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06/08 10:19

Bitcoin Market Analysis

Bitcoin Market Analysis: June 8, 2025 🔍

Last 24-Hour Price Movement 📊

Bitcoin experienced a slight correction in the last 24 hours, dropping from $105,505.1 to $105,005.8 (-0.47%). Note a few key points:

 * BTC briefly hit a high of $105,859.9 yesterday

 * Trading volume was quite varied, peaking at 8:00 PM (UTC+7, your local time) with $45.4 million USD

 * The price movement pattern shows a sideways trend with a slight downward bias

Hot News Influencing the Market 🔥

1. Crypto Security Concerns

The "Bitcoin Family" is taking extreme measures by hiding their seed phrases on metal cards across four continents in response to the rise of crypto kidnapping cases. According to them: "Even if there was a gun to my head, I couldn't retrieve it." This highlights the importance of security in storing crypto assets! 🔒

2. Promising Technical Analysis

A "Cup and Handle" pattern has been detected in Bitcoin's price movement, indicating a potential signal for a price increase in the near future. Last week, BTC even touched a record high of $111,000 before entering a consolidation phase.

3. Whales vs. Miners

Recent data shows Bitcoin whales continue to accumulate up to 3.57 million BTC, nearing the peak of 3.74 million BTC from early 2021. Meanwhile, some miners have started selling, creating interesting dynamics that could influence the market's direction.

4. Ethereum Reaches New Milestone

ETH has reached a record high of 148.38 million total holders across all crypto assets, demonstrating increasing adoption within the blockchain ecosystem.

What's Next? 🚀

Despite the slight correction, Bitcoin maintains a medium-term bullish structure around the $105,000 range. Market sentiment remains relatively positive with strong institutional interest, as seen in CME futures data.

Keep an eye on the $104,000 support level and $106,000 resistance level for further movements. Remember to always diversify your portfolio and trade wisely! 😊

#DYOR

#Trump-Musk spat sees Bitcoin tumble#HTX Community's Third Anniversary

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