US President Donald Trump promoted a 250th anniversary celebration of the Army that coincided with his birthday, leading to a sharp divide in how many Americans spent June 14.

Coinbase slammed for backing US Army parade

Bitcoin price started a fresh increase and tested the $108,800 zone. BTC is 
struggling to rise further and is correcting gains below $108,000. Bitcoin 
started a fresh increase above the $107,000 zone. The price is trading above 
$106,800 and the 100 hourly Simple moving average. There was a break below a 
bullish trend line with support at $107,800 on the hourly chart of the BTC/USD 
pair (data feed from Kraken). The pair could start a fresh increase if it 
stays above the $105,500 zone. Bitcoin Price Starts Fresh Increase Bitcoin 
price started a fresh increase from the $104,500 support zone. BTC climbed 
above the $105,500 and $106,200 levels to enter a positive zone. The price 
even jumped above the $108,000 resistance. However, the bears remained active 
amid rising global conflict fears. A high was formed at $108,898 and the price 
is now correcting gains. There was a move below the $108,000 level. The price 
dipped below the 23.6% Fib retracement level of the upward move from the 
$104,529 swing low to the $108,898 high. Besides, there was a break below a 
bullish trend line with support at $107,800 on the hourly chart of the BTC/USD 
pair. Bitcoin is now trading above $106,800 and the 100 hourly Simple moving 
average. On the upside, immediate resistance is near the $107,600 level. The 
first key resistance is near the $108,000 level. The next key resistance could 
be $108,800. A close above the $108,800 resistance might send the price 
further higher. In the stated case, the price could rise and test the $110,000 
resistance level. Any more gains might send the price toward the $112,000 
level. More Losses In BTC? If Bitcoin fails to rise above the $108,000 
resistance zone, it could start another decline. Immediate support is near the 
$106,700 level and the 50% Fib retracement level of the upward move from the 
$104,529 swing low to the $108,898 high. The first major support is near the 
$106,200 level. The next support is now near the $105,500 zone. Any more 
losses might send the price toward the $103,500 support in the near term. The 
main support sits at $102,000, below which BTC might gain bearish momentum. 
Technical indicators: Hourly MACD – The MACD is now gaining pace in the 
bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is 
now near the 50 level. Major Support Levels – $106,700, followed by $105,500. 
Major Resistance Levels – $107,600 and $108,000.

