The price of the world’s leading cryptocurrency, Bitcoin, has fallen below $104,000. Traders are cautious about the prospects for further market movement.
Despite the recent decline, Bitcoin continues to try to return to the highs of 2024. The BTC/USD pair has shown an 8% drop from a record high of $112,000.
Financial analysts suggest that June may end without significant changes in the market unless a new catalyst appears.
Geopolitical Tensions and Stock Indices
Amid geopolitical instability, US stock indices opened cautiously. The Kobeissi Letter trading resource emphasized the uncertainty of the situation, pointing out possible risks for investors.
Analyst Filbfilb suggested that an undesirable period may come for risky assets.
Traders’ opinions
Some traders, such as Jelle, consider the market reaction to testing the lows to be excessively bearish. At the same time, trader Usach expressed satisfaction with the close of the May monthly candle.
Expectations for the future
Market participants assume that the BTC/USD pair will experience a period of sideways trading. Trading company QCP Capital has set a price corridor within 100-110 thousand dollars.
Trader Daan Crypto Trades pays attention to the market behavior at the opening of the previous month to better understand the current trends.
The situation on the cryptocurrency market remains tense and unpredictable, requiring traders to carefully analyze and be careful in making decisions.
