

Bitcoin (BTC) Is Entering a Pivotal Week, Consolidating Below Its All-Time High of $112,000
Jun 06, 2025 am 10:48 AMBitcoin is entering a pivotal week, consolidating below its all-time high of $112,000 while holding firm above the psychological $100,000 level.
Bitcoin (BTC) is entering a pivotal week as it consolidates below the all-time high of $112,000 but manages to stay above the psychological level of $100,000. Despite escalating macroeconomic tensions—rising US Treasury yields, trade disputes between major economies, and growing geopolitical friction—Bitcoin has shown relative strength, remaining above key demand zones.
This resilience has sparked debate among analysts, with some anticipating a deeper correction and others forecasting a breakout into price discovery. Market sentiment remains mixed, volatility is picking up, and on-chain data shows retail participants are exercising some caution.
However, a potential turning point has emerged. According to top analyst Darkfost, the Hash Ribbons indicator—a tool that tracks miner stress and has historically signaled strong buy opportunities—has just flashed a new buy signal. This development is noteworthy given that Bitcoin’s hashrate recently hit new all-time highs, showcasing the network’s growing strength despite the price consolidation.
The Hash Ribbons signal suggests that short-term miner capitulation may be over, and long-term investors could see a favorable entry point. With BTC now coiling for a decisive move, this signal could act as a catalyst, reigniting momentum as traders keep an eye on a push toward new highs in the days ahead.
Key Signal Suggests Bitcoin Is Ready To Move
Bitcoin could be setting the stage for a major move as it continues to consolidate. The crypto behemoth is still adjusting to the new price range after setting a new all-time high of $112,000. With macroeconomic risks still present—including the ongoing bond market stress and escalating global trade tensions—any failure to maintain momentum above critical demand levels could trigger a deeper correction.
If BTC drops below the 34-day exponential moving average (EMA) and the $103,600 support zone, it could open the door for a sharper downturn. However, a breakout above the $112K zone would likely be swift and powerful, quickly reigniting bullish sentiment across the crypto space.
In a recent analysis, Darkfost broke down a key technical signal that’s flying under the radar—a new buy signal from the Hash Ribbons indicator. This metric assesses stress levels in the Bitcoin mining ecosystem by comparing the 30-day and 60-day moving averages of the network hashrate.
When the short-term average crosses above the long-term average after a period of capitulation, it typically signals that miner sell pressure is easing and accumulation may follow. While these periods of miner stress can be short-term bearish—since some miners are forced to liquidate BTC to stay solvent—they often present high-quality entry points for long-term investors.
Notably, the recent Hash Ribbons buy signal aligns with Bitcoin’s hashrate hitting new all-time highs, showcasing the network’s resilience despite the price remaining largely stagnant in recent months. If bulls take advantage of this setup, the market could see a strong push toward a new price discovery phase. But failure to hold above key support levels may open the door for a retest of the sub-$100K zone.
As always, the next few sessions will be crucial in determining Bitcoin’s trajectory for the weeks ahead.
Daily Chart Analysis: Support Holds, Momentum Awaits Confirmation
Looking at the daily chart, Bitcoin continues to trade in a tight range, supported from below by the $103,600 zone and faced above by the $109,300 resistance. After setting a new all-time high near $112,000, the price retraced noticeably and is now holding slightly above the 34-day EMA at $103,298.
This moving average, alongside the $103,600 horizontal level, forms the key demand zone that bulls must defend to keep the current bullish structure intact. Despite the recent pullback, BTC is still broadly in an uptrend, signaled by the higher lows since the March bottom.
However, momentum is clearly fading, with the daily candles forming lower highs and volume is also visibly declining. A decisive move above $109,300 would likely be needed to reignite bullish momentum and pave the way for a potential push toward new all-time highs.
On the downside, a confirmed break below $103,600 could open the door for a sharper correction, with the next key support level at the 100-day SMA, currently around $92,245. Traders should watch for a daily candle to close completely outside of this range to determine the next directional move.
News data source: kdj.com
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