Bitcoin’s rapid surge into six-figure prices in early May sparked a wave of enthusiasm and bullish sentiment among investors. The psychological milestone of $100,000 coupled with rising altcoin prices, further fueled the rally.
Bitcoin is Breaking records, but Struggling to Hold Ground Above $100,000
3 June 2025 - 17:28 CEST
But in the past week, Bitcoin has lost momentum, slipping from over $110,000 to $105,000 as traders reassess and search for a firm support level. Despite a full-throated endorsement from the White House bulls remain passive, with some experts believing that a continued slowdown could bring the coin’s price to $103,700 levels.
Leveraged trading
Indeed, during weekend trading, BTC’s price briefly hovered around $103,000 before recovering to find support at $105,000 by the start of the business week on Monday. Leveraged trading is increasing after the coin hit a new all-time high, while perpetual futures contracts are rising. This could lead to price volatility, especially as trade tensions between the US and China remain unresolved.
"Squeezes in either direction"
“While long liquidations are the norm, the current funding rate structure offers an ambiguous picture, pointing toward heightened likelihood of squeezes in either direction,” Analysts from K33, a Norwegian digital assets research and brokerage firm, reported last week.
As Bitcoin navigates its new life above the $100,000 threshold, uncertainty reigns. The market is currently characterized by geopolitical tensions, growing leverage, and mixed signals from perpetual futures.
Resilience, not euphoria
This suggests that Bitcoin’s next chapter will be defined less by euphoria and more by resilience. Until a clear directional trend emerges, investors should anticipate swings and watch closely for signs of where true support lies. It might also dampen talk of Bitcoin being the ‘new gold’ -- a debatable claim implying that it’s a hedge against inflation and geopolitical risk.
