news 
Crypto Technical Analysis Report – 12th June 2025
As we enter the second half of June, it’s essential to stay updated on the latest market trends and insights. In this report, we’ll delve into the current state of the cryptocurrency market, focusing primarily on Bitcoin.
Bitcoin’s price has continued its upward momentum, with a steady climb despite dwindling trading volumes since the beginning of the 2023-2026 cycle. Surprisingly, perpetual swap funding rates have briefly dipped into negative territory, an uncommon scenario for a market approaching all-time highs. While retail investor participation remains muted, on-chain data reveals that stealth accumulation is underway.
On one hand, the exchange and OTC balances continue to exhibit a consistent drawdown, indicating a tightening supply and growing conviction among long-term holders. Conversely, Bitcoin futures open interest has reached near-record levels, suggesting that the market is perilously over-leveraged. This peculiar combination may be setting the stage for a sharp, volatility-driven breakout – a perfect storm in the making.
As per the BTC-USDT daily chart, after recording an all-time high of $111,980, Bitcoin witnessed some profit booking at higher levels, leading to a decline of approximately 10.35% and dipping to $100,382. Support was found at the psychologically significant level of $100k, followed by a bounce back to $110k. However, the bulls are struggling to maintain momentum at these elevated levels, with Bitcoin facing resistance around $110,000.
To advance further, it is imperative for Bitcoin to break above, close, and sustain above $110k. Conversely, $100,000 and $90,000 will serve as strong support zones for the asset.
Stay updated with our insights and market intelligence at ZebPay.
Source: zebpay.com
