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Crypto Technical Analysis Report – 19th June 2025
The cryptocurrency market has been marked by a rather unusual phenomenon over the past few days, with Bitcoin’s price continuing to climb steadily despite trading volumes hitting their lowest levels since the start of the 2023-2026 cycle. The lack of interest from retail investors and the brief dipping of perpetual swap funding rates into negative territory could suggest that we are approaching all-time highs in an unconventional manner.
Despite the subdued activity, on-chain data reveals a significant accumulation trend among long-term holders. As exchange and OTC balances decrease at a consistent rate, this tightening supply and growing conviction among these investors may be setting the stage for a sharp and potentially volatility-driven breakout.
In addition to this, Bitcoin futures open interest has reached record levels, indicating that market participants are heavily leveraged and poised for a massive move in either direction. The combination of dwindling supply and high-leverage positioning may be priming the market for a dramatic swing.
It is essential to note that after making an all-time high of $111,980, Bitcoin witnessed some profit-taking at higher levels, causing it to fall by approximately 10.35% before rebounding back up to $110k. The asset has now been struggling to maintain momentum above this level and faces stiff resistance around $110,000.
In order to make a new push upward, Bitcoin needs to convincingly break above $110,000, close, and sustain above it. Key support levels will be at $100,000 and $90,000.
Source: zebpay.com
