion, then a final 99 billion. When it was done, the wallet held just 110 SHIB.

The total amount transferred came to 399,989,999,938 SHIB. The address, which had sat untouched since roughly last August, was effectively cleared out in a matter of hours.

Reading The BitGo Move

What the transfers mean is harder to pin down. BitGo’s infrastructure is commonly used by institutional players for OTC deals or to move assets into cold storage — neither of which shows up as a sell on public exchanges. So while the scale of the move is hard to ignore, it does not confirm any tokens were sold into the market.

What is clear is that a holder sitting on a position worth tens of millions of dollars chose this particular week to act — a week when the broader crypto market was already sliding.

Shiba Inu Under Pressure

SHIB dropped 16% over the past week and lost the $0.000005 psychological support level in the process. At last check, the token was trading at $0.000004535, down another 3.50% in the prior 24 hours.

The decline has pushed the memecoin toward the edge of the top 30 cryptocurrencies by market cap, with SHIB sitting at 29th place and a market value of $2.65 billion.

The timing of the whale’s reactivation, arriving alongside a broader market selloff and a fresh round of liquidations, made the move impossible to ignore — even if its purpose remains unknown.

Featured image from Unsplash, chart from TradingView

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Ethereum Exchange Inflows Climb To 4-Month High – What This Means For Price

Over the past week, the Ethereum price declined significantly, following Bitcoin’s downturn towards $59,000. As the second-largest cryptocurrency’s price dropped to $1,505, data from a recent on-chain analysis reveal an underlying shift in activity across exchanges.

Ethereum Exchange Inflows Surge To 2.24 Million In A Day

In a Quicktake post on June 6, the on-chain analytics group Arab Chain cited data from the “Ethereum: Exchange Inflow (Total) – All Exchanges” metric, noting that inflows across all platforms recently reached 2.24 million in a single day. According to Arab Chain, this marks the highest point reached in the past four months.

For context, the metric measures the total amount of ETH transferred to all tracked cryptocurrency exchanges over a given period, helping gauge potential selling pressure as coins move to trading platforms. When inflows are high, it suggests that a large amount of ETH may be being prepared for sale.

As Arab Chain notes, when large volumes of Ethereum are moved to trading platforms, it is usually taken as a bearish signal or an incoming surge in trading activity (which could translate into heightened volatility). This is because growing inflows indicate that there is more available supply for distribution than in the past.

 

Binance Leads Exchanges In Inflow Volume

Notably, Arab Chain points out that Binance, the world’s leading crypto exchange by trading volume, had the lion’s share of Ethereum inflows. According to the analytics group, Binance saw over 1.16 million ETH in inflows on the same day, while a total of 2.24 million ETH were sent to all exchanges. 

Interestingly, the surge in exchange inflows reportedly followed a period of relative stability in deposit activity. Thus, Arab Chain explains that this sudden surge — after periods of quiet — becomes more important than other previous events. According to the crypto group, this may signal that Ethereum’s investors are preparing to take profits or restructuring their portfolios. 

However, Arab Chain notes that high inflows are not a surefire indicator of bear markets. Nonetheless, they remain highly relevant considering Ethereum’s price weakness. According to Arab Chain, sustained high inflows of Ethereum into exchanges (with an emphasis on Binance) could intensify selling pressure and trigger a further downturn for the second-largest cryptocurrency in the near term. 

At the time of writing, the Ethereum price is at $1,577. According to CoinMarketCap data, the Ethereum price is down 5.35% over the past day.

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Analyst Predicts When Bitcoin Price Will Reach $100,000 In 2026

A crypto analyst has shared a detailed forecast outlining when Bitcoin could regain bullish momentum and climb back toward $100,000. The expert mapped out the asset’s expected monthly price targets throughout 2026, highlighting periods of sharp sell-offs and a potential recovery phase.

While some months point to extreme price declines and market uncertainty, the forecast suggests Bitcoin may gradually rebuild strength and enter a fresh uptrend that could push it back toward six-figure territory.

Bitcoin Price Forecast From June To September 2026

In an X post published on June 3, crypto market analyst Aralez presented his outlook for Bitcoin in 2026, detailing where he believes the leading cryptocurrency could trade throughout the year. The analyst noted that BTC is still in a strong bear market until a final bottom is reached. According to him, both the second quarter (Q2) and third quarter (Q3) are likely to remain bearish, with Bitcoin set for further declines.

