Bitcoin Price Prediction for June 12: Bearish Trends Dominate

The cryptocurrency market witnessed a downturn as Bitcoin (BTC) prices dropped by 2.7% since yesterday, according to CoinStats. The hourly chart shows continued downward pressure from bears, potentially leading to a test of the $106,000 range in the near future. While sellers hold more power over buyers on longer timeframes, they still face resistance from potential price drops towards the $105,000 mark by week’s end. Analyzing weekly trends reveals continued bearish sentiment. With decreasing trading volume, buyer activity seems lacking, and a sideways trend within the range of $104,000-$108,000 is more likely.