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๐ $BTC USDT Current Market & Technical Overview
1. Key News Context
Bitcoin has slightly pulled back (~โ0.1%) to around $104,900โabout 7% below its recent peak near $112,000 .
ETF inflows remain robust (โ$216M on Juneโฏ18, ~$1.8B in six days), hinting at underlying demand . Key resistance sits around $107,000โ$108,000, with previous highs near $112K .
Support is likely forming between $104K and $105K, reinforced by ETF inflow stability .
Candlestick patterns like doji/hammers could signal indecision or reversal, but require confirmation โ Summary & Suggestions
Scenario Level Strategy
Breakout above $107K ~$107,300+ Go long with target ~$110โ112K, stop-loss ~106K Breakdown below $105K <$105,000 Consider short or holding off, target ~$103โ104K
Watch volume: A breakout without volume may be false.
Be alert: Upcoming macro signals (dollar moves, Fed decisions) may tip momentum .
๐ Final Take
Today's outlook leans slightly bullish, but it hinges on crossing the $107K resistance with conviction. Below that, caution is wise with possible retracement testing the $104โ105K band. Use candlestick signals and volume to guide trades, and always manage risk with clear stops.
The candle chart included above reflects a short-term bearish tone:
Support: $ICP has been hovering near the $5.00โ$5.40 rangeโa key support zone. Breaching below $5.00 could open a drop toward $4.80 or even $4.50 .
Resistance: Short-term hurdles lie at the $5.15โ$5.25 and $5.80 levels .
Indicators: Tools like MACD and RSI are slightly bearish, momentum is fading, though strong selling hasn't fully set in yet .
So in the near term, ICP could stay flat or dip, unless volume spikes or broader market sentiment shifts.
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๐๐ฅ Why Did Bitcoin Drop After Hitting $108,899? ๐ฑ The Shocking Truth Behind the Sudden Crash! In a jaw-dropping move, Bitcoin (BTC) surged to an all-time high of $108,899โonly to sharply reverse course within hours, plunging back below the $100K mark. The entire crypto market was caught off guard, with billions wiped out in minutes. So, what caused this violent reversal? Letโs break down the real reasons behind Bitcoinโs dramatic drop. ๐ง ๐ โธป ๐ The Rise to $108,899 โ What Fueled the Hype? Bitcoinโs surge to $108,899 was driven by a perfect storm of bullish momentum: โข โ Continued institutional accumulation by BlackRock, Fidelity, and sovereign funds. โข โ The Bitcoin ETF inflows hit record highs. โข โ Speculation around a U.S. interest rate cut and weakening dollar. โข โ Post-halving supply shock tightening the market. But as we know, what goes up too quicklyโฆ can fall just as fast. ๐ช โธป โ ๏ธ Key Reasons Behind the Sudden Drop 1. Massive Whale Profit-Taking ๐๐ฐ Whales who bought in the $60Kโ$70K range saw over 50% gains. On-chain data showed: โข Over $2.4 billion in BTC transferred to exchanges within hours of the peak. โข A spike in wallets over 1,000 BTC trimming holdings. 2. Derivatives Overload & Liquidations ๐ฃ Funding rates were sky-high, and open interest hit unsustainable levels on Binance, Bybit, and Deribit. โข Over $1.1 billion in long positions were liquidated in a cascade effect. โข Traders who over-leveraged at the top were wiped out in minutes. 3. โSell the Newsโ Event ๐ฐ๐ Rumors of a โBitcoin Countryโ adopting BTC as legal tender were confirmed, but the market sold the news instead of rallying. โข Similar to past cycles, bullish news was already โpriced in.โ 4. U.S. Government BTC Movement ๐๐ป Blockchain trackers noticed a large batch of U.S. government-seized Bitcoin (linked to Silk Road) being transferred to exchanges, sparking fears of a government sell-off.
#FOMCMeeting The Fedโs next interest rate decision will be announced tomorrow. Recently, President Trump urged Fed Chair Powell to cut rates again, hinting he that he might have to "force something" if inflation continues to ease and rates remain unchanged. ๐ฌ Are you expecting to see a hike, a cut, or another pause? How are you positioning ahead of the announcement? ๐ Complete daily tasks on Task Center to earn Binance Points: โขย Create a post using #FOMCMeeting , or the $BTC cashtag โขย Share your Traderโs Profile, โขย Or share a trade using the widget to earn 5 points! (Tap the โ+โ on the Binance App homepage and select Task Center) Activity Period: 2025-06-17 06:00 (UTC) to 2025-06-18 06:00 (UTC) Rewards are first-come, first-served, so donโt forget to claim your points daily! ๐จ Traderโs League Season 2 is live: Create a post with the Trade Sharing widget and #TradersLeague to unlock extra rewards! ๐ Full T&Cs here ๐ Explore Traderโs League