Key Highlights:
- Bitcoin faces resistance near $109,000 but shows potential for resumed uptrend.
- BNB and Hyperliquid (HYPE) exhibit bullish momentum after breaking key resistance levels.
Bitcoin (BTC) Price Outlook
Bitcoin started the week cautiously, with bears testing support at $107,000. A monthly close above $104,600 in June would mark only the second positive June close since 2020.
Why It Matters:
- ETF Inflows: $2.2 billion flowed into Bitcoin ETPs last week (CoinShares data).
- Institutional Demand: MicroStrategy acquired 4,980 BTC ($106,801 avg.), while Metaplanet added 1,005 BTC ($107,601 avg.).
Technical Analysis:
- Support Levels: $106,000 (critical), $104,500 (secondary).
- Resistance: Downtrend line breakout could target $111,980 (ATH).
- Bearish Scenario: A drop below moving averages may trigger a slide to $100,000.
👉 Track Bitcoin’s live price action
S&P 500 (SPX) and US Dollar Index (DXY)
SPX Forecast
- Current Trend: Bounced off 20-day EMA (6,029), now testing ATH at 6,147.
- Bullish Target: 6,500 if sustained above 6,147.
- Risk: Rejection at ATH could retest 20-day EMA.
DXY Forecast
- Breakdown Alert: Closed below 97.92 support; next target at 95.
- Recovery Signal: Reclaiming 97.92 may rally to 50-day SMA (99.28).
Altcoin Analysis
Ethereum (ETH)
- Key Level: 50-day SMA ($2,534) acts as resistance.
- Range-Bound: $2,376–$2,738 until breakout.
XRP
- Range: $2–$2.65; breakout above 50-day SMA ($2.25) could test $2.65.
- Risk: Drop below $2 may target $1.61.
BNB
- Breakout: Cleared descending channel; next resistance at $698.
- Support: $636 (channel re-entry risk).
Solana (SOL)
- Relief Rally: Above 50-day SMA ($158) may reach $185.
- Critical Support: $140; breakdown risks $126.
Dogecoin (DOGE)
- 20-day EMA Test: $0.17 resistance; failure could retest $0.14.
- Bullish Scenario: Break above $0.21 needed for trend reversal.
Cardano (ADA)
- Key Resistance: 20-day EMA ($0.59); breakout could target $0.67.
- Support: $0.50 (descending triangle risk).
Hyperliquid (HYPE)
- Bullish Signal: Broke $39.12; targets $45.80 and $50.
- Support: 50-day SMA ($34.76) critical for trend continuity.
FAQ Section
Q: Will Bitcoin recover above $109,000?
A: Yes, if ETF inflows and institutional demand persist, though $106,000 support is key.
Q: Which altcoins show the strongest momentum?
A: BNB and HYPE lead with recent breakouts; ETH and SOL need confirmation.
Q: How does DXY weakness impact crypto?
A: A weaker dollar often boosts Bitcoin as a hedge, benefiting risk assets.
👉 Explore real-time altcoin data
Final Notes:
- Monitor Bitcoin’s $106,000 support and altcoin breakout confirmations.
- Institutional activity remains a bullish catalyst.
Disclaimer: Not financial advice. Conduct your own research.
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