Bitcoin Price Update: $108K Breakout In Sight as RSI Hints at Final Bull Phase and Altcoin Surge

1 day ago 1

TLDR:

Bitcoin (BTC) retests the range high near $108K, a key level for confirming bullish continuation.
A breakout or breakdown from the current range may define June’s broader trend.
The monthly RSI enters the overbought zone, often signaling the peak phase of a bull run.
Analysts expect altcoin rotation and volatility if Bitcoin breaks above resistance.

Bitcoin’s price movement has traders weighing in on key levels that could shape market direction for June. Analysts say the current range high may be critical in deciding whether the market extends its rally or slides back into consolidation.

Price action remains volatile, with global headlines and macro events influencing sentiment. Technical signals now suggest Bitcoin could be entering a late-stage bull phase, marked by rapid price movements and potential altcoin surges.

With a growing focus on levels near $108,000, several signs point to pivotal decisions ahead.

BTC Price Faces Range High Retest

Bitcoin (BTC) is currently trading near $107,527, after a slight 1.63% dip in the last 24 hours. Despite the pullback, the weekly gain stands at 2.47%, showing buyers remain active at lower levels.

Chart data shows the range high near $108,386 serving as a vital threshold for bullish momentum. According to trader Daan Crypto Trades, if BTC stays above the range high, the uptrend could continue.

However, failure to hold may result in a retreat toward the mid-range zone at approximately $99,638. A deeper correction could target the range low near $89,250 if downside pressure persists.

A break above the current monthly high could lead to further gains through June and beyond. Likewise, if Bitcoin drops below the monthly low at $97,622, it may signal a bearish turn for the short term. Daan mentioned that any break outside this current range would likely continue in that direction throughout the month.

$BTC Update:

Now things are getting interesting.

I think the range high is a key area for the bulls to hold on to. If not, I think there's a case to be made for a local high to be put in and for the market to move back further within this range.

At this point I'm fairly… https://t.co/7rXh72b1pX pic.twitter.com/Ilzddl4Scf

— Daan Crypto Trades (@DaanCrypto) June 12, 2025

The broader market remains headline-driven, with geopolitical tension and macro news affecting sentiment. Positive developments, such as a favorable CPI report and China-related updates, failed to lift BTC for long, which traders consider a potential red flag.

Bitcoin RSI Suggests Bull Cycle Peak Approaching

Cas Abbé noted that the monthly Relative Strength Index (RSI) for Bitcoin is now entering overbought territory.

Historically, this phase marks the final stretch of a bull run, often followed by the strongest and fastest gains. Abbé pointed out that altcoins tend to outperform Bitcoin during this stage, as capital rotates across the market.

While overbought readings often raise caution, traders remain focused on the upside potential of the current cycle. Market watchers believe the next few months could bring notable volatility and possible new highs.

$BTC monthly RSI is now moving into the overbought zone.

This is a sign that we're entering the final phase of the BTC bull run.

But this isn't something to be worried about.

Historically, the biggest and quickest gains happen during the last phase of a bull run.

Also, during… pic.twitter.com/M44vobcGbs

— Cas Abbé (@cas_abbe) June 12, 2025

Despite short-term retracements, Bitcoin continues to trade near key resistance levels that may decide future direction. Analysts remain watchful of external factors, especially in light of global developments and shifting investor behavior.

With June now a critical month, BTC price movements above or below the key range could shape the next major trend.