Price Analysis View Non-AMP

Bitcoin (BTC) Price Drop To $105k Divides Crypto Traders: What Next?

Published by
Steve Muchoki

The ongoing Middle East conflict has impacted the wider cryptocurrency market led by Bitcoin (BTC) price. In the past 24 hours, BTC price dropped over 3 percent to trade about $105k on Friday, June 13, 2025, during the mid-North American trading session. 

The wider altcoin market experienced a similar drop, resulting in more than $1.1 billion rekt from crypto leveraged markets in the last 24 hours. As a result, crypto traders have been mixed with some remaining optimistic while some waiting for a clear signal to re-enter.

Bitwise CIO Matt Hougan Issues a Bold Bitcoin Prediction

The cryptocurrency market has been experiencing a stablecoins summer following the ongoing regulatory goodwill from major jurisdictions, led by the United States. As the global money supply (M2) grows exponentially, more institutional investors have proliferated into the stablecoins market, thus significantly improving the crypto liquidity.

Following the Bitcoin and wider altcoin drop in the past few days, Matt Hougan, the CIO at Bitwise, highlighted that an accumulation is more likely in the coming weeks before a parabolic rally before the end of this year.

“I think this is the ‘Summer of Accumulation’, a moment for long-term investors to build positions ahead of an epic EOY run,” Hougan noted.

What the Chart is Saying?

After enjoying an impressive rally following the end of the trade wars in the past two months, BTC price experienced a significant resistance level of about $112k. The flagship coin failed to rally beyond $112k and has since retraced to a crucial buy zone of around $105k. 

In the four-hour timeframe, Bitcoin’s Relative Strength Index (RSI) and MACD line KAS been hinting at potential reversal. Furthermore, the RSI has been hovering around the oversold levels and the MACD’s histogram has been hinting at declining selling pressure.

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

El Salvador’s Bitcoin Strategy Faces Doubts Amid IMF Pressure and Mixed Signals

El Salvador’s Bitcoin journey is facing fresh doubts. The government says it’s still buying BTC…

July 26, 2025

Dogecoin Price Eyes Parabolic Rally as Double Bottom Pattern Emerges

The Dogecoin price is once again at the center of crypto market attention. After a…

July 26, 2025

XRP Price News: Top Analyst Predicts Massive Rally For XRP Toward $9–$24

XRP has bounced back from the $3 support level and is now trading around $3.20.…

July 26, 2025

Japan’s Slow Crypto Approval Process Holds Back Innovation, Says WeFi CEO

Maksym Sakharov, CEO of decentralized bank WeFi, says Japan’s slow and cautious regulatory process is…

July 26, 2025

Did Galaxy Digital Just Sell Stolen Bitcoin? CryptoQuant CEO Raises Big Questions

A quiet $9 billion Bitcoin sale has now turned into a major controversy and it…

July 26, 2025

South Korea Seeks Trade Deal with U.S. Ahead of Tariff Deadline

South Korea is racing to finalize a trade agreement with the U.S. before August 1,…

July 26, 2025