Bitcoin Price Struggles for Momentum Amid Rising Global Conflict Fears

Bitwise Asset Management’s European research arm argues that the sharp sell- 
off that followed last week’s military escalation between Iran and Israel is 
likely to give way to a powerful relief rally in Bitcoin, echoing the 
cryptocurrency’s behaviour after earlier geopolitical shocks. In its 16 June 
weekly newsletter Bitwise Europe points to a “Chart of the Week” that lines up 
the twenty most significant geopolitical risk events since July 2010 and finds 
that, on average, Bitcoin was “up 31.2 percent fifty days after the event, 
with a median gain of 10.2 percent.” According to the authors, “major 
geopolitical risk events tend to be good buying opportunities for bitcoin and 
other crypto assets.” The firm’s in-house Crypto Asset Sentiment Index briefly 
turned negative on Friday—its first dip below zero since May—but had already 
swung back into slightly bullish territory by Monday morning, a shift Bitwise 
attributes to renewed inflows into spot exchange-traded products and continued 
US-dollar weakness. At Bitcoin’s current price of around $107,000, a 31% rally 
would bring it to approximately $140,000. Missiles Fly, Bitcoin To $140,000? 
The historical analogue is being tested in real time as markets digest the 
first open exchange of missiles between Tehran and Jerusalem. The Associated 
Press reports that Iran has fired more than 370 projectiles at Israel since 13 
June, killing at least twenty-four people, while Israel claims to have 
destroyed over 120 Iranian launchers and says it now enjoys “full aerial 
superiority over Tehran.” Related Reading: Bitcoin 656% Cyclical Gain 
Highlights Deep Market Demand – Glassnode The confrontation triggered a 
textbook flight to safety: gold blasted through $3,430 an ounce on Friday, 
establishing a fresh record high, while Brent crude spiked and global equities 
lurched lower. Bitcoin, which had been flirting with its all-time peak near 
$111,000 early last week, sank as low as $102,600 during the first wave of 
air-strike headlines before rebounding to the $106,000–107,000 zone. Even 
after that drawdown, Bitwise notes, the flagship cryptocurrency still out- 
performed the S&amp;P 500 on a weekly basis thanks to a late-week equity swoon. 
Bitwise’s thesis rests on three pillars. First is behavioural: previous 
geopolitical shocks—from Russia’s 2014 annexation of Crimea to the US–Iran 
standoff of January 2020—produced knee-jerk liquidations in risk assets, yet 
Bitcoin’s selling pressure tended to exhaust quickly, setting the stage for a 
mean-reversion pop. Second is macroeconomic. Related Reading: Bitcoin Future 
Post Israel-Iran Event: On-Chain Analysis Disputes BTC’s $50K Crash The firm 
highlights a “pronounced depreciation of the US Dollar,” as the DXY index slid 
to its weakest level since March 2022 following softer-than-expected inflation 
prints and another uptick in continuing unemployment claims. Fed-funds futures 
now imply 1.9 rate cuts by December 2025, loosening global financial 
conditions and historically favourable for non-yielding, dollar-denominated 
assets such as Bitcoin. Third is structural demand: US spot Bitcoin ETFs took 
in a net $1.37 billion last week, while corporate treasuries kept 
accumulating—Strategy’s Michael Saylor announced the acquisition of 10,100 BTC 
for $1.05 billion today , and Tokyo-listed Metaplanet disclosed an additional 
1,112 BTC purchase that brings its war chest to 10,000 coins. In derivatives, 
Bitwise flags that the put-call open-interest ratio on Bitcoin options ended 
the week at 0.61 after dipping to 0.55, while the one-month 25-delta skew 
flipped decisively into positive territory at +4.87 percent, indicating a 
premium for upside exposure despite realised volatility languishing around 30 
percent. Funding rates on perpetual swaps also remained net long even during 
Thursday’s risk-off purge, a pattern the firm interprets as “bullish 
positioning or demand for topside hedging.” Behind the scenes, whales withdrew 
a net 169,527 BTC from exchanges, and exchange-held reserves fell to 2.92 
million coins—about 14.6 percent of supply—further tightening spot liquidity. 
Sceptics may note that past performance is not predictive and that the 
explosive rally following Russia’s 2022 invasion of Ukraine was fuelled in 
part by unprecedented monetary stimulus that may not be replicated. Bitwise 
itself concedes that realised losses spiked to $55.5 million on-chain last 
week and that momentum in “apparent demand” has softened. Yet the firm argues 
that the confluence of structural inflows, dollar weakness and depressed 
sentiment mirrors the set-ups that preceded its historical sample of 
31-percent rallies. As the newsletter concludes, “structural demand by both 
ETPs and corporate treasuries as well as continued macro tailwinds via Dollar 
weakness and global money supply expansion still support a positive market 
development for bitcoin and crypto assets.” At press time, BTC traded at 
$107,239. Featured image created with DALL.E, chart from TradingView.com

Bitcoin To $140,00 In 50 Days? Bitwise Bets On War Rally

The median cost of mining a single Bitcoin was only $52,000 in Q4, but jumped 
23% in the first quarter and has risen again in Q2.

Bitcoin production costs up 9% on higher hashrate, energy prices

Bank of America now places bitcoin among the most disruptive forces in a 
millennium, signaling Wall Street’s awakening to its historic role in 
reshaping global financial power. 1,000 Years of Disruption: Bank of America 
Ranks Bitcoin Among Humanity’s Greatest Innovations Bank of America (BofA) 
Global Research released a long-term chart outlining 1,000 years of 
technological […]

Bank of America Charts Bitcoin Among Most Disruptive 1,000-Year Innovations

Bitcoin has lost recent gains in a $2,000 slide as Middle East tensions 
escalated on Monday night.