Price Analysis View Non-AMP

Bitcoin (BTC) Price Analysis: Dead Cat Bounce or Full Blown Rebound?

Published by
Steve Muchoki

After a major downfall in the relationship between the two most powerful pro-crypto individuals, Elon Musk and Donald Trump on Thursday, Bitcoin (BTC) has led the wider crypto market in heightened volatility. The flagship coin teased below $101k in the past 24 hours before rebounding from the support level above $101,500 to trade about $104,543 on Friday, June 7, 2025, during the late North American trading session.

Amid the heightened crypto volatility, which caused a significant spike in forced crypto liquidations, the fear of further short-term selloffs remains palpable. Moreover, Bitcoin’s fear and greed index dropped from over 62 percent, suggesting market greed, to about 45 percent at the time of this writing.

What Next for Bitcoin Price?

Since recently hitting a new all-time high of around $111,690, BTC price has been trapped in a short term falling trend. The recent rebound in the past 24 hours confirmed that BTC price continues to move in a symmetrical falling channel.

From a technical analysis standpoint, the BTC price is at a crucial crossroads, which could either mean further correction or a fresh rally toward a new ATH. From the bullish point of view, BTC price has recorded a golden cross in the daily timeframe between the 50 and 200 Moving Average Simple (SMA).

In the four-hour timeframe, the BTC price has been retesting the upper border of the falling channel. With the 4-hour MACD line having crossed the signal line, BTC price may continue with bullish sentiment beyond $106k.

From the bearish perspective, the BTC price has not yet formed any solid reversal pattern after being trapped in a falling channel in the past few weeks. As a result, a potential close below the support level around $103,329 will trigger a correction towards the support level around $101,570.

Steve Muchoki

Steve is a crypto news writer with a passion for decoding market moves. He blends breaking blockchain news with sharp technical analysis and bold price predictions. From Bitcoin rallies to altcoin breakouts, Steve breaks it all down with clarity and insight. Whether you're a trader or just curious, his analysis keeps you ahead of the curve.

Recent Posts

Just In: Hashdex ETF First to Hold XRP and Stellar After SEC Approval

The U.S. Securities and Exchange Commission (SEC) has approved an amendment to the Hashdex Nasdaq…

September 25, 2025

Gate Launches High-Speed, Low-Cost Layer 2 Network and New Upgrades

Gate, a leading cryptocurrency exchange, is rolling out major initiatives to boost blockchain adoption and…

September 25, 2025

Aster (ASTR) Price Dips Today: Is a Major Bull Run to a New ATH Coming Next?

Aster is making headlines today as its price experiences a sharp pullback. This has sparked…

September 25, 2025

Why ETH Is Going Down? How Low Can Ethereum Price Drop?

Ethereum ($ETH) has recently fallen below the key $4,000 support level, raising concerns among investors…

September 25, 2025

Australia Moves to Regulate Crypto Like Traditional Finance

The Australian government has released draft legislation that would bring crypto firms under the same…

September 25, 2025

Nine European Banks Launch Euro-Backed Stablecoin to Challenge US Dollar Dominance

Nine of Europe’s leading banks have come together to issue a euro-backed stablecoin, marking a…

September 25, 2025