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Bitcoin Price Watch: Range-Bound Action Hints at Imminent Move

The price of bitcoin hovered at $105,384 on June 8, 2025, with a market capitalization of $2.09 trillion and a 24-hour trading volume of $15.81 billion. Throughout the session, it moved within a tight intraday range of $105,112 to $105,891, indicating relative short-term stability amid a broader consolidation.

Bitcoin analyst eyes ‘near term floor’ as crypto fear hits redline

Bitcoin analyst Charles Edwards says a Bitcoin-cycle bottom could be close as negative sentiment continues to build.

Bitcoin’s price could be approaching its bottom this cycle as it lingers below $80,000 and market sentiment remains fearful, according to the founder of a crypto fund.

“Some broader macro data still looks poor, but it also wouldn’t surprise me if we put in a near-term floor locally given the significant level of fear and liquidations,” Bitcoin analyst and digital asset fund Capriole Investment founder Charles Edwards told Cointelegraph.

Bitcoin sentiment improves slightly despite stagnant price

Despite the Crypto Fear & Greed Index — which measures overall crypto market sentiment — tapping a more than two-year low score of 10 on Feb. 26 , signaling “Extreme Fear,” Edwards said he doesn’t pay much attention to it.

“I am not a big believer in the Crypto F&G metric and strongly prefer the CNN Fear and Greed metrics, which cover the broader market. It, too, is in extreme fear today. As is the AAII sentiment survey,” he said, referring to a poll by the American Association of Individual Investors.

On Feb. 27, Alternative.me’s Crypto Fear & Greed Index jumped 6 points to an “Extreme Fear” score of 16, even as Bitcoin BTC $80,190
showed no signs of a near-term recovery. Bitcoin is down 0.57% over the past 24 hours, trading at $80,190 at the time of publication, according to CoinMarketCap data.

Many observers point to macroeconomic uncertainty and concerns over US President Donald Trump’s proposed tariffs as key reasons for Bitcoin’s and the broader crypto market’s decline. Since Trump’s inauguration on Jan. 20, when Bitcoin hit an all-time high of $109,000, the asset has dropped nearly 24.5%.

Edwards sees the flashing red sentiment indicators as a sign of a market rebound. “We have quite a lot of bearish ‘sentiment’ confluence. Which historically has been a good marker for a potential dip/reversal opportunity,” he said.

Crypto investment research firm Sistine Research said that Bitcoin’s recent dip to $80,190 could mark a near-term bottom.

“Imo ~30% odds that was pico low on BTC,” Sistine Research said in a Feb. 27 X post. However, it warned that if the stock market keeps dropping in the coming days, Bitcoin could find a bottom at $73,000 instead — a level it hasn’t seen since Nov. 7.

The Standard and Poor’s 500 (S&P 500) is down 4.13% over the past five trading days, as per Google Finance data.

CryptoQuant founder and CEO Ki Young Ju recently said the chances of Bitcoin dropping below $77,000 “are low.”

Bitcoin still has “room to run”

Meanwhile, the global economist of crypto exchange Kraken, Thomas Perfumo, said in a Feb. 26 statement that Bitcoin’s structural indicators “suggest that the broader crypto market still has room to run.”

“Right now, dominance remains strong in the low 60s — indicating that market momentum hasn’t yet reached a speculative peak. At the same time, stablecoin market cap has grown 11% year-to-date, signaling continued onchain capital deployment,” Perfumo said.

Collective Shift founder Ben Simpson recently told Cointelegraph that the current market conditions could present a buying opportunity for crypto investors.

: cointelegraph.com

ETH price has surpassed 2600 USDT, now standing at
2601.06 USDT

ETHUSDT Perpetual Futures price slumped by 1.29% in 5 min, currently at 2738.29 USDT, 24h change is +0.61%

Bitcoin (BTC) reached USD 101,430.55
(+10.15%) in the last 24h

Bitcoin’s mining difficulty has edged up by 0.61%, rising from 109.78 trillion to 110.45 trillion. At the same time, the network’s hashrate remains relatively subdued, following a notable drop from its high of 824 exahash per second (EH/s) to the current 778 EH/s.

Bitcoin’s Difficulty Increases, Hashrate Falters

Since block height 878,976 was mined, the process of extracting bitcoin has grown marginally more challenging, as reflected in the 0.61% increase in the difficulty parameter. A difficulty level of 110.45 trillion indicates that the target for hashing computations is now 110.45 trillion times more complex than Bitcoin’s baseline difficulty, which was set at 1 when the network debuted in 2009.

BITCOIN Cycle Top can be as high as $200k

Bitcoin (BTCUSD) has started 2025 on high volatility amidst geopolitical and economic news input. 2025 is the last year of this Bull Cycle, according to the Cycles Theory which for more than a decade has been very accurate at predicting Cycle Tops and Bottoms.

Bitcoin and Ethereum ETFs Attract $1.1 Billion in Inflows