At the time of writing, Bitcoin is trading near $60,000 after shedding more than 17% over the past week. During this period, BTC has struggled under mounting selling pressure, weakening market sentiment, and broader geopolitical uncertainty tied to the ongoing US-Iran conflict. Aralez believes this downturn may not be over, forecasting that Bitcoin could finish June with a major bearish sweep toward the $60,000 level.

Supporting his bearish stance with a well-detailed chart, the analyst expects an even steeper decline for Bitcoin in July. He predicts that BTC could fall to as low as $53,000, marking a drop of more than 11% from the $60,000 support area.

Aralez described the projected move as a major bear trap, where traders are lured into expecting a prolonged breakdown before the market eventually reverses to the upside.

Drawing from this, the crypto expert sees the possibility of a short-lived relief rally by August. He predicted that Bitcoin could rebound into the $65,000-$68,000 range, though that move may end up becoming a significant bull trap, as the analyst’s outlook for next month points to another sharp decline.

Notably, Aralez’s October forecast appears to mark the end of Bitcoin’s bearish cycle. The analyst projects a final market bottom near $46,000, a level representing a decline of more than 23% from Bitcoin’s current price of near $60,000. According to his projection, this capitulation event could set the stage for a broader market recovery later in the year.

BTC Recovery Plan Targets $100,000 By December 

For all of Q4 2026, Aralez forecasts a strong recovery for Bitcoin, with prices potentially climbing back toward $100,000. He predicts this rebound to begin in October, with the price officially breaking out of its current downtrend and steadily moving upward.

By November, Aralez projects Bitcoin could rally above $85,000, a level that would confirm a renewed bull market. After clearing this resistance, stronger bullish momentum could extend into December, with the analyst suggesting a possible move toward the $100,000 psychological level, representing roughly a 65% gain from current levels. 

Featured image from Unsplash, chart from TradingView

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Bitcoin Testing A Critical Support After Sharp Market-Wide Selloff

Bitcoin is facing a pivotal moment after a sharp market-wide selloff dragged prices toward a major support level. As bearish momentum begins to slow and signs of buyer interest emerge, the coming days could reveal whether this zone becomes the foundation for a rebound or the gateway to a deeper correction. 

Bitcoin Loses Previous Monthly Low As June Begins

Analyzing Bitcoin’s outlook for June, Lennaert Snyder observed that BTC started the month by breaking below the previous month’s low, a development that has weakened the near-term technical picture. In his view, this early loss of support makes a move toward the prior monthly high near $82,800 significantly less likely.

The analyst explained that monthly clearout candles are relatively rare occurrences, reducing the probability of Bitcoin reclaiming higher levels in the short term. Attention is now shifting toward a major support zone that could influence market direction throughout the remainder of the month.

Snyder also noted that the recent selloff left behind considerable liquidity, creating an environment where prices could become increasingly volatile. As Bitcoin trades within this broader support range, he expects periods of consolidation and choppy price action, along with occasional relief rallies.

Moving forward, the analyst intends to closely track price behavior for potential intraday opportunities and liquidity-driven setups. He added that another sharp downside sweep could trigger additional long liquidations, generating fresh trading opportunities.

BTC Faces Its Biggest Test Yet At $60,000

Kamile Uray noted that Bitcoin suffered a sharp decline alongside the broader financial markets, bringing the cryptocurrency back to the closely watched $60,000 level. The analyst emphasized that this area has long been considered a major support zone, and a stronger buyer response here could spark a corrective rebound following the recent selloff.

Uray also pointed out that the Relative Strength Index (RSI) remains in oversold territory on both the daily and 4-hour timeframes. Such conditions indicate that bearish momentum may be weakening, increasing the possibility of a short-term recovery.

According to the analyst, the formation of candles with long lower wicks would be an encouraging sign that demand is emerging at current levels. In the event of a rebound, the first resistance to watch sits around $67,500, followed by the more significant $74,000–$75,000 zone. However, Uray cautioned that the risk of further downside will remain until Bitcoin can establish sustained strength above $74,569.

Currently, the $60,000 level remains the key line of defense for the bulls. A decisive break below this support could expose Bitcoin to a deeper decline toward the $55,000–$50,000 region. On the upside, if momentum continues to improve, key resistance levels are at $74,569, $82,885, $98,000, and the $107,000–$109,000 area, with the latter expected to act as a major barrier to further gains.

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