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Crypto Technical Analysis Report – 19th June 2025
Despite the bearish sentiment and muted trading volumes, Bitcoin’s price has continued to surge, reaching new all-time highs. The cryptocurrency’s value has increased steadily, with no signs of slowing down anytime soon. This steady climb is particularly noteworthy considering the lack of retail investor participation and perpetual swap funding rates dipping into negative territory.
However, beneath this calm exterior lies a more complex situation. On-chain data reveals that there is a significant accumulation taking place among long-term holders. As exchange and OTC balances dwindle, it becomes increasingly apparent that supply is tightening, indicating growing conviction among investors. Furthermore, Bitcoin futures open interest has reached record levels, signifying that the market is highly leveraged.
This unusual combination may be setting the stage for a sharp breakout driven by volatility, which could propel the cryptocurrency even higher. It’s worth noting that BTC-USDT daily chart shows that after reaching an all-time high of $111,980 and experiencing some profit booking at higher levels, the price fell almost 10.35%, dropping to $100,382.
However, the asset took support at the key psychological level of $100k and bounced back up to $110k. The bulls are struggling to maintain momentum at higher levels, with BTC facing resistance around $110,000. To rally further, it needs to break, close, and sustain above $110k. Conversely, any decline below $100,000 and $90,000 may serve as strong support levels for the asset.
In conclusion, it’s essential to keep an eye on this market as it appears primed for a significant move.
Source: zebpay.